HTX and Health Tech Cluster Switzerland partner to streamline a cross-Atlantic commercialization pipeline for medical devices
HTX and Health Tech Cluster Switzerland partner to streamline a cross-Atlantic commercialization pipeline for medical devices.
Toronto, January 2015
HTX, The Health Technology Exchange, recently signed its first European strategic partnership with Health Tech Cluster Switzerland (HTCS). Navigating the heterogeneous world of local and foreign market regulatory, reimbursement and health technology assessment requirements is challenging and time intensive and can pose major hurdles in medtech commercialization. Additionally, the relative size of the Canadian medical device market forces small and medium sized enterprises to look to larger global markets for commercialization opportunities. Through collaboration and international partnerships, HTX and HTCS envision a more seamless, bilateral approach to connecting the North American and European health tech communities and thereby minimizing time, risk and cost of market entry of innovative medical technologies into their respective markets.
“Ontario is home to a vibrant medtech ecosystem, world-class medtech companies and expert R&D capacities. Furthermore, our proximity to the US makes Canada an ideal conduit for disruptive technologies to access the North American market. This partnership with HTCS is aimed at fostering industrial and research collaborations and aligning innovative technologies with talent, capital and market access opportunities. Ultimately our goal is to maximize global commercialization opportunities of innovative Canadian health technologies, thereby facilitating early patient access to such technologies and maximized economic impact within the healthcare sector.” Shahira Bhimani, Manager Strategic Initiatives, HTX.
“We believe in a multitude of bilateral strategic and operational options for innovative SMEs on both sides of the Atlantic. Since 1st July 2009, Canada and Switzerland, along with the other European Free Trade Association (EFTA) states, have an extensive free trade agreement in place. This and several other advantages have not been applied in full to the benefit of commercial operations among SMEs in particular. This partnership will allow us to maximize on our individual capacities, in order to shorten time and path to market for disruptive health tech solutions.” Thomas Meier, Cluster Manager, HTCS.
HTX, The Health Technology Exchange (www.htx.ca)
From Invention through Innovation to International Invoice, HTX provides non-dilutive project financing to emerging and established Ontario-based companies to develop, produce and commercialize innovative market-leading advanced health technologies. Through the Health Technology Commercialization Program (HTCP) and HTX’s MedTech ecosystem support activities, HTX is the leading resource and catalyst for accelerating the growth of Ontario’s MedTech industry, and enhancing Canada’s position as a global leader in commercializing innovative medical technologies. HTX manages a $21.4M fund on behalf of the Ontario Ministry of Research and Innovation and is a member of the Canadian Venture Capital Association. Along with industry and strategic partners, the HTCP program has invested $86M in 33 companies over the last 4 years, de-risking technologies and business models, in anticipation of series A financing, regulatory approvals or accessing local or foreign markets.
HTCS, Health Tech Cluster Switzerland (http://en.healthtech.ch/
Health Tech Cluster Switzerland is a network of manufacturers, suppliers, research and training institutions, service providers and investors in the field of health technology. The cluster unites companies from the medical technology, healthcare, biotechnology, pharmaceutical technology and molecular biology industries in a mutually profitable way, thus increasing their added value.
The cluster management connects the three cornerstones of business, science and politics and makes an active contribution to the innovative strength of the cluster members.
Health Tech Cluster Switzerland is a young network. Founded in May 2014, the cluster includes 80 ecosystem members to date. HTCS defines itself as an initiative for an open business network. The market entry of companies in other regions and countries is facilitated through strategic partnerships – above all with foreign clusters and networks. Member companies benefit from the transfer of international know-how and technology, participation in cross-border projects, dedicated events and conferences, acquisition of new customers and suppliers and the identification of new partners. The same also applies to HTX members, who gain access to the companies and activities at HTCS and within its European partner network.