adMare BioInnovations Welcomes the First Quebec Start-Ups in its Accelerate Program
adMare today unveiled the six companies selected under its new acceleration program supported by the Quebec Government and the City of Montreal.
MONTREAL, Dec. 10, 2020 /CNW Telbec/ - adMare BioInnovations, Canada's global life sciences venture, is proud to announce the start-ups selected to join its new acceleration program for Quebec emerging companies. The Accelerate Program is designed to address a fundamental pillar of adMare's Mission: to support the scale-up of promising life sciences companies, and help them grow into new anchors for the industry.
With some 20 applications received, the Selection Committee, composed of representatives of leading organizations in the sector, such as Amplitude Ventures and the Fonds de solidarité FTQ, selected six Quebec start-up companies in the fields of therapeutic development and digital health.
The selected companies are:
- Cura Therapeutics is developing innovative immunotherapies to cure cancer and infectious diseases. Their technologies harness cytokines to create multi-functional proteins with potent anti-cancer and antiviral properties;
- In Vivo AI is an interdisciplinary team of scientists and engineers out of Mila - Quebec AI institute developing new machine learning technologies for molecular design and optimization;
- Modelis is accelerating drug discovery for rare genetic diseases;
- Molecular Forecaster is a reliable, self-sustaining computational chemistry service provider, developing its own software for application in various drug discovery campaigns.
- Targa Biomedical is a biotechnology company developing pharmacological assets optimizing the manufacturing quality and clinical impact of cell therapy and increasing opportunities for life-saving organ transplantation;
- Trepso Therapeutics is developing novel therapeutics to reverse the structural deterioration associated with degenerative disc and articular joint diseases, such as osteoarthritis, and to reduce the associated pain and inflammation;
Thanks to contributions from the Government of Quebec, through Start-Up Quebec funding from the Ministère de l'Économie et de l'Innovation, and the City of Montreal, the selected companies will benefit from $150,000 in customized access to adMare resources, such as laboratories and offices at reduced rates, scientific and business support, and training. With the support of our strategic partners BIOQuébec and Montréal InVivo, the participants will also access unique networking and mentoring opportunities, and increase their visibility in Quebec's life sciences community.
Gordon C. McCauley, President and Chief Executive Officer of adMare said, "adMare is very proud to be playing an integral role in the economic recovery and economic growth in Quebec and across Canada. The excitement generated by our Accelerate Program demonstrates the clear need start-up companies have in accessing specialized and dedicated infrastructure, expertise, and capital to amplify their growth."
"Thanks to the new adMare BioInnovations program, the six selected start-ups will have access to state-of-the-art infrastructure, while benefiting from advice and support in various domains related to life sciences. These promising companies will thus be able to better structure themselves, become more mature, and even more attractive to investors. Ultimately, the entire life sciences and health technology sector will benefit from the scientific breakthroughs advanced by this program," emphasized Pierre Fitzgibbon, Minister of Economy and Innovation.
"We are happy to support this initiative aligned with a key piece of our strategic mission: Enabling the development and growth of companies in the life sciences sector," added Frank Béraud, Chief Executive Officer of Montréal InVivo. "Montréal InVivo has long believed in coaching entrepreneurs, and adMare BioInnovations' Accelerate Program will provide these promising companies with invaluable specialized support when they need it most – in the members start-up phase. The Accelerate Program will give these start-ups a chance to take off and participate in the growth of the life sciences and health technology sector and Quebec's economic recovery."
Anie Perrault, Executive Manager of BIOQuébec remarked, "BIOQuébec congratulates the six young companies selected, and is proud to welcome them as of our organization. We are pleased to offer them the services and privileges that come with this membership to support their growth. We look forward to getting to know them better this evening at our Holiday Networking Cocktail, which will bring together 180 key players in the life sciences sector."
Please visit adMare BioInnovations' website for further details on the Accelerate Program.
About adMare BioInnovations
adMare BioInnovations is Canada's global life sciences venture, building the Canadian life sciences industry from sea to sea. We do this by sourcing therapeutically and commercially promising research from leading academic and biotech partners to create new companies of scale, providing specialized expertise, infrastructure, and capital to help existing companies scale up, and driving the growth of those companies into Canadian anchors by training the next generation of highly qualified personnel. adMare's ~20 portfolio companies have attracted more than $1.15B of investment, and have a combined worth of over $2.3B. For more information, visit admarebio.com or contact firstname.lastname@example.org.
SOURCE adMare BioInnovations