Page 14 - Synapse Life Sciences Consortium
P. 14

eye3 Concepts:

        ‘Takes a Village’

        eye3 has developed a rugged, handheld
        detection device to test for THC and alcohol.
        It requires a single saliva sample and
        results come in less than a minute.

        “This technology fills a large gap in a
        growing market,” said Kate Riley, CEO and
        Director of eye3. The drug screening market
        is worth USD $4 billion and growing by 17
        per cent a year. It’s estimated it will be a
        USD $13.5 billion market in 2027.
        “Existing solutions take a long time to
        process and in some cases, can’t detect
        the low thresholds that some jurisdictions
        want,” says Riley.
                                                  A place of partnerships
        The company is growing rapidly, doubling
        the size of its research team, along with   Hamilton is a national leader in post-secondary
        product development and regulatory teams.   partnerships with industry. mcmaster University and
        Company founder David Wilson found the    mohawk College are consistently among Canada’s best
                                                  research institutions and its two world-class research
        mentors, connections, facilities, talent and   hospitals – Hamilton Health Sciences and St. Joseph’s
        service providers he needed in Hamilton.  Healthcare Hamilton.

        All research is taking place at McMaster   the university, led by the expertise of the mcmaster
        and a search is underway for local office   Industry Liaison Office, is a long-time powerhouse when
        space.                                    it comes to commercialization of research, including
                                                  through licensing and royalties, patents issues and
        “There is a real opportunity in Hamilton   start-ups created.
        and there is momentum in an ecosystem     in September 2021, the university launched the
        that speaks to each other. Everyone was   mcmaster Seed Fund, an early-stage investment vehicle
        willing to pick up the phone and rally the   that will offer up to $500,000 to innovative start-up
        resources for him. He got access to the   companies that are spinning out from mcmaster’s
        channels he needed to grow,” said Riley.  research. these start-ups have the potential for
                                                  significant economic or societal impact in the Hamilton
        “It’s always said it takes a village to raise   region and beyond.
        a child. But it also takes a village to grow
        a company and we’ve found that village in   “While many of our researchers have enjoyed great
                                                  success with start-ups, they all would agree that the
        Hamilton.”                                most daunting task is securing the initial funding,” said
                                                  Karen mossman, mcmaster’s Vice-President, research.

   9   10   11   12   13   14   15   16   17   18   19