TIAP and PRiME collaborate to accelerate next generation precision medicine ventures in Toronto
Published: November 30, 2023 Photo by Mongkolchon via Adobe Stock Images
By Naz Savranoglu
Toronto Innovation Acceleration Partners (TIAP) and PRiME Next Generation Precision Medicine (PRiME) are pleased to announce their strategic partnership aimed at advancing research to commercialization in Toronto.
Located at the forefront of innovation at the University of Toronto, PRiME brings together a community of world class scientists, engineers, and medical doctors from across the ecosystem to advance drug discovery and diagnostics to address unmet needs in disease biology. By synergizing expertise across pharmaceutical sciences, medicine, physical sciences, and engineering, PRiME is actively advancing innovation, training, and fundamental science in the realm of next-generation precision medicine. The goal is to generate therapeutics, diagnostics and tools that address critical gaps in developing new and better solutions for human diseases, specifically designed for the individual.
This strategic alliance merges the prowess of TIAP, a leader in commercialization and life sciences venture building that provides expertise, early-stage funding and deal-brokering, with PRiME’s cutting-edge research community. By harnessing mentorship, entrepreneurship training, investment capital, and an expansive industry network, this partnership is poised to accelerate the transformation of ground-breaking ideas into market-ready solutions and new emerging life sciences companies.
“We are excited by this opportunity where we will bring PRiME’s research excellence and inventions together with TIAP’s translational strength,” said Prof Molly Shoichet, Scientific Director, PRiME.
“With Ontario being home to a thriving research ecosystem, we have a golden opportunity to establish the province as a global life sciences hub — one that leverages our world-class research institutions to generate and commercialize made-in Canada health innovations that improve the health of people worldwide and support the building of globally competitive companies,” added Parimal Nathwani, President & CEO, TIAP. “We look forward to working alongside our PRiME colleagues to realize this vision.”
About PRiME
PRiME Next-Generation Precision Medicine is a community of world-class scientists, engineers and innovators at the University of Toronto and Affiliated Institutions that tackles unmet needs in drug discovery, diagnostics, and disease biology. With an interdisciplinary approach that goes beyond genomics and mutational profiling, PRiME is an accelerator of new discoveries and novel solutions that will deliver on the promise of Precision Medicine.
About TIAP
Since 2008, TIAP has been building relationships with innovators and entrepreneurs at Toronto’s top universities, hospitals and research institutes to identify the most exciting sparks of ground-breaking therapeutic, medical device and digital health/AI innovation; and then providing the tools, resources, and know-how to transform this work into successful commercial ventures. With a 15-year track record that includes the launch of more than 70 new companies, the raising of over $1B in private investment, and the creation of more than 1,000 jobs, TIAP has generated significant commercial and social return on our Member Institutions’ research; making a measurable impact on the growth of the Ontario life sciences sector and a significant contribution to Canada’s economic prosperity. TIAP is partially supported through the Federal Economic Development Agency for Southern Ontario.
For additional information, please contact:
PRiME
Akshita Vincent, Director of Strategy & Partnerships
PRiME Next-Generation Precision Medicine
akshita.vincent@utoronto.ca
TIAP
Barry Gee, Director of Public Affairs
Toronto Innovation Acceleration Partners (TIAP)
bgee@tiap.ca