IPON panel

Panel discussion at the event, ‘Funding and Support for Commercializing Medical and Regenerative Technologies.’ (Front, left to right:) Bharti Ranavaya, University Health Network; Feiran Zhou, Ontario Centre of Innovation; Allison Brown, Medicine by Design; David Simpson MedTech entrepreneur-in-residence; and Paul Santerre, University of Toronto and the Health Innovation Hub. (Back:) Jennifer Fraser, University of Toronto.

At the University of Toronto (U of T) and several of its affiliated hospitals, a one-year Entrepreneur-in-Residence (EIR) pilot program has recently been launched with the help of a grant from Intellectual Property Ontario (IPON).

U of T, the University Health Network (UHN), the Hospital for Sick Children and Sunnybrook Research Institute are collaborating on a program that will leverage entrepreneurial and business expertise to advance projects that display high potential for clinical impact and spin-off company formation in regenerative medicine and medical technology (MedTech).

Seasoned entrepreneurs and industry experts Ella Korets-Smith, Justin Grant and Jose Rodriguez, have been announced as the new regenerative medicine-focused EIRs.

An event hosted in late June by U of T’s Innovations and Partnerships Office, ‘Funding and Support for Commercializing Medical and Regenerative Technologies,’ introduced the U of T and hospital communities to the new program in addition to highlighting other commercialization supports in Ontario.

Program builds capacity for Medicine by Design’s existing EIR program

As a regenerative medicine hub at U of T and its affiliated hospitals, Medicine by Design will work closely with the regenerative medicine-focused EIRs. Medicine by Design has an existing EIR program, and this new program will allow added capacity and scope.

“Commercialization initiatives like this one are an essential part of ensuring the best, most translatable research is able to bridge the early-stage translation gap,” says Allison Brown, executive director at Medicine by Design. “Tapping into the networks and knowledge offered by EIRs is an invaluable service for researchers who want their research to move out of the lab and have an impact on society.”

Meet the regenerative medicine EIRs

Ella Korets SmithElla Korets-Smith
Strategic advisor
Korets-Smith is an entrepreneur and biotechnology executive and is the founder/director of EKS Business Development.

She is an active operator of companies, as co-founder and chief strategy officer at Virica Biotech and Virano Therapeutics. Through her various engagements in CBO/VP business development positions, Korets-Smith has closed licensing transactions, some valued at over $100 million USD, drove multiple fundraising and liquidity events, and led successful marketing and business development programs resulting in annual sales of over $50 million. Korets-Smith holds an MSc in medical genetics from U of T and an MBA from Dalhousie University.

Justin GrantJustin Grant
Entrepreneur-in-Residence
Grant is a scientific business leader with deep expertise in drug development at Canada’s top research institutes and early-stage biotech companies.

He was a staff scientist and research program manager for 12 years, leading the STTARR Innovation Centre at UHN’s Princess Margaret Cancer Centre. His most recent position was director of technology and venture development for Toronto Innovation Acceleration Partners (TIAP). Grant has bridged science and business by founding, operating and consulting for many start-ups therapeutic, device and software companies, achieving significant investments, global expansion, clinical trial approvals, product launches, M&As, and strategic partnerships. Justin holds a PhD in pharmaceutical sciences from U of T and MBA from U of T’s Rotman School of Business.

Jose RodriguezJose Rodriguez
Entrepreneur-in-Residence
Rodriguez has over 25 years of experience in the pharmaceutical industry with a focus on business development, operations and commercial excellence.

His global commercial experience spans North America, Latin America and Europe. He has a successful track record of building strong commercial relationships, sourcing and negotiating product licensing and acquisitions. He has served in senior roles across multiple regional and global companies, helping to define market challenges and build and execute on results driven strategies Jose holds a BSc from U of T and an MBA from Boston University.

Program kicked off with an innovation-focused event

At the late June event, innovators had the opportunity to meet the EIRs and a range of commercialization and biotechnology leaders.

Experts gave advice and perspectives on the Toronto ecosystem during a panel discussion called, ‘How can the ecosystem empower your commercialization goals?’ The panel featured Medicine by Design’s Brown along with U of T Professor Paul Santerre, who leads the Health Innovation Hub, a U of T-link on-campus accelerator, David Simpson, MedTech executive and entrepreneur who is also an EIR in the IPON-funded pilot program, and Feiran Zhou, manager at the Ontario Centre of Innovation (OCI).

The panelists commented on how the growth of the Toronto ecosystem has benefited entrepreneurs.

“If you think about Toronto, especially around the university and partner hospitals, over past five years, we’ve seen the life sciences ecosystem really start to mature,” said Brown. She pointed to process development expertise and increased manufacturing capacity for advanced medicines such as cell and gene therapies, through organizations like CCRM and OmniaBio Inc., as signs that Toronto is moving in the right direction toward launching and scaling science-based companies based on academic intellectual property (IP). “I think there are opportunities today that weren’t there even 6 or 7 years ago.”

The discussion was moderated by UHN Commercialization’s Bharti Ranavaya.

The event also featured a keynote talk from intellectual property expert Natalie Raffoul, managing partner of Brion Raffoul LLP, entitled, “Unlocking Ontario’s Innovation: A Strategic Framework for Intellectual Property and Commercialization.” In addition, IPON and Toronto Innovation Acceleration Partners (TIAP) presented on funding and support available to researchers looking to commercialize their IP.