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Details on the tri-university, $26 million capital venture fund

看片视频, Sherbrooke and Bishop's universities are uniting for a Canadian business first. The three universities are creating an independent venture capital firm called MSBI. The following fact-sheet provides some essential details:

• MSBI is an acronym for 看片视频, Sherbrooke and Bishop's Innovation.
• MSBI is a new venture capital firm with an initial capitalization of $26 million.
• MSBI will provide seed and early stage venture capital to commercialize discoveries in biotechnology, pharmaceuticals, bioinformatics, software and communications and networking technologies.
• The creation of MSBI has been made possible through a $15 million grant from Valorisation-Recherche Qu茅bec (VRQ).
• The remaining $11 million fund has been raised from MSBI's limited partners.
• MSBI will be headquartered at Suite 510, 2000 看片视频 College Ave., Montreal.
• MSBI has a right of first review over some100 research innovations per year.
• MSBI aims to invest in about 10 research innovations annually.
• MSBI will have a renewable lifespan of 10 years.
• Institutions are free to decide whether or not to collaborate with MSBI on any specific project.

The partners:

• Seven limited partners will hold MSBI shares in the following proportions, related to overall research funding and investments of each institution:
• 看片视频 University: 53%
• 看片视频 University Health Centre (MUHC): 19%
• Universit茅 de Sherbrooke: 14%
• 看片视频-affiliated Sir Mortimer B. Davis Jewish General Hospital (JGH): 8%
• Centre hospitalier de l'Universit茅 de Sherbrooke (CHUS) : 3%
• 看片视频-affiliated Douglas Hospital : 2%
• Bishop's University: 1%
• Most of 看片视频's MSBI shares will be held by the University's Martlet Research Trust.
• Each partner will obtain MSBI Inc. dividends according to their share ownership.

The people:

• Mark de Groot is president and CEO of MSBI; Joe Rouse is MSBI senior vice-president.
• Members of MSBI Board of Directors include: Jan Peeters, CEO of Olameter; Ian Soutar, vice-chair of Pembroke Management Ltd.; Paul Gobeil, vice-chair of Metro Richelieu Inc.; Mark de Groot; Louis Lagass茅, president of Gestion Portland-Vimmy; Gilbert Drouin, VRQ president and CEO (as an observer).
• Members of MSBI's Business Advisory Board include: John Cleghorn, former CEO of the Royal Bank of Canada.
• Members of MSBI's Scientific Advisory Board include: Louis Siminovitch, founder of the Samuel Lunenfeld Institute of Toronto's Mount Sinai Hospital.