AHFMR News
Executive-in-Residence recruited to help grow biotech firms
AHFMR support launches TEC Edmonton service for U of A start-ups
(Edmonton, AB) February 22, 2006... TEC Edmonton and the Alberta Heritage Foundation for Medical Research (AHFMR) today announced the recruitment of an Executive-in-Residence who will help improve the viability and growth potential of several new University of Alberta spinoff companies.
"We are very pleased to announce the recruitment of Ron Matheson to lead this pilot project focused on providing strategic guidance, business planning, and management stewardship to a group of early stage start-up companies," said Pamela Freeman, Acting CEO for TEC Edmonton and Manager of the JumpStart Program. "AHFMR's partnership has given us the ability to attract an experienced senior business manager who will give hands-on advice to help grow an exciting group of high-tech companies."
The project is funded through AHFMR's ForeFront Program, which supports the development of Alberta health industries and the application of health research through education, mentorship and project funding related to technology commercialization. Matheson will work with three or four companies over a year to advance their business strategies and help address specific challenges and opportunities. The companies are University of Alberta spinoff companies that have already received support from AHFMR's Technology Commercialization Program or may be applying to the program in the near future. Activities will include assessing the business plan, investigating manufacturing options, consulting on clinical and regulatory issues, and helping address financing and infrastructure needs.
"This is a unique opportunity for AHFMR and TEC Edmonton to collaborate by bringing in senior-level management with relevant industry experience and appropriate networks to truly advance the application of research and technologies to the next levels of commercialization," said Linda Humphreys, Vice-President, Corporate Affairs and Commercialization, AHFMR.
Ron Matheson brings a wealth of knowledge and experience to the program. Since 2000, Matheson was the business unit manager in charge of medical and life sciences for University Technologies International Inc., the technology transfer office of the University of Calgary. In this role, Matheson was involved in executive management and business planning support for biotech start-up companies, including working to secure seed funding and recruit management. His activities also included technology assessment, marketing and licensing. From 1994 to 2000, Matheson was chairman, president and CEO of SynChem Research Inc., an Ottawa-based pharmaceutical start-up that he helped launch then navigate into a strategic alliance with an established pharmaceutical company. His activities ranged from raising venture capital to contributing to the company's intellectual property portfolio, and from recruiting a strong scientific advisory board to coordinating the evaluation of product candidates. Matheson was a consultant for the pharmaceutical and medical device industry from 1993 to 2000 with RJM Research Inc. and served as business unit manager for Berlex Canada Inc. from 1988 to 1992.
"I am excited about working with a promising group of companies based on technologies created by top researchers at the University of Alberta," said Matheson. "Even with the best technologies and revolutionary inventions, there is a lot of work turning ideas into viable products and services in the marketplace. I hope I can bring some insights and resources to help these start-ups succeed so all Albertans can access beneficial innovations made by companies that become future contributors to our regional economy."
For more information call Dwayne Brunner, AHFMR Communications, at (780) 423-5727
Backgrounder
The Executive-in-Residence project is offered by TEC Edmonton through the JumpStart Program, which provides services to high-tech start-ups in the region. The Executive-in-Residence project is funded by AHFMR's ForeFront Program.
The Executive-in-Residence will provide a small number of University of Alberta spinoff companies in the health sciences sector with direct leadership and management mentorship to help develop business strategies, improve product applications and increase viability of the companies. Early stage technology companies frequently require experienced business and management resources to advance company development. However, due to the extensive technology enhancement requirements faced by these companies, especially in the health sciences, resources are often limited for recruiting necessary talent. This Executive-in-Residence project will give start-ups free access to experienced management assistance, which may involve securing investment capital and the eventual recruitment of business staff. TEC Edmonton also has the ability to place in start-ups part-time MBA students from the University of Alberta School of Business. This service will complement the strategic guidance of the Executive-in-Residence. This pilot project will be evaluated after the first year, with a goal to continue into the second year.
About AHFMR (www.ahfmr.ab.ca)
Established by the Government of Alberta in 1980, with an initial investment of $300 million, the Alberta Heritage Foundation for Medical Research (AHFMR) supports biomedical and health research at Alberta universities, affiliated institutions, and other medical and technology related institutions. Since 1980, AHFMR has contributed more than $800 million directly to the scientific community and has supported more than 8,500 positions, providing unprecedented opportunities for research careers. AHFMR currently supports over 600 researchers at all levels throughout Alberta. Since 1985, AHFMR has provided more than $22 million in funding to researchers and innovators who have undertaken more than 275 health research commercialization projects.
About TEC EDMONTON (www.TECedmonton.com)
TEC Edmonton, is a not-for-profit service organization formed in 2004 as a joint venture between Edmonton Economic Development Corporation and the technology transfer unit of the University of Alberta. "TEC" stands for the areas the organization helps develop: Technology, Entrepreneurs and Companies. TEC Edmonton provides access to unbiased expertise, resources and connections that help inventors and entrepreneurs succeed in technology-based ventures. TEC Edmonton's core programs:
- The Technology Transfer Program helps university inventors protect intellectual property and transfer new inventions to the marketplace
- The VenturePrize Program helps entrepreneurs gain the skills to build viable businesses through seminars, mentorship, professional feedback and an Alberta-wide business plan competition
- The JumpStart Program helps university spinoff companies and similar technology start-ups access resources, advice and support networks necessary for growth
- The Alberta Deal Generator Program prepares high-growth technology start-ups for financing and connects them with accredited, active investors in Canada's largest angel network
TEC Edmonton also operates the Research Transition Facility to provide high-tech start-ups with affordable space and incubation-type services. This facility and TEC Edmonton will move to the former Bay building in downtown Edmonton in 2007.