LEO Pharma, Denmark’s oldest healthcare company, has launched its first innovation lab in North America.
The lab will be located in Markham and have $100 million backing it. LEO says the lab will develop new, non-pharmaceutical solutions for people living with psoriasis and partner with the startup community to foster innovation in apps, web platforms, wearables, virtual reality, artificial intelligence, tele-medicine and other advanced technologies.
“We know that psoriasis affects many aspects of daily life beyond ones that can be treated with medication,” said Miron Derchansky, Head of LEO’s Innovation Lab in Toronto. “LEO Pharma has been developing pharmaceutical products since 1908, and now we’re turning to the digital space and the startup community to help us hack new and creative solutions to help people better manage and deal with their condition.”
Through its newly announced LEO Ventures initiative, LEO Innovation Lab is also prepared to invest in and give grants to startups to help contribute to finding and developing solutions. The LEO Innovation Lab itself has been established with non profit requirements and is part of a long-term strategic decision by LEO Pharma.