Toronto Innovation Acceleration Partners (TIAP) and Evotec SE recently announced that the two companies have expanded LAB150, their translational BRIDGE partnership, to include Amgen as a strategic partner. The expansion goes along with a combined investment of US$14M to expedite LAB150 programs towards the formation of new companies.
LAB150 was created by TIAP and Evotec in 2017 to accelerate Toronto’s academic research into market-ready products. The expanded agreement builds upon existing partnerships between TIAP, Evotec, and Amgen to support the development of disruptive therapeutics by TIAP’s member base and draws upon Evotec’s industrialized drug discovery platforms.
Amgen will provide financial support for chosen LAB150 projects along with significant mentorship from their drug discovery and development teams. In addition, Amgen Ventures will evaluate LAB150-derived companies for venture investment. These combined efforts will amplify the efficiency and translational potential of academic research to develop Canadian intellectual property, novel therapies, and accelerate commercialization by Canada’s next generation of life science companies.