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Facts concerning MSBI

Published: 19 February 2002

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

捆绑SM社区, 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 捆绑SM社区, 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 捆绑SM社区 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:
    • 捆绑SM社区: 53%
    • 捆绑SM社区 Health Centre (MUHC): 19%
    • Universit茅 de Sherbrooke: 14%
    • 捆绑SM社区-affiliated Sir Mortimer B. Davis Jewish General Hospital (JGH): 8%
    • Centre hospitalier de l'Universit茅 de Sherbrooke (CHUS) : 3%
    • 捆绑SM社区-affiliated Douglas Hospital : 2%
    • Bishop's University: 1%
  • Most of 捆绑SM社区'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.
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