Oncology accelerator lands on MaRS

MaRS Innovation, a Canada-based commercialisation firm working with several universities in the Toronto area, has partnered with the Fight Against Cancer Innovation Trust (FACIT) to turn the Triphase Accelerator Corporation into an oncology development accelerator.

Triphase, an Ontario Institute for Cancer Research, was originally formed in 2010 by MaRS and FACIT to be a cancer-focused biotech development firm which aimed to reduce time and expense between new drug applications and the proof-of-concept phase.

Following its formation, Triphase entered into an agreement with US-based biotech Celgene, which gave Celgene the rights of first refusal on the first three products Triphase generated. After its first product came about in 2012, Celgene initiated the collaboration with an undisclosed upfront payment.

Frank Stonebanks, Triphase founder, said: “I am thrilled with the support by FACIT, MaRS Innovation Ventures Trust and MaRS Phase II Investment Trust to form Triphase, and now also with the partnership we have struck with Celgene, a leader in innovative research and development for the treatment of cancer. We believe we have created a very efficient engine to advance potentially important oncology products for patient benefit.”