Toronto, ON – MaRS Innovation, a Centre of Excellence for Commercialization and Research, today says it is forming a strategic partnership with Pfizer to advance early-stage technologies related to human health in therapeutics and diagnostics.
The partnership’s goal is to identify investment opportunities emerging from well-validated scientific research discoveries within MaRS Innovation’s 16 member institutions, including the University of Toronto and its nine affiliated teaching hospitals.
“There’s growing consensus that transferring technologies from the university lab bench and into the market requires unique public-private partnerships,” said Dr. Raphael Hofstein, president and CEO of MaRS Innovation. “Partnering with MaRS Innovation gives Pfizer access to Toronto’s robust innovation pipeline and a close look at emerging IP from Canada. It signals both the strength and attractiveness of our commercialization model and Toronto-based research technologies to global industry players.”
Pfizer will provide funding over a three-year period to support promising individual projects based on their due diligence, which will be leveraged with financial support from MaRS Innovation. Together, it is intended to accelerate the development and validation of healthcare technologies within a highly innovative academic cluster in Canada.
“We are excited by this partnership with MaRS Innovation and look forward to working collaboratively to help advance promising healthcare technologies,” said Uwe Schoenbeck, chief scientific officer, External R&D Innovation at Pfizer.