Vancouver, Canada – January 9, 2020: With a shared vision to be a catalyst for Canadian life sciences leading the world, adMare BioInnovations, Canada’s Global Life Sciences Venture (adMare), and Accel-Rx, Canada’s Health Sciences Accelerator (Accel-Rx), announced today they are bringing their respective capabilities and resources together under adMare to create a world leading organization. The combined efforts will be guided by adMare’s Board of Directors, under the leadership of adMare management, and will continue the investment and programming efforts pioneered by Accel-Rx since 2014.
The addition of Accel-Rx’s expertise in seed stage investments and entrepreneur development strengthens adMare’s position as a single-stop destination with the necessary scientific, business, infrastructure, and capital resources to grow and scale health related technology companies in Canada. Together, adMare and Accel-Rx will stimulate co-investment by private investors to provide sufficient capital for early stage life sciences companies, and help enable them to successfully create sustainable value in Canada.
“We are excited to bring Accel-Rx into the adMare family. Together we have a fantastic opportunity to help companies become globally competitive, and contribute to the sustainability of the Canadian life sciences ecosystem,” said Gordon C. McCauley, President and CEO of adMare BioInnovations.
“Canada has extraordinary research and entrepreneurial drive. The addition of Accel-Rx is an important component as we assemble the science, people, and capital to help develop the next generation of anchor companies, positioning Canada as a top tier life sciences hub.”
“This is an important amalgamation of expertise and resources that will help advance the sector and continue the significant impact Accel-Rx has been able to make. As I pass the Accel-Rx torch to the adMare team, I’m proud of the fact that we have been able to address the funding gap at the seed level, and excited to see that mandate continue on a larger scale. Likewise, the support programs Accel-Rx has developed complements the adMare Academy and together will strengthen our shared initiatives around pipeline generation and talent development,” said Natalie Dakers, Founding President and CEO of Accel-Rx.
Current Accel-Rx investments and portfolio companies will continue to be led by Frédéric Lemaître Auger, who will be based in Montréal at adMare’s NÉOMED Innovation Center and will also assume responsibility for adMare’s portfolio of spin-out companies. The combined organization has helped build companies that are worth over $2 billion and employ more than 700 Canadians. Accel-Rx’s investment decisions will continue to be overseen by an Investment Committee comprised of independent industry experts.