GlaxoSmithKline Inc. Launches $50 Million Life Sciences Innovation Fund in Canada
TORONTO, Nov. 10, 2011 /PRNewswire/ – GlaxoSmithKline Inc. (GSK) today
announced the launch of the GSK Canada Life Sciences Innovation Fund, a
new national $50 million fund that will significantly advance the
commercialization of scientific innovation in Canada by investing in
early stage breakthrough research. The fund will identify strategic
investment opportunities within Canada’s life sciences industry
including academic and health institutions, translational research
centres and start-up companies.
The announcement was made today in Toronto at an event hosted by GSK in
Canada President and CEO, Paul Lucas and Dr. Moncef Slaoui, GSK’s
Global Chairman of Research and Development. The event was attended by
federal and provincial government representatives and leaders from
Canada’s life sciences community.
“The GSK Canada Life Sciences Innovation Fund will provide a competitive
advantage to Canada’s life sciences industry and help advance the
commercialization of research,” said Paul Lucas, President and CEO,
GlaxoSmithKline Inc. “This is an important step in addressing Canada’s
innovation gap and we’re excited by the prospect of developing even
closer ties with leading research organizations across Canada to
enhance opportunities for innovation and create new high-value jobs.”
“Canada’s life sciences industry is respected around the world with many
innovative companies and organizations engaged in high-potential
research,” said Moncef Slaoui, global chairman of Research and
Development at GlaxoSmithKline. “The establishment of this fund
demonstrates GSK’s confidence in Canada to continue to be an important
source of development for medicines of value for patients.”
Managed by GlaxoSmithKline in Canada and GSK’s global corporate venture
capital arm SR One, the new fund strengthens GSK’s position as a
Canadian R&D leader and offers the company a unique opportunity to help
close Canada’s innovation gap. Â Through direct investment, Canadian
researchers, academics and organizations focused on high-potential
early-stage research, have a unique opportunity to benefit from GSK’s
leading global R&D experience.
About GlaxoSmithKline Inc.
GlaxoSmithKline (GSK) is a leading research-based pharmaceutical company
with a challenging and inspiring mission: to improve the quality of
human life by enabling people to do more, feel better, and live longer.
This mission gives GSK the purpose to develop innovative medicines,
vaccines and healthcare solutions that help millions of people. GSK is
consistently recognized as one of the 50 best employers in Canada and
is a top 15 investor in Canadian research and development, contributing
more than $141 million in 2010 alone. With a proud tradition of
charitable and community support, GSK is designated a Caring Company by
Imagine Canada. Discover more at GSK.ca.
About SR One
SR One is the corporate venture capital arm of GlaxoSmithKline. The firm
invests globally in emerging life science companies that are pursuing
innovative science that will significantly impact medical care. Since
1985, SR One has invested approximately $650 million in more than 140
companies. For more information, please visit www.srone.com.
SOURCE GlaxoSmithKline
Image with caption: “GlaxoSmithKline Inc. President & CEO, Paul Lucas and Dr. Moncef Slaoui, Global Chairman of Research & Development, GlaxoSmithKline plc., launch the GSK Canada Life Sciences Innovation Fund, a $50 million initiative to advance the commercialization of scientific innovation in Canada. (CNW Group/GlaxoSmithKline)”. Image available at: http://photos.newswire.ca/images/download/20111110_C4501_PHOTO_EN_6463.jpg
Image with caption: “GlaxoSmithKline Inc. President & CEO, Paul Lucas and Dr. Moncef Slaoui, Global Chairman of Research & Development, GlaxoSmithKline plc., launch the GSK Canada Life Sciences Innovation Fund, a $50 million initiative to advance the commercialization of scientific innovation in Canada. (CNW Group/GlaxoSmithKline)”. Image available at: http://photos.newswire.ca/images/download/20111110_C4501_PHOTO_EN_6459.jpg
