Companies in CDL Health will benefit from adMare’s scientific and business expertise, infrastructure, and capital to drive health-related technologies to companies of scale.
Vancouver and Montreal, Canada – July 16, 2020: Creative Destruction Lab (CDL), founded by Ajay Agrawal at University of Toronto’s Rotman School of Management, and adMare BioInnovations, Canada’s global life sciences venture, are pleased to announce a new partnership between these leading innovation organizations. Through this collaboration, CDL Health ventures from CDL-West and CDL-Toronto will be eligible to access adMare’s world-class, cross-disciplinary scientific and commercial expertise, and infrastructure housed within its state-of-the-art facilities, as well as through an extended network of national and international partners.
CDL Health, built for founders pursuing commercial opportunities predicated on translational science and technology innovations that improve human health and wellness, helps technical teams bring their health innovations to market by providing access to industry-leading mentors and investors in the life sciences domain.
Dr. Mounia Azzi, adMare Vice President, Program Development and Partnerships, commented, “adMare and CDL are incredibly well-aligned as we both look to help Canada’s most promising companies scale-up and grow into new global-leading anchors. Several of adMare’s leaders have been involved with CDL for some time, helping mentor young companies; and by now bringing our respective resources together through this formal collaboration, we will greatly increase our support and amplify our impact.”
Example innovation areas for CDL Health include:
- Diagnostics tools and platforms
- Digital Health
- Medical Devices
- Precision medicine and pharmacogenomics
- Therapeutics, biopharmaceuticals, and other drug discovery
“Both CDL Health and adMare BioInnvoations are focused on enabling founders to commercialize and scale their science-based health innovations. This partnership will help our founders achieve the objectives set by the CDL mentors, and build successful companies. The innovations that these companies produce will improve human health in Canada and around the world,” remarks Avi Goldfarb, Chief Data Scientist at CDL, Rotman Chair in Artificial Intelligence and Healthcare and Professor of Marketing at Rotman School of Management.
“When building a biotech company, there is no one resource that has ‘everything’.’ For us, adMare provided resources to establish technical proof of concept while CDL provided management support and guidance that got us off on the right foot,” says Jon Polak, CEO of Mesentech, a CDL alumni company that has developed a novel drug conjugate that can deliver medicines selectively to the bone. “I’m excited about the partnership between adMare and CDL because getting things started with the right structure from the start will save new ventures years of wandering around in the dark.”
CDL Health founders will also benefit from special access to the adMare Academy’s Executive Institute – a 10-month, focused executive development program custom designed to ensure that the Canadian life sciences sector has the management talent it needs to lead the world.
“CDL continues to build its program in support of the local and global entrepreneurial ecosystems, bolstered by the support of its invaluable community of scientific founders, mentors and partners like adMare. Operating at the nexus of academia, business and science, this world-class community allows CDL to operate a market for judgment, and harness expert insights for positive societal impact. This new partnership will provide a new set of opportunities for CDL ventures in the Life Sciences and broader Health domain which will result in novel advances in healthcare benefiting humankind,” says Paul Cubbon, Site Lead at CDL-West and Assistant Dean Innovation at UBC Sauder School of Business.
Applications for CDL Health are now open. CDL Health serves ambitious teams with strong backgrounds in chemical, biological, medical, materials, mechanical, electrical, and computer engineering who are working on projects and technologies with the potential to meaningfully enhance human health and wellness. Learn more about the CDL program or apply now at: https://www.creativedestructionlab.com/apply/.
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About adMare BioInnovations
adMare BioInnovations is Canada’s Global Life Sciences Venture, building the Canadian life sciences industry from sea to sea. They partner with leading academic researchers and biotech companies to advance commercially promising therapeutic innovations to create new companies of scale; and offer specialized scientific and commercial expertise, infrastructure and capital to help existing companies scale up. adMare’s portfolio of over 15 companies have attracted more than $600M of investment and have a combined worth of over $2.5B. For more information, visit https://www.admarebio.com/ or contact firstname.lastname@example.org.
About Creative Destruction Lab
Creative Destruction Lab (CDL) is a nonprofit organization that delivers an objectives-based program for massively scalable, seed-stage, science- and technology-based companies. Its nine-month program allows founders to learn from experienced entrepreneurs, increasing their likelihood of success. Founded in 2012 by Professor Ajay Agrawal at the Rotman School of Management at University of Toronto, the program has expanded to eight sites across four countries: Oxford (Saïd Business School, University of Oxford), Paris (HEC Paris), Atlanta (Scheller College of Business, Georgia Institute of Technology), Vancouver (Sauder School of Business, University of British Columbia), Montreal (HEC Montréal), Calgary (Haskayne School of Business, University of Calgary), and Halifax (Rowe School of Business, Dalhousie University). The successful commercialization of cutting-edge science and technology achieved through the program has led to the creation of over $6.7 billion in equity value. CDL alumni companies include North (Waterloo), Atomwise (San Francisco), Kyndi (Palo Alto), Xanadu (Toronto), BenchSci (Toronto), Kheiron Medical (London), and Roadbotics (Pittsburgh). For more information, visit https://www.creativedestructionlab.com/.
For additional information, please contact:
Creative Destruction Lab