Multi-million dollar initiative to help commercialize high growth research and development projects Montréal, Québec, Canada, November 18, 2004 -- MSBi Capital, which manages a fund that provides seed and early-stage venture capital for the commercialization of innovations in information technology, the life sciences and the physical sciences, announced today the official launch of MSBi Valorisation. MSBi Capital and Canada Economic Development both financed MSBi Valorisation, with DEC contributing 4 million dollars to the initiative, in order to finance the commercialization of university research. MSBi Valorisation (or MSBiV) valorizes technology projects and early-stage opportunities, turning them into financeable companies capable of attracting financing from venture capital funds such as MSBi LP. MSBiV selects promising technologies originating in large measure from the universities of McGill, Sherbrooke and Bishop's, as well as their affiliated hospitals and research institutes, and then oversees specific valorization activities such as market analyses, research and development assessment, including commercial proof of principle demonstrations, scientific evaluation and intellectual property protection. The Honourable Jacques Saada, Minister of Canada Economic Development and Minister responsible for the Francophonie, said: " We are very pleased to participate in MSBi Valorisation. The provision of support for the commercialization of academic research is of paramount importance to the government of Canada. MSBi Valorisation and MSBi Capital are important actors to help us achieve this objective." "MSBi Valorisation fills an important gap in the commercialization process. After years of research, opportunities emerging from research institutions often require early stage support to position them as viable companies that venture funds such as MSBi LP and others can invest in", added Mark de Groot, President and CEO of MSBi Capital. MSBi Valorisation is now operational and has started supporting a range of opportunities originating from MSBi's academic partners. Technologies currently being valorized by MSBi Valorisation include inventions in oncology, drug development, plastic displays and nanofabrication. About MSBi Capital MSBi Capital manages a seed and early-stage venture capital fund, MSBi LP, which is dedicated to commercializing innovations in information technology, the life sciences and the physical sciences. MSBi Capital has a particular focus on establishing and building companies based on technology advancements and inventions originating from the universities of McGill, Sherbrooke and Bishop's, as well as their affiliated hospitals and research institutes. MSBi Capital maintains offices in Montreal, Québec, Canada. More information about MSBi is available at www.msbi.ca. About Canada Economic Development Canada Economic Development's mandate is to promote the economic development of the regions of Quebec. Primarily through financial assistance programs, the Agency elicits and supports the implementation of economic development projects. The two priorities the Agency has set itself are to foster innovation and the knowledge economy in each region of Quebec, and to help communities that are having difficulty adjusting to the new economy. In this way, the Agency contributes to the attainment of the Government of Canada's objective of building the 21st Century economy. For more information, see www.dec-ced.gc.ca. -30- Editorial Contact: Hélène Jutras, MSBi Capital514-982-9044 hjutras@msbi.ca Guylaine BeaudoinCommunicationsCanada Economic Development (514) 283-0368(418) 580-8215 (cell) Daniel DezaindePress SecretaryOffice of the Honourable Jacques Saada(514) 496-1282
