Accel-Rx Health Sciences Accelerator to partner with BDC Venture Capital to help create up to 20 leading Canadian companies

25/06/14

BIO International Conference, San Diego – June 25, 2014: BDC Venture Capital and the Accel-Rx Health Sciences Accelerator (Accel-Rx) announced today a collaboration to provide critical seed funding to new and emerging Canadian health sciences companies. Together, Accel-Rx, BDC Venture Capital, and CDRD Ventures Inc. (CVI) which will provide the initial management to launch Accel-Rx operations, would focus on maximizing new health sciences company creation, and ensuring start-ups have the resources they need to grow and become a new generation of strong health sciences companies.Accel-Rx brings together five of Canada’s leading health sciences Centres of Excellence for Commercialization and Research (CECR) to foster cross-Canadian cooperation and directly addressing the health science company creation challenge in Canada. They include:The Centre for Drug Research and Development (CDRD);MaRS Innovation (MI);The Vancouver Prostate Centre’s Translational Research Initiative for Accelerated Discovery and Development (PC-TRiADD);The Centre for Commercialization of Regenerative Medicine (CCRM); and,The Centre for Probe Development and Commercialization (CPDC).The accelerator will help make a connection between: promising technologies; experts in drug development, clinical/regulatory affairs, deal-making and finance; entrepreneurs and mentors; and R&D infrastructure and resources.The proposed seed funding partnership with BDC Venture Capital would be the main funding mechanism for companies created at Accel-Rx, with the intent to invest in up to three to four companies annually, with that number potentially increasing as the partnership progresses. Selected companies would each receive a $500,000 convertible note from BDC Venture Capital, which we hope will allow companies to attract similar, if not greater investments from the private sector. Click here to read more about Accel-Rx at the CDRD Ventures website (opens in new window).

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