TORONTO, May 19, 2011 /PRNewswire/ -- The Ontario Institute for Cancer Research (OICR) today announced investments in three new Ontario companies aimed at bringing promising anticancer technologies to market.
"The establishment of these innovative companies will help bring commercial and operational leadership that will accelerate the development and market acceptance of their promising assets," said Frank Stonebanks, Vice-President, Commercialization and Chief Commercial Officer of OICR. "With early translational research, seed capital and professional management, OICR is committed to supporting the most promising new approaches to fighting cancer."
"The anticancer technologies developed by these companies offer hope for improved health outcomes for people in Ontario and around the world who are fighting cancer," said Glen Murray, Ontario Minister of Research and Innovation. "These three companies represent the best in Ontario innovation and are creating high-quality jobs with world-class researchers in this province."
Following extensive due diligence review by OICR, investments have been made in the following companies as their technologies have the potential to be best in class and advance OICR's commitment to the prevention, early detection, diagnosis and treatment of cancer. They include the following:
TORCell was created by OICR and the University Health Network (UHN) to undertake clinical development of a proprietary, immunotherapy for the treatment of acute myeloid leukemia (AML), a form of cancer with a very poor prognosis and limited treatment options. The technology involves using a sub-population of the patient's own cancer-killing T cells whose potential in treating AML has been pioneered by Dr. Li Zhang, Senior Scientist in the Division of Cellular and Molecular Biology at the UHN's
|SOURCE Ontario Institute for Cancer Research|
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