Toronto, – January 6, 2012 – MaRS today announces that its client Innovative Processing Technologies (IPT) Smarter Alloys has signed a joint development contract with one of the world’s largest dental supply companies. This agreement will further develop the company’s patent-pending Multiple Memory Material (MMM) technology for dental applications.

Available for licensing, MMM technology can create multiple shape memories, or pseudo-elastic properties, in a single shape memory alloy (SMA) part. This advance promises to revolutionize the design of a wide range of products, including medical and dental devices, micro-electromechanical systems (MEMS), printers, hard drives, automotive components, valves and actuators.

“This is an exciting undertaking since our technology is poised to greatly improve the functionality of smart materials used in orthodontic applications,” said Ibraheem Khan, President and CTO of IPT Smarter Alloys. “We’re especially pleased with this agreement because our partner has a proven track record of taking innovation and converting it into improved dental care.”

With the signing of this agreement, the MMM technology will provide dental engineers with much more freedom and creativity by enabling far greater functionality to be incorporated into dental products than is currently possible. For example, the technology changes the pseudo-elastic property of dental wire very discreetly over small transition zones, enabling orthodontists to target and treat individual teeth more effectively.

Less than a year after spinning off from the University of Waterloo’s faculty of engineering, IPT has been recognized by the Federal and Ontario governments for its breakthrough technology and efforts towards commercialization. “We’re delighted to have support from the Natural Sciences and Engineering Research Council of Canada (NSERC), Ontario Centres of Excellence (OCE) and the MaRS Discovery District,” added Mark Mull, Business Development Manager at IPT Smarter Alloys.

About IPT Smarter Alloys
Smarter Alloys is a division of Innovative Processing Technologies (IPT), a company dedicated to applying its MMM technology toward commercial applications. This technology allows virtually any shape memory or pseudoelastic part to be programmed with multiple localized functions. This advance promises to revolutionize the design of a wide range of products, such as medical devices, micro-electromechanical systems (MEMS), printers, hard drives, automotive components, valves and actuators.

About MaRS
MaRS Discovery District (Twitter: @MaRSDD) is a mission-driven innovation centre located in Toronto. MaRS works with partners to catalyze, accelerate and amplify innovation. MaRS supports entrepreneurs building Canada’s next generation of growth companies.

For more information, contact:

Chris Stevenson
Director, Communications
(416) 673-8104
cstevenson@marsdd.com