VANCOUVER, BC, MONTREAL and TORONTO, Jan. 30, 2023 /CNW/ - adMare BioInnovations is pleased to announce the launch of the adMare Tx Accelerator that will support the most promising ventures across Canada and help them achieve essential milestones for successful development and commercialization of therapeutics (Tx).

The 2020 adMare pilot accelerator program in Montreal, launched with support of the Ministry of Economy, Innovation and Energy (MEIE) and the Ville de Montréal, generated significant results. The first cohort of six companies (Cura Therapeutics, Modelis, Molecular Forecaster, Targa Biomedical, Trepso, and Valence Discovery) achieved important scientific and commercial milestones including technology validation, strengthening IP, increasing team size, company footprint and revenues, and successful fundraising.

Based on the success of this program, adMare is launching a national Tx Accelerator to support Canada's most promising and innovative early-stage therapeutics ventures with the potential for significant market impact. To increase regional supports in Ontario, adMare is proud to partner with MaRS Discovery District.

The adMare Tx Accelerator provides integrated offerings that include: access to state-of-the-art laboratory facilities and office space, scientific and regulatory guidance, expertise in business development and IP strategy, access to personalized training and team building, and financial support.

Therapeutic ventures are invited to submit their application by March 1^st to be part of the first Tx Accelerator cohort. To learn more about the program, please visit our website: https://www.admarebio.com/en/accelerator

"Building companies is part of the core mission of adMare. The National adMare Tx Accelerator will contribute to building a strong and sustainable Canadian life science ecosystem. We are proud to welcome ventures across Canada to our Accelerator," stated Gordon C. McCauley, President and CEO of adMare BioInnovations.

"We know that supporting early-stage ventures with scientific and commercialization expertise, financial support and state-of-the-art infrastructure, generates better results than entrepreneurs going it alone. We look forward to working with engaged entrepreneurs to help them develop novel therapeutics and grow their business in Canada," mentioned Dr. Milica Vukmirovic, Senior Director National Accelerator and Strategic Initiatives at adMare BioInnovations.

"MaRS was originally founded as an innovation hub to help commercialize medical discoveries and research, so this is in our DNA. This is a once-in-a-generation opportunity to support Canada's top life sciences entrepreneurs by creating badly needed shared wet lab space and infrastructure, and connecting them to the MaRS ecosystem of investors, clinical and commercialization talent and active partner," said Yung Wu, CEO MaRS.

"Canada has the home grown talent to produce safe and effective therapies that can help us respond to pandemics, and other health priorities. Our government is proud to support adMare as they help start-ups across the country to scale-up, push boundaries and innovate. Together we are ensuring Canadians are healthy, safe and better prepared for the future," stated The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry.

"Quebec's life sciences industry is a strategic sector with high added value. Its economic development is propelled by incubators and accelerators that, like adMare, support our startups and help bring their innovations to market faster," says Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister Responsible for Regional Economic Development and Minister Responsible for the Metropolis and the Montréal Region.

"The adMare Tx Accelerator program supports companies in the life sciences and health technologies in various stages of development and commercialization. Our administration has invested $1.5 million to implement an Innovation and Commercialization Complex (ICC) to support the research and commercialization of innovative solutions. Our administration is proud to have collaborated with the Ministère de l'Économie, de l'Innovation et de l'Énergie on the pilot program. Congratulations to this first cohort," said Luc Rabouin, Executive Committee member responsible for economic and business development, knowledge, innovation and design.

With a strong track record of globally-competitive scientific discovery, Canadian life sciences are primed to lead the world. To make this a reality, adMare BioInnovations uses its scientific and commercial expertise, specialized R&D infrastructure, and seed capital to build strong life sciences companies, develop robust ecosystems, and foster industry-ready talent. It re-invests its returns into the Canadian industry to ensure its long-term sustainability. adMare currently has 28 portfolio companies that have attracted $1.4 billion of risk capital, have a combined value of $3 billion, and have created over 1,000 jobs in Canada. For more information, please go to www.admarebio.com.

MaRS is North America's largest urban innovation hub. A registered non-profit, MaRS supports high-growth startups and scale-ups tackling key issues in health, cleantech, fintech and other sectors. In addition, MaRS convenes all members of the tech ecosystem to drive breakthrough discoveries, grow the economy and make an impact by solving real problems for real people—in Canada and around the world.

SOURCE adMare BioInnovations