Investing in New Technologies and Creating Highly-Skilled Jobs

TORONTO, ONTARIO--(Marketwired - April 10, 2015) - Federal Economic Development Agency for Southern Ontario (FedDev Ontario)

Thanks to an investment by the Harper Government announced today by FedDev Ontario Minister Gary Goodyear and Don Valley West MP John Carmichael, Sunnybrook Research Institute will grow southern Ontario's image-guided therapy cluster.

Sunnybrook, in collaboration with 32 partners including four universities (Western University, Ryerson University, University of Toronto and Queen's University) and up to 28 businesses, will use the funding to accelerate the commercialization of 28 innovative technologies.

This project will provide necessary laboratory, business and commercialization support to image-guided therapy companies in the region, and solidify southern Ontario's position as a leader for image-guided therapeutics.

This important investment of up to $20 million to Sunnybrook Research Institute, towards total project costs of more than $41 million, will help the partners involved create 165 high-quality, full-time jobs across various sectors in southern Ontario.

Quick Facts

• The contribution is through FedDev Ontario's Investing in Commercialization Partnerships initiative, which encourages business-led partnerships with post-secondary institutions and not-for-profit organizations to create new products, technologies and services.
  
  
• Image-guided procedures are less invasive, provide real-time feedback to physicians and can be customized for individual patients.
  
  
• Sunnybrook is one of the top three research hospitals in Toronto and employs more than 1,200 research, technical and administrative staff.
  
  
• Thanks to a previous $6.91-million investment from FedDev Ontario, Sunnybrook Research Institute, Western University and 18 companies have developed and refined 23 new technologies. Some of these are now being sold internationally.
  
  

Quotes

"I'm pleased this investment will help Sunnybrook to solidify the image-guided therapy technology cluster it has strongly established. This will lead to the design and export of important new technologies and the creation of high-value jobs here in southern Ontario."

- Gary Goodyear, Minister of State for FedDev Ontario

"Our Government is proud to continue to support Sunnybrook and its valued partners on this project that will provide better treatment options to patients all over the world. Partnerships like this one help to cultivate new technologies that will make the medical imaging industry in Canada more competitive."

- John Carmichael, Member of Parliament for Don Valley West

"Sunnybrook Research Institute leads in the development and commercialization of image-guided therapeutics. Continued investment from FedDev Ontario will enable us to capitalize on the significant advances we have made and invest in new inventions. This work of our scientists, industry collaborators and academic partners aims for a single brass ring: provision of the best patient care."

- Dr. Barry McLellan, President and CEO, Sunnybrook Health Sciences Centre

Related Products

- Backgrounder: FedDev Ontario's Investment in Sunnybrook Research Institute

- Speech: Investing in Commercialization Partnerships Initiative Funding Announcement for Sunnybrook Research Institute

Associated Links

- Investing in Commercialization Partnerships

- Sunnybrook Research Institute

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Backgrounder

FedDev Ontario's Investment in Sunnybrook Research Institute

Sunnybrook Research Institute is a not-for-profit research and teaching hospital located in Toronto that was established in 1991 as the research enterprise of Sunnybrook Health Sciences Centre. In 2007, the institute established the Centre for Research in Image-Guided Therapeutics, which leads world-class research and develops image-guided therapy technologies in southern Ontario.

In May 2012, FedDev Ontario announced a non-repayable contribution of up to $6.91 million through its Technology Development Program for Sunnybrook Research Institute to accelerate the development and commercialization of new types of treatment and monitoring systems that integrated features from existing image-guided therapy.

Today's non-repayable contribution of up to $20 million, towards total project costs of more than $41 million, will be used by Sunnybrook to expand the image-guided therapy cluster it initially developed. Participating collaborators are expected to include four universities (Western University, Ryerson University, University of Toronto and Queen's University) and 28 industry partners. Sunnybrook, along with its partners, will advance the commercialization of technologies in the following five areas:

• Focused ultrasound (FUS): Focused ultrasound is a unique non-invasive image-guided therapy with broad clinical potential. This proposal will support the creation of a low-cost portable focused ultrasound system, develop improved research tools for the field and expand the range of FUS uses.
  
  
• Cardiovascular interventions: Cardiovascular interventions are some of the most challenging procedures due to the difficulties of cardiac/respiratory motion and the limitations of traditional image guidance. Sunnybrook will develop platforms that will vastly improve the guidance of cardiovascular interventions to make procedures faster, more accurate and safer.
  
  
• Therapy response: Therapy response monitoring is a new aspect of image-guided therapeutics that determines the effectiveness of chemotherapy and radiation therapy in the very early stages of treatment. Sunnybrook will develop technologies capable of improving the therapy-feedback cycle.
  
  
• Musculoskeletal interventions: Musculoskeletal imaging is important for diagnosis, treatment planning and in-procedure guidance of injury- and disease-related disorders. Sunnybrook will utilize 3D imaging to improve diagnostics, safe and effective image guidance and optimized patient-specific solutions.
  
  
• Detection: Sunnybrook and partners seek to improve on existing breast cancer detection technologies by improving visualization of the disease to guide treatment decision-making.
  
  

FedDev Ontario's investment is through the Investing in Commercialization Partnerships Initiative, which aims to address the innovation and commercialization gap between the private sector and research institutions, post-secondary institutions and not-for-profit organizations. For more information and detailed guidelines, please refer to www.FedDevOntario.gc.ca/ICP.