Medicine by Design and Creative Destruction Lab partner to accelerate the commercialization of world-class research in regenerative medicine
TORONTO, July 25, 2018 /PRNewswire/ -- A new partnership between Medicine by Design and the Creative Destruction Lab (CDL), founded at the Rotman School of Management, will strengthen Toronto's biomedical ecosystem by bringing together the University of Toronto's (U of T) world-class research in regenerative medicine and the CDL's proven seed-stage program for science-based companies.
The two organizations are collaborating to launch a health-themed cohort at CDL-Toronto, expanding on a stream pioneered in 2017/18 at CDL-West that helps technical teams take their health innovations to market by providing access to accomplished mentors and investors in life sciences.
Medicine by Design will provide ventures with technical advisory support from among its community of more than 110 scientists, engineers and clinicians across U of T and its affiliated hospitals who are working at the frontiers of regenerative medicine. The projects, technologies and companies Medicine by Design researchers are building will also provide a robust pipeline of potential candidates for the CDL health stream.
"Medicine by Design is delighted to work with the CDL to advance the commercialization of regenerative medicine therapies and technologies," said University Professor Michael Sefton, Executive Director of Medicine by Design. "By combining Medicine by Design's research expertise and CDL's success in scaling seed-stage science-based companies, this partnership promises to take Toronto to the next level as a global leader in the field."
"The Creative Destruction Lab has a strong history of supporting health-based companies, and we are very excited to deepen this area of focus through our Health Stream," said Sonia Sennik, Executive Director at the CDL. Through the success of companies like Phenomic AI and Avro Life Science, the CDL has shown that its objectives-based mentoring can have an impact on the trajectory of an early-stage health company. "By partnering with Medicine by Design, we can expand a successful model to include companies on the cutting edge of cell therapy and regenerative medicine."
Applications for the 2018/19 CDL-Toronto Health Stream are due by August 12 online at www.creativedestructionlab.com/cdl-app-2018-2019/.
About the Creative Destruction Lab:
The Creative Destruction Lab (CDL) is a seed-stage program for massively scalable, science-based companies that works with world-class entrepreneurs, scientists and investors as well as university students to bring the best ideas in the technology field to market. Launched in 2012 in Toronto at U of T's Rotman School of Management, CDL has since expanded to Vancouver, Calgary, Montréal, Halifax and New York City, and companies that have participated in its programs have created $2.5 billion (Canadian) in equity value. The nine-month program employs an objectives-based mentoring process with the goal of maximizing equity-value creation.
About Medicine by Design:
Medicine by Design is a regenerative medicine initiative at U of T that undertakes transformational research to improve health outcomes and create value. Building on decades of made-in-Toronto discoveries, Medicine by Design is developing new peaks of excellence and strengthening Canada as a global leader in regenerative medicine thanks to a $114-million investment from the Canada First Research Excellence Fund.
About the Rotman School of Management:
The Rotman School of Management is part of the University of Toronto, a global centre of research and teaching excellence at the heart of Canada's commercial capital. Rotman is a catalyst for transformative learning, insights and public engagement, bringing together diverse views and initiatives around a defining purpose: to create value for business and society. For more information, visit www.rotman.utoronto.ca.
SOURCE Rotman School of Management, University of Toronto
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