NRC-IRAP Invests in Waterloo Medical Technology Company

September 22, 2009

 

Waterloo, Ontario — Doctors will soon have an easier way to monitor blood pressure near the hearts of their patients, thanks to a new project funded under the Government of Canada’s Economic Action Plan. Peter Braid, Member of Parliament for Kitchener-Waterloo made the announcement at Mespere Lifesciences Inc. in Waterloo today, on behalf of the Honourable Gary Goodyear, Minister of State (Science and Technology).

"The Government of Canada is investing in science and technology to create jobs, strengthen the economy and improve Canadians’ quality of life," said Mr. Braid. “This project will help patients and allow a Waterloo company to bring an important new innovation to the marketplace, which is good for the local economy.”

This $122,618 contribution from the National Research Council’s Industrial Research Assistance Program will support the Waterloo-based company in researching and developing a pain-free, portable, non-invasive way to allow physicians to monitor the pressure of blood near the heart in real time. This project is supported by the Community Adjustment Fund.

The funding supports an innovative research and development project that will assist Mespere Lifesciences in developing state-of-the-art technology that makes diagnostic tests and health monitoring non-invasive and more cost-efficient.

The Government of Canada’s Economic Action Plan is providing $1 billion over two years for the Community Adjustment Fund (CAF), an economic stimulus initiative to create employment opportunities and support adjustment measures in communities impacted by the economic downturn. This year, NRC-IRAP will deliver $17.5 million of the CAF component in Southern Ontario on behalf of Industry Canada.

"Investing in science and technology is critical for developing highly skilled people and improving the long-term competitiveness of Canadian firms," said NRC President Dr. Pierre Coulombe. "That's why NRC-IRAP is helping innovative Canadian businesses such as Mespere Lifesciences grow stronger, faster, and bigger."

This project will assist the company in commercializing its portable, non-invasive central venous pressure monitor for North American markets. Central venous pressure is the pressure of the blood near the heart.

"NRC-IRAP is playing an important role in the success of the company,” said Krishna Conjeevaram, Vice-President of business development for Mespere Lifesciences. “The financial support we are receiving from NRC-IRAP will help us continue to innovate high-tech solutions for the health-care industry in North America.”

About NRC and NRC-IRAP

The NRC Industrial Research Assistance Program (NRC-IRAP) provides a range of both technical and business-oriented advisory services along with necessary financial support to qualified innovative Canadian small- and medium-sized enterprises.

The program is delivered by a field staff of 240 professionals in more than 100 communities across Canada. NRC-IRAP is committed to working with small- and medium-sized enterprises while they realize their full potential, turning knowledge and innovation into strategic opportunities, jobs and prosperity for all Canadians.

The Government of Canada’s Economic Action Plan has provided new resources of $200 million over the next two years to bolster NRC-IRAP support for innovative Canadian firms. To learn more about Canada’s Economic Action Plan, visit www.actionplan.gc.ca.