GSK and MaRS launch innovation fund

GlaxoSmithKline (GSK) and MaRS Innovation (MI) – an organisation to help create successful global businesses from Canada's science, technology and social innovation - have set up a development fund that will support and fast-track the commercialisation of translational research coming from 16 academic health science centres, hospitals and universities in Canada.

The GSK/MI fund will support projects with strong potential for commercialisation in drug development, diagnostics and healthcare delivery technologies. The partnership will provide access to capitals and opportunities for early engagement with experts to guide and position technologies for successful commercialisation through licensing or start-up company creation.

Paul Lucas, president and chief executive of GSK Canada, said: "Collaborations such as these, where we share knowledge, expertise and resource, provide a highly effective way of progressing and commercialising cutting edge research. We hope that this collaboration will help close the innovation gap in Canada."

MI is a not-for-profit organisation funded through the Canadian government's Networks of Centres of Excellence and contributions from its member institutions.