The challenge: Canada’s biotechnology sector is fueled by a pipeline of world-class university science, but a lack of capital and experienced business leaders has resulted in many young firms failing or being sold to foreign companies. CCAB addresses these shortcomings by helping Canadian-based startups find the products, talent and capital to make it to market.
The response: CCAB bridges the cutting-edge research and discovery at the Toronto Recombinant Antibody Centre (TRAC) with the venture capital and biotech sectors to reduce the time, cost and risk of bringing new therapeutics, diagnostics and reagents to market. In 2014, TRAC assets were the basis of the launch of Northern Biologics, which specializes in new antibody therapies for cancer and fibrosis. The company has since attracted international investors with deep pockets, including VC Versant Ventures and Celgene, and has recently merged with Mosaic Biomedicals of Spain to create a global oncology company that will move its antibodies into clinical trials. Since then, CCAB’s talented business development team has helped produce pre-market-, pre-clinical-ready biologics and negotiate licensing deals of TRAC antibodies.