McMaster Innovation Park and IMPACT at UCalgary Announce MOU to Enhance Access to Clinical Trials for Life Sciences Ventures
- MOU to provide access to the leading-edge IMPACT clinical trial program, strategic support for life science ventures
HAMILTON, ON, March 14, 2022 /CNW/ - For Life Sciences venture companies, health-related innovations ready for clinical trials are being accelerated, through a Memorandum of Understanding between McMaster Innovation Park (MIP) and the Integrated Management Platform to Accelerate Clinical Trials (IMPACT) at the University of Calgary (UCalgary).
The MOU facilitates access to the leading-edge IMPACT clinical trial program for MIP tenant life sciences ventures, while providing opportunities for growing UCalgary IMPACT ventures to advance toward commercialization and manufacturing at MIP.
"This MIP-IMPACT agreement is crucial for early and scale-up stage ventures. As a Life Science focused research park, one of our main priorities is to ensure that the ventures within our ecosystem have access to the resources they need to develop and commercialize their discoveries, and we can only achieve this through nationwide collaboration," comments Ty Shattuck, CEO of MIP.
John Wilson, CEO and President of Innovate Calgary, the innovation company of the University of Calgary, adds that "Innovate Calgary is always looking for ways to strengthen the innovation ecosystem in Alberta and Canada. This cross-provincial Agreement will enable Calgary-based small and mid-size health tech enterprises to access more resources and opportunities to manufacture their discoveries. We look forward to helping MIP ventures with their clinical trials in order to bring more Canadian bio-med discoveries to market and strengthen our national biotech and pharma industries."
IMPACT assists ventures with the timely initiation and completion of clinical trials vital to the licensing and commercialization of health-inventions in the domestic and international markets.
"Formalization of the partnership between MIP and IMPACT is an important step forward. Together we can better support the growth and commercial success of ventures. IMPACT will aid ventures to obtain market approval faster and with less capital, while MIP will support ventures with a broad array of services," adds Derek Exner, Executive Director of IMPACT.
Dr. Karen Mossman, McMaster University's Vice-President, Research and Chair of MIP's Board of Directors says "collaborations are critical to maximizing our innovation potential. This partnership will provide significant opportunities for our researchers and innovators and advance our capacity to commercialize our life sciences discoveries."
About McMaster Innovation Park (MIP):
McMaster Innovation Park (MIP) is Canada's premier research park based in the heart of Hamilton Ontario. It is home to over one hundred companies in the Life Science, Engineering & Advanced Manufacturing and high-tech sectors. MIP's proven ability to support and grow mid-market / SME enterprises results in faster, more economically impactful, and lower-risk investments for government and private investors alike.
About the Integrated Management Platform to Accelerate Clinical Trials (IMPACT) at UCalgary:
IMPACT, located in the Life Sciences Innovation Hub at the University of Calgary, is a leading-edge program for new ventures in the life sciences or biomedical industries who are seeking guidance in conducting clinical trials to secure regulatory approval for their new health-related inventions. The IMPACT Venture Navigators work with the venture to design, support, execute, and report on their pre-market clinical trials for less capital.
SOURCE McMaster Innovation Park
McMaster Innovation Park: Shauna-Kay Williams, Marketing & Communications Manager, [email protected] , 289-244-7363; Innovate Calgary: Chantal Palmer, Community Engagement Coordinator, Life Sciences Innovation Hub, [email protected], 403.270.2434
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