Hamilton, ON (March 7, 2014) – Today the life science community gathered at McMaster Innovation Park to observe the Synapse Life Science Competition final event.
Presented by Innovation Factory, The DeGroote School of Business, McMaster University, the W Booth School of Engineering Practice, and Mohawk College, the competition teamed up life science innovators with post-graduate students from the DeGroote School of Business and the W Booth School of Engineering Practice. Together each team produced both business and commercialization plans for their innovations.
The event showcased eight teams – five through poster presentations while the top three teams presented their innovations live on-stage to a panel of industry experts, competing for over $30,000 in cash and professional resources.
The top three finalists, Advanced Theranostics Inc., Pain-QuILT, and Pairwise Affinity each had 20 minutes to impress the judges – executives from GSK, Amgen Canada, Mitsui Canada, Trellis Capital and Johnson & Johnson.
The poster board finalists included: Culture Made Faster, Genesis Health Light, Miami Mice, Therapeutic Surface Solutions Inc., and MELOCAS Technologies.
These finalists have been participating in training sessions since December 2013 to help them complete each stage of the competition and prepare to face the judges.
After the top three finalists presented to the audience, the judges deliberated while keynote Shameze Rampertab, Vice President Finance & Chief Financial Officer of Intellipharmaceutics International Inc., discussed Life Science Investment, specifically touching on competing for investment, what investors look for, and life science capital.
The event concluded with Dr. Clive Ward-Able, the appointed judge-representative, announcing the winners live on-stage. Finalists were awarded over $30,000 in prizes. The grand prize winner, Advanced Theranostics Inc., took home $15,000 in cash from the W Booth School of Engineering Practice, Janssen Inc., GlaxoSmithKline Inc., the Canadian Digital Media Network, and the Ontario Brain Institute; legal services from Gowlings; consulting services from ada innovations; and meetings with Trellis Capital and GlaxoSmithKline Inc. Pairwise Affinity was awarded in-kind services from INO and a meeting with Trellis Capital. Pain-QuILT was award meetings with Johnson & Johnson and GlaxoSmithKline Inc.
“The enthusiasm and commitment shown by our finalists, partners and the wider life science community in the inaugural year of this event has been phenomenal, ” stated David Carter, Executive Director of Innovation Factory. “This competition has succeeded in highlighting the region’s richness and strength in the health and life sciences. We believe this competition will create a substantial and positive impact demonstrating the power of our resources and innovators working together.“
About Innovation Factory
Innovation Factory is the Regional Innovation Centre for Hamilton in the Ontario Network of Entrepreneurs, leveraging funding and support from all three levels of government and the city’s top private sector and institutional partners. Our goal is to stimulate economic activity in this city by helping Hamilton businesses embrace the principles of innovation.
A member of the Ontario Network of Entrepreneurs (ONE), we are focused on strengthening Hamilton’s next generation of job generators. innovationfactory.ca
About Advanced Theranostics Inc.
Advanced Theranostics Inc. is a spin-off biotechnology company from McMaster University. They are developing a point of need device that will allow doctors to make more informed patient management decisions, improve antibiotic stewardship, shorten patient waiting times for treatment, shorten hospital stays, reduce unnecessary medical procedures and save critical health care dollars. This universal disposable PON device platform can be utilized to diagnose both viral (e.g. HIV, influenza) or bacterial (e.g. tuberculosis, Chlamydia, C. difficile) infections in twenty minutes. (www.advancedtheranostics.com).
Media Contact
Emily Kinread, Marketing & Communications Manager, [email protected]; 905.667.2611 x233
