狐狸视频

Canada鈥檚 life sciences sector needs support to bring innovations to market: Leah Cowen in the Globe and Mail

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(Photo courtesy of NSERC)

Canada is a world leader in life sciences research and innovation, but more investment is needed to spur the commercialization of made-in-Canada discoveries, according to the 狐狸视频鈥檚 Leah Cowen.

, Cowen, U of T鈥檚 vice-president, research and innovation, and strategic initiatives, writes that substantial investments have been made in research infrastructure and intellectual property creation in Canada 鈥 but funding for commercialization has lagged behind. 鈥淭he reality is that transforming an idea into a product takes significant investment 鈥 from the private sector and from government. And in this regard, Canada is falling short,鈥 writes Cowen, who is also co-founder and chief scientific officer at Bright Angel Therapeutics. 鈥淪tartups are looking elsewhere for capital to commercialize cutting-edge innovations, treatments and therapeutics.鈥

Cowen offered the example of Atomwise, an AI drug discovery startup that received early support from the Creative Destruction Lab at U of T鈥檚 Rotman School of Management but moved to San Francisco where it successfully raised nearly US$175 million. She added the trend isn鈥檛 new, citing the role of U.S. pharmaceutical company Eli Lilly in helping commercialize insulin, which was discovered at U of T a century ago.

Cowen welcomed the Canadian government鈥檚 recent move to earmark $3 billion for the innovation sector, but said more support is needed to strengthen Canada鈥檚 life sciences ecosystem, which in turn would drive economic growth and boost the health care system. 鈥淚f Canada doesn鈥檛 address its commercialization deficit once and for all, innovations and talent will go elsewhere 鈥 and that could slow the country鈥檚 economic recovery and potentially hinder our ability to withstand the next health threat."

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