TIAP, previously Mars Innovation, has lured drug firm Amgen to co-invest in portfolio businesses based on its members' health sciences research.
Toronto Innovation Acceleration Partners (TIAP), the Canada-based multi-institution commercialisation firm formerly known as Mars Innovation, entered a co-investment alliance with pharmaceutical firm Amgen on Monday.
The partners will jointly fund companies in TIAP’s health sciences portfolio, which builds on research from its 14 member institutions in Ontario. They will also look to identify promising embryonic discoveries from Toronto’s scientific community.
The announcement follows TIAP’s revamp last week in a move designed to recentre the unit’s commercialisation focus by emphasising emerging businesses leveraging its members’ research.
Rafi Hofstein, president and CEO of TIAP, said building “excellent” ties with Amgen in recent years had now resulted in a formal partnership, with the aim of advancing more discovery-stage projects.
He added: “To have Amgen as an active partner in our commercialisation and venture builder efforts is a benefit not only to us and our members but certainly also…
