Announcing the launch of MSBi Valorisation
Multi-million dollar initiative to help commercialize
high growth research and development projects
Montréal, Québec, Canada, November 18, 2004 - MSBi Capital, which manages a
fund that provides seed and early-stage venture
capital for the commercialization of innovations
in information technology, the life sciences
and the physical sciences, announced today
the official launch of MSBi Valorisation. MSBi
Capital and Canada Economic Development (DEC)
both financed MSBi Valorisation, with DEC contributing
4 million dollars to the initiative, in order
to finance the commercialization of university
research.
MSBi Valorisation
(MSBiV) valorizes technology projects and early-stage
opportunities, turning them into financeable
companies capable of attracting financing from
venture capital funds such as MSBi LP. MSBiV
selects promising technologies originating
in large measure from McGill University, Université
de Sherbrooke and Bishop's University, as well
as from their affiliated hospitals and research
institutes, and then oversees specific valorization
activities such as market analyses, research
and development assessment, including commercial
proof of principle demonstrations, scientific
evaluation and intellectual property protection.
The Honourable
Jacques Saada, Minister of Canada Economic
Development and Minister responsible for the
Francophonie, said: "We are very pleased to participate in MSBi Valorisation. The provision of support
for the commercialization of academic research
is of paramount importance to the government
of Canada. MSBi Valorisation and MSBi Capital
are important actors to help us achieve this
objective."
"MSBi
Valorisation fills an important gap in the
commercialization process. After years of research,
opportunities emerging from research institutions
often require early stage support to position
them as viable companies that venture funds
such as MSBi LP and others can invest in", added Mark de Groot, President and CEO of MSBi Capital.
MSBi Valorisation
is now operational and has started supporting
a range of opportunities originating from MSBi's
academic partners. Technologies currently being
valorized by MSBi Valorisation include inventions
in oncology, drug development, plastic displays
and nanofabrication.
MSBi Valorisation
MSBi Valorisation (“MSBiV”) is dedicated to
commercializing seed-stage innovations in
information technology, life sciences and
the physical sciences. MSBiV has a particular
focus on establishing and building companies
based on technological advancements and inventions
originating from McGill University, Université
de Sherbrooke and Bishop's University, as
well as their affiliated hospitals and research
institutes. More information about MSBiV
is available at www.msbiv.ca.
Canada
Economic Development
Canada Economic Development's mandate is to
promote the economic development of the regions
of Quebec. Primarily through financial assistance
programs, the Agency elicits and supports the
implementation of economic development projects.
The two priorities the Agency has set itself
are to foster innovation and the knowledge
economy in each region of Quebec, and to help
communities that are having difficulty adjusting
to the new economy. In this way, the Agency
contributes to the attainment of the Government
of Canada's objective of building the 21st
Century economy. For more information, see www.dec-ced.gc.ca.
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