Blend of scientific, industry, investment and entrepreneurial expertise complements FACIT’s leading role in growing Ontario’s life sciences commercialization
TORONTO, ON (January 26, 2021) – The Board of Directors of FACIT, a commercialization venture firm for Ontario cancer innovations, is pleased to report on the addition of Mr. Ken Newport, in the role of Director. Mr. Newport is a passionate executive and advocate of Ontario’s life science sector, having decades of leadership experience in both public and private ventures. A chartered accountant by training, Mr. Newport founded and was President of CroMedical Global Inc., a contract research organization he helped grow to 600 employees and later merged with PRA International Inc. He has also founded several other biotech start-ups including global Biomedical Capital Corporation, Zelos Therapeutics, and Prime Trials Inc., and has served on several boards including Jenerex, Nordion, MedGenesis, Aeterna Zentaris, OICR, OHRI and BioCanRx.
FACIT also congratulates Board member Dr. Shana Kelley on her appointment to the Order of Ontario. Dr. Kelley was recognized for her contributions to advancing drug discovery and diagnostics, including her leading entrepreneurial role in FACIT start-up Cellular Analytics.
FACIT’s Board, with its deep experience and strategic insights, is critical to helping FACIT achieve its mandate of commercializing Ontario’s most promising cancer innovations to the benefit of the local economy and patients. In addition to Dr. Kelley and Mr. Newport, FACIT’s Board consists of Mr. John Morrison, Mr. Har Grover and Mr. Ken Lawless. Bios of individual Board members can be found on FACIT’s website. Mr. Kevin Empey is stepping down from the Board to focus on his work within the Board of FACIT’s strategic partner, the Ontario Institute for Cancer Research (OICR).
“On behalf of FACIT, I am pleased to welcome Mr. Newport to the Board, and congratulate Dr. Kelley on her prestigious achievement,” said Mr. Morrison, Chair of FACIT. “The Board’s entrepreneurial and industry expertise is invaluable during this time of heightened interest in translating the health system benefits of homegrown intellectual property. We thank Mr. Empey for his insight and guidance in supporting FACIT’s mission to realize the full potential of Ontario’s valuable cancer-related IP.”
FACIT is an award-winning commercialization venture firm that builds companies with entrepreneurs to accelerate oncology innovation, with a portfolio that has attracted more than $1 billion in investment to Ontario. Blending industry experience, capital and the unsurpassed clinician-scientist network of its strategic partner the Ontario Institute for Cancer Research (OICR), FACIT capitalizes on the province’s investment in research and healthcare to the benefit of the local economy and patients worldwide. FACIT’s commercialization portfolio includes Turnstone Biologics, Fusion Pharmaceuticals, Triphase Accelerator and other biotechnology organizations. Cancer Breakthroughs. Realized. facit.ca.
FACIT actively manages our diverse portfolio of Ontario oncology assets (including therapeutics, imaging, diagnostics, and technology platforms) that span all stages of commercialization, from proof-of-concept to clinical development.
With critical seed funding, FACIT makes it possible for Ontario’s best cancer research discoveries to compete globally and reach patients.