Toronto, ON – GlaxoSmithKline (GSK) has launched a new $50-million national fund, called the GSK Canada Life Sciences Innovation Fund, which will be focussed on advancing the commercialization of scientific innovation in Canada by investing in early-stage research. The fund will identify strategic investment opportunities within Canada’s life sciences industry including academic and health institutions, translational research centres and start-up companies.
“Canada’s life sciences industry is respected around the world with many innovative companies and organizations engaged in high-potential research,” said Dr Moncef Slaoui, global chairman of research and development at GlaxoSmithKline. “The establishment of this fund demonstrates GSK’s confidence in Canada to continue to be an important source of development for medicines of value for patients.”
The fund will be managed by GlaxoSmithKline in Canada and GSK’s global corporate venture capital arm SR One. The company says that through direct investment, Canadian researchers, academics and organizations focused on high-potential early-stage research, will have the opportunity to benefit from GSK’s global R&D experience.