Life Sciences Innovation Fund
On November 10, 2011, Paul Lucas, President and CEO, GlaxoSmithKline Inc. (GSK), together with Dr. Moncef Slaoui, Global Chairman of Research and Development at GlaxoSmithKline plc. announced the launch of a new $50M GSK Canada Life Sciences Innovation Fund.
This fund will significantly benefit Canada's life sciences community by supporting early stage breakthrough science and accelerating the commercialization of Canadian innovations through investment in Canadian academic and health research institutions, translational research centres and start-up companies.
The GSK Canada Life Sciences Innovation Fund will give Canadian start-up companies, academic and research organizations an opportunity to benefit from GSK’s leading global R&D experience.
The GSK Canada Life Sciences Innovation fund will be guided by a Scientific Advisory Board, an Investment Committee, and a Fund Advisory Board. SROne, GlaxoSmithKline’s Global Venture Capital Arm will also be involved with and provide direct support to GSK in administering the fund.
GSK will look to Canadian Researchers and Research Institutes Technology Transfer Offices, Innovation Hubs, Seed Companies and Venture Capital Firms for project proposals, and will consider both short and long term investments.
Specifically, the GSK Canada Life Sciences Innovation Fund is intended to support early translational research in which pre-clinical Proof-of-Relevance is being determined to more quickly identify the most promising candidates and rapidly progress these.
GSK will back the investments with ongoing management and mentorship support. Investments in other life science partnership venture funds will also be considered.
GSK: Staying Ahead by Staying at the Forefront of Innovation.
For more information contact:
Amyn Sayani, Director, R&D Alliances, GlaxoSmithKline Inc., (905) 819-3185
About SROne - SR One’s focus is to create new sources of growth for GSK technologies and know-how by identifying high-potential healthcare companies and research organizations that are actively pursuing innovative, breakthrough science that will impact patient care. Since inception in 1985, SR One has invested $600 Million in approximately 25 private and public companies around the world.
About GSK - GlaxoSmithKline (GSK) is a leading research-based pharmaceutical company with a challenging and inspiring mission: to improve the quality of human life by enabling people to do more, feel better, and live longer. This mission gives GSK the purpose to develop innovative medicines, vaccines and healthcare solutions that help millions of people. GSK is consistently recognized as one of the 50 best employers in Canada and is a top 15 investor in Canadian research and development, contributing more than $141 million in 2010 alone. With a proud tradition of charitable and community support, GSK is designated a Caring Company by Imagine Canada. Discover more at GSK.ca.