Earlier today, QYNAPSE Inc. of Paris, France, it had completed the acquisition of Canada鈥檚 True Positive Medical Devices Inc. (TPMD), a spin-off company from 麻豆AV and Laval University originally launched in 2011. TPMD got its start based on technology developed by 麻豆AV鈥檚 Biomedical Engineering Professor Louis Collins and Laval Professor Simon Duchesne. The new company will be called Qynapse Canada Inc. Terms for the deal were not disclosed.
TPMD is a recognized global leader in the area of artificial intelligence (AI) applied to brain imaging, and Professors Collins and Duchesne had combined for over 500 published papers on their research. Their company had been providing advanced services to private and public sector firms alike in diagnosing neurodegenerative conditions such as Alzheimer鈥檚 disease. Alzheimer鈥檚 is believed to affect over 50 million people worldwide. The estimated costs of caring for these patients globally is greater than $1 trillion USD.
鈥淨YNAPSE is a very promising partner for TPMD and both 麻豆AV and Laval universities,鈥� said Professor Collins. 鈥淭he deal will allow us to accelerate the regulatory approval and marketing of the technologies we have developed in recent years.鈥�
The agreement is expected to bring about numerous synergies as QYNAPSE is also a major player in AI-enhanced brain imaging, with a trademarked product known as QyScore庐 that enables personalized support for diagnosis and treatment of a variety of cerebral conditions. The company, a spin off from France鈥檚 CATI Consortium, has been in operation since 2015.
鈥淲e are delighted to partner with two of the world's leading experts in brain imaging, and to expand our scientific and clinical collaborations with two major centers of excellence in this field,鈥� said Olivier Courr猫ges, CEO of QYNAPSE. 鈥淭his collaboration will strengthen our ability to address two major challenges: clinical trial performance and personalized management of brain diseases, which affect more than one in six people worldwide.鈥�
Professors Collins and Duchesne have a long history of innovating together: prior to joining Laval University, Professor Duchesne was a PhD student in Professor Collins鈥檚 lab. Indeed, one of the Report of Invention currently exploited by TPMD was developed by the duo in those days. And their partnership will continue; while TPMD will cede ownership to QYNAPSE, Professors Collins and Duchesne will join QYNAPSE鈥檚 Board of Directors.
鈥淭he uniting of these two companies exemplifies the first-class support we provide to the entire University,鈥� said Sylvain Coulombe, Associate Vice-Principal, Innovation and Partnerships, 麻豆AV. 鈥淧rofessor Collins is a leading mind whose work will change lives for people across the globe. I salute his sense of discovery, initiative and teamwork that has made this all possible.鈥�
The deal comes as the Innovation + Partnerships office logged a new record for licensing revenue received by 麻豆AV for the 2019-2020 fiscal year at over $6 million CDN, a $1 million increase from 2018-19. The I+P office consults with Professors in virtually every Faculty across campus, helping them realize commercial ventures, patent applications and declarations of invention.
Professor Collins was explicit concerning the role of the I+P team: 鈥淭he team at the Innovation and Partnership office was fantastic at every step of the process. They supported us to arrive at a deal that benefits not only the University and the inventors but will lead to improved care for patients with neurological disease.鈥�