Biotechnology is an emerging avenue for economic growth for the province, bringing skilled industry jobs to Ontario and providing early access to experimental medicines for those living with cancer.
Most new healthcare innovations in cancer research are translated to patients through partnerships with the private sector. This makes commercialization critical to OICR’s mission.
OICR works with its strategic partner FACIT to ensure made-in-Ontario breakthrough technologies have a clear path from the lab to patients. FACIT works with Ontario entrepreneurs to maximize the value of homegrown intellectual property (IP) and capture the economic benefits through commercialization.
FACIT helps Ontario develop a local marketplace that capitalizes on the province’s cancer research investment and expertise. With its Ontario First commercialization model and IP strategy, FACIT creates and supports new Ontario-based companies that are well positioned to attract industry partners and investors.
How We Work
Although Ontario is well known for the academic excellence of its post-secondary institutes, local cancer research breakthroughs and IP are often exported to the United States, bringing with them talent, jobs and investment capital.
By contrast, OICR and FACIT employ a novel translational model that brings together multi-institutional collaborations to elevate the province’s best innovations. Our Ontario First mandate encourages entrepreneurs to develop their IP locally and helps companies grow roots in the province.
As OICR’s strategic partner, FACIT fills critical seed funding and resource gaps in the province, and helps remove barriers to commercialization that otherwise prevent novel oncology innovations from reaching their full potential.
FACIT also provides commercial planning for OICR’s research at an early stage to position the arising innovations for optimal value creation through licensing, private-sector investment, company formation and/or acquisition.
FACIT drives the most promising OICR innovations toward the clinic and marketplace, leveraging a deep understanding of the oncology market, business expertise, and IP strategy, as well as a broad network of industry and investor partners.