ARTMS Wins BC Tech Association Technology Impact Award

ARTMS Products Inc. Wins ‘Most Promising Pre-Commercial Technology’ at BC Tech Association Technology Impact Awards

TRIUMF Innovations spin off wins for development of innovative production solution for diagnostic imaging isotope

Newswise — ARTMSTM Products, Inc. (ARTMS), a Vancouver-based medical technology company, today announced they received “Most Promising pre-Commercial Technology” award at the 2017 BC Tech Association Technology Impact Awards (TIAs) on June 22, 2017. The award is given to a company in any stage of growth for a pre-commercial technology in development that has the potential to commercialize within five years.  

ARTMS is one of five spin off companies founded by TRIUMF Innovations, the commercialization arm of TRIUMF, Canada’s particle accelerator centre located in Vancouver, BC.

ARTMS was recognized at the 2017 TIAs for its innovative production solution for technetium-99m (Tc-99m), the world’s most-used diagnostic imaging isotope. It is used in more than 80% of all nuclear medicine imaging procedures and is vital to patient care in areas such as cardiology, oncology, and neurology. ARTMS’ breakthrough technology enables a reliable, cost-effective, and safe supply of this critical medical isotope using common hospital-based and commercial cyclotrons, a type of particle accelerator. ARTMS’ decentralized solution offers the potential to revolutionize medical isotope production by providing a means to produce Tc-99m locally and on-demand at hospitals, clinics, and radiopharmacies that already have medical imaging infrastructure in place. This cyclotron-based production approach provides an alternative to sourcing Tc-99m from nuclear reactors, many of which are ageing and increasingly unreliable, resulting in significant Tc-99m supply disruptions in recent years.

“The development and rollout of the core technology behind ARTMS represents a huge success for British Columbia’s technology sector, especially in the area of particle accelerators applied to medicine," said Dr. Paul Schaffer, CEO, ARTMS. “TRIUMF and TRIUMF Innovations have been instrumental in helping us get to this stage of commercialization of the Tc-99m production solution, and winning the TIA is further reinforcement that we are moving in the right direction.”

“We are delighted that the BC Tech Association has recognized the ground breaking, important work that Paul and his team do at ARTMS and congratulate them on this well-deserved award,” said Kathryn Hayashi, CEO, TRIUMF Innovations. “TRIUMF continues to produce world leading, innovative technologies in the field of accelerator-based science, and ARTMS is at the forefront of our efforts to take these technologies to market.”

The TIAs were founded in 1994 by the by the BC Tech Association, to recognize successes of the technology industry in British Columbia and its companies, people and products.  The TIAs are the longest-running and largest technology award program in BC, presented in June in front of an audience of more than 1,000 technology leaders and industry supporters.

ABOUT ARTMSTM Products, Inc. ARTMS™ Products Inc. is a leader in the development of novel technologies and products which enable the production of the world’s most-used diagnostic imaging isotope, technetium‐99m (Tc‐99m), using local, hospital-based medical cyclotrons. ARTMS holds the exclusive global commercialization rights to award-winning and proprietary Canadian inventions which address these challenges and which offer the prospect of revolutionizing the nuclear medicine industry.

About TRIUMF Innovations Inc. TRIUMF Innovations Inc. is the commercialization arm of TRIUMF –  Canada’s particle accelerator centre – focused on linking cutting-edge science and technology to tangible business opportunities. TRIUMF Innovations interfaces with the business world by providing market opportunities for applied physics-based technologies that emerge from the TRIUMF network; by streamlining access to TRIUMF’s world-class expertise and infrastructure; and by connecting TRIUMF researchers and technologies to the world via industry partnerships, licensing, and business development.

From Research to Reality: TRIUMF Innovations to Unleash Canada’s World-Leading Capabilities in the Physical Sciences

Innovations emerging from the physical sciences have transformed our modern world. TRIUMF – Canada’s national particle accelerator laboratory – today announces the formation of TRIUMF Innovations, the laboratory’s new commercialization arm.

TRIUMF Innovations will connect science with society, translating Canada’s world-leading capabilities in the physical sciences into commercialized innovations for the benefit of all Canadians. 

TRIUMF Innovations will serve as a national commercialization engine/accelerator focused on applied physical sciences. It will actively connect academic researchers, industry partners, government stakeholders, and trainees, accelerating the commercialization of innovative physical sciences technologies from TRIUMF and partner institutions.

“Successful commercialization links science with real, measurable improvements in the lives of Canadians,” says TRIUMF Director Dr. Jonathan Bagger, “and TRIUMF Innovations is key to unleashing the commercialization potential of a sector where Canada has long been a world leader in research.” 

TRIUMF Innovations will be TRIUMF’s primary business interface, responsible for all of the laboratory’s commercialization activities. It will leverage the talent, experience, and capacity of TRIUMF – as well as its national network of 19 member universities – to unleash the untapped potential of Canada’s physical sciences community.

TRIUMF Innovations has successfully recruited a new CEO, Ms. Kathryn Hayashi, who has extensive experience in commercialization and operation of incubator/accelerator operations. 

“Until now, the advanced physical sciences has remained underdeveloped from a business perspective. TRIUMF Innovations has an important role to play in offering this business capability to its national cluster of members and collaborators,” says Hayashi. “With the infrastructure, expertise, and network we have aligned, TRIUMF Innovations is positioned to be the go-to place to explore business opportunities related to the physical sciences and translate ideas into impactful innovations.” 

A new Board of Directors has been assembled that includes highly experienced members from accelerators, industry, and the investment community: TRIUMF Innovations Board Chair Ms. Karimah Es Sabar (CEO of Quark Venture, and Former CEO of CDRD), Dr. Mike Abrams (Former Executive VP and Managing Director Arbutus Biopharma, Former CEO of AnorMed), Dr. Jonathan Bagger (Director, TRIUMF), Dr. Don Brooks, (Former AVP, Research & International, University of British Columbia), Dr. Pierre Coulombe (Former President, NRC), Mr. Haig Farris (President, Fractal Capital and Founder, D-Wave), Dr. Colin Jones (Former AVP, Research, Simon Fraser University), Mr. Sylvain Lévesque (VP Corporate Strategy, Bombardier), and Mr. Parimal Nathwani (VP Commercialization, MaRS Innovation).  

Full bios can be found at https://www.triumfinnovations.ca/team/

"The collective expertise of the Management and Board of TRIUMF Innovations in translating and commercializing early stage technologies, combined with the world leading scientific team at TRIUMF establishes a powerful innovation engine in this sector" says Es Sabar, TRIUMF Innovations Board Chair and CEO of Quark Venture.  "This could significantly improve the impact of the physical sciences sector on economic development in Canada; an area in which Canada is already a world leader."

As a national endeavor, TRIUMF Innovations’ commercialization capabilities will be focused on:

• Assessing, triaging and validating technologies suitable for commercialization

• Preparing business cases and assembling investor-ready presentations and diligence packages

• Creating companies and enabling investment

• Engaging and developing entrepreneurs

• Establishing, developing and maintaining successful industry partnerships with SMEs and MNEs

• Out-licensing TRIUMF technologies and providing a business interface for TRIUMF sales and services to private sector companies and investors

 

You can find the published newswire story here:

http://www.newswise.com/articles/from-research-to-reality-triumf-innovations-to-unleash-canada-s-world-leading-capabilities-in-the-physical-sciences