[news 2005- 2006]

PARTEQ awarded CIHR funding for commercial development intern

New training program targets recent MBA graduates

For immediate release

April 1, 2005

KINGSTON, ON -- PARTEQ Innovations has been awarded $49,000 from the Canadian Institutes of Health Research (CIHR) to hire and train a Commercial Management Fellow in the development of promising health sciences technologies generated by Queen’s University researchers.

The funding, provided under CIHR’s recently established Commercialization Management Grants Program, will support a recent MBA graduate in a year-long training program in the assessment, protection and commercialization of research developments in health-related disciplines at Queen’s.

The Commercialization Management Grants Program was established to enhance professional development of intellectual property managers, and to assist universities and hospitals in better managing intellectual property arising from health research.

“This is good news for PARTEQ,” says John Molloy, President and CEO of PARTEQ. “Increases in sponsored research funding in health sciences and the establishment of specialized research chairs, coupled with the maturation of a number of our health-related technologies, has placed our existing commercial development staff in a prioritization bind. The addition of this trainee will enable us to do a better job of proactively seeking commercialization opportunities and interacting with Queen’s health researchers. This kind of relationship-building is essential to keeping the pipeline of life sciences opportunities flowing, especially since many of Queen’s past commercial successes have stemmed from life science discoveries.”

“We are extremely pleased with this announcement and are grateful to CIHR for establishing innovative programs such as this to facilitate the process of translating health research into market discoveries,” says Dr. Kerry Rowe, Vice-Principal (Research) at Queen’s. The health and well-being of Canadians will ultimately be improved through enhancing our ability to assess, protect and commercialize leading-edge health research.”

About PARTEQ Innovations
PARTEQ Innovations is the technology transfer arm of Queen’s University. PARTEQ works with Queen’s researchers and the business and venture capital communities to bring early stage technologies to market. Since its inception in 1987 PARTEQ has been instrumental in the establishment of nearly 40 companies developing a variety of products, from breakthrough drugs for Alzheimer’s, cancer and heart disease to drought-resistant crops, data-mining software and solar-powered renewable energy appliances.
www.parteqinnovations.com

About CIHR
The Canadian Institutes of Health Research is the Government of Canada’s premier agency for health research. Its objective is to excel, according to internationally accepted standards of scientific excellence, in the creation of new knowledge and its translation into improved health for Canadians, more effective health services and products and a strengthened Canadian health care system.
www.cihr-irsc.gc.ca

Information:
John Molloy
President & CEO
P: 613. 533. 2342
F: 613. 533. 6853
jmolloy@parteqinnovations.com