IRICoR

What IRICoR does

IRICoR is a non-profit Centre of Excellence in Commercialization and Research (CECR) founded in 2008 at the Institute for Research in Immunology and Cancer (IRIC) of the Université de Montréal. The organization accelerates the translation of academic drug discovery into commercial therapies, focused on oncology, immunotherapy, and rare diseases. It operates as a research-to-therapy accelerator, providing funding, scientific and business support, intellectual property management, and business development expertise to academic researchers, with the objective of bridging the "valley of death" between basic research and clinical development.

IRICoR's core technological assets include proprietary drug discovery platforms housed at IRIC: BRET (Bioluminescence Resonance Energy Transfer) biosensors, DNA Encoded Library (DEL) technology, multiplexed biosensor technology, and the bioSens-All GPCR drug discovery platform licensed from Université de Montréal to Domain Therapeutics. The portfolio has produced 326 granted patents and currently has five drug candidates in clinical trials, including Zemcelpro (dorocubicel, UM171 cell therapy), BMS-986141 and BMS-986120 (PAR4 antagonists from the BMS collaboration), a RAF inhibitor, and a tumor-specific antigen program with Medigene. The portfolio also includes four spin-off companies: ExCellThera (jointly controlled, stem cell expansion), Epitopea (transatlantic cancer immunotherapeutics, $45M+ raised), RejuvenRx (cancer and aging), and Drave Therapeutics (GPCR precision medicines, 2024).

The business model combines non-dilutive funding from federal (CECR Program, ~$40M) and provincial (MEIE, ~$4.1M) grants, non-dilutive research grants ($69M), R&D collaboration revenue ($107M cumulative since founding), and potential licensing revenue ($2.2B in disclosed deal value with upfronts, milestones, and royalties to partners including Ipsen, Bristol-Myers Squibb, ONO Pharmaceutical, Domain Therapeutics, and Medigene). Spin-off equity stakes provide additional upside. IRICoR is governed by a board of life-sciences leaders and led by President and CEO Elizabeth Douville (appointed February 2023). Operations are run by a small team (1-10 employees) of multidisciplinary professionals combining over 50 years of project management, drug development, IP, business development, and venture capital experience.

Name

IRICoR

Legal name

IRICoR

Website

https://www.iricor.ca

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

1–10 employees

Short description

IRICoR is a non-profit Centre of Excellence that commercializes academic drug discovery from IRIC/Université de Montréal into oncology, immunotherapy, and rare disease therapies through pharma licensing, R&D collaborations, and biotech spin-offs.

Ownership category

akta.pro rank

Product category

Drug Discovery Commercialization

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714), Other Scientific and Technical Consulting Services (541690)

SIC

Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Impurity / Reference Standard Synthesis & Characterization (HLAGAHAG)

Keywords

• Drug discovery commercialization
• Academic research partnerships
• Biopharmaceutical licensing
• Therapeutic development
• Life sciences accelerator

Headquarters

HQ city

Montréal

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Licensing Revenue: IRICoR generates potential licensing revenue through agreements with pharmaceutical partners for commercialization of discovered therapies. Includes upfront payments, milestone payments, and royalties on net sales.
2. R&D Collaboration Revenue: Revenue from collaboration focused on R&D of new therapies with industry partners, totaling $107M in R&D collaboration revenue.
3. Federal and Provincial Grants: Government funding including $40M in federal grants (CECR Program of NCE) and $4.1M in provincial grants (MEIE) for supporting drug discovery projects.
4. Non-Dilutive Research Grants: Non-dilutive research grants totaling $69M for supporting academic drug discovery research.
5. Spin-off Investment Returns: Strategic investments in spin-off companies (ExcellThera, Epitopea, RejuvenRx, Drave Therapeutics) that generate returns through equity appreciation and future licensing opportunities.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

IRICoR is a non-profit Centre of Excellence in Commercialization and Research that identifies, funds and develops early-stage drug-discovery projects originating primarily from the Université de Montréal's Institute for Research in Immunology and Cancer (IRIC). It commercializes these projects by licensing drug candidates and proprietary drug-discovery platforms to biopharmaceutical partners and by creating spin-off companies. Its portfolio spans small-molecule therapeutics, cell therapies and antibody-based agents developed using proprietary platforms such as BRET biosensors, DNA-Encoded Libraries, Multiplexed Biosensors and bioSens-All.

Product overview

IRICoR is a Centre of Excellence in Commercialization and Research (CECR) that accelerates discovery, development and commercialization of innovative therapies in oncology, immunotherapy and rare diseases. The organization operates as a research-to-therapy accelerator, providing funding, scientific expertise, IP management and business development support to academic researchers at Université de Montréal. IRICoR's portfolio includes multiple clinical-stage drug candidates (PAR4 antagonists, UM171 cell therapy), three drug discovery technology platforms (BRET Biosensors, DNA Encoded Library, Multiplexed Biosensors), and has spun out four biotechnology companies (ExCellThera, Epitopea, RejuvenRx, Drave Therapeutics) that have collectively raised over USD $45 million in financing. The organization bridges academic research with biopharmaceutical industry partnerships, having secured over $2.2 billion in potential licensing revenue from deals with partners including Ipsen, Bristol-Myers Squibb, and ONO Pharmaceutical.

Differentiator

Problem solved

Functional benefit

Brands

• Zemcelpro: Cell therapy product (dorocubicel) using UM-171 molecule for cell expansion in blood cancer treatment
• ExCellThera
• Epitopea
• RejuvenRx
• Drave Therapeutics

Products and services

• Zemcelpro (dorocubicel)

Quantifiable outcome

• $2.2B in potential licensing revenue generated from partnerships
• +4 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered flagship and core.

• IpsenflagshipStrategic or Co-development Partner · 15 February 2023Long-term strategic partnership with Ipsen for oncology drug discovery. Includes exclusive license agreement for pre-clinical stage oncology program and multi-year collaboration for two discovery-stage programs. Partnership expanded in December 2025 to accelerate early-stage oncology innovations. Ipsen provides upfront payments, research funding, milestone payments and royalties.
• ONO PharmaceuticalcoreStrategic or Co-development Partner · 19 April 2022Collaboration with Domain Therapeutics and Université de Montréal for discovery of new small molecules targeting GPCRs in treatment of metabolic disease. ONO receives access to bioSens-All technology platform. Includes upfront license payment, research funding, milestone payments and royalties.
• Bristol-Myers SquibbcoreStrategic or Co-development Partner · 1 May 2020Collaboration on PAR4 anti-thrombotic drug discovery through IRIC's Drug Discovery Unit. Contributed to discovery of two anti-thrombotic drugs currently in clinical evaluation (BMS-986141, BMS-986120).
• ExCellTheraflagshipStrategic or Co-development PartnerSpin-off company with exclusive license to UM171 molecule for stem cell expansion therapy. ExcellThera has successfully advanced UM171 through Phase 2 trials in acute leukemia and received EC authorization for Zemcelpro in August 2025. Phase 3 trial planned for 2025.
• EpitopeacoreStrategic or Co-development PartnerTransatlantic cancer immunotherapeutics company (Montreal, Canada and Cambridge, UK) developing off-the-shelf RNA-based immunotherapies targeting Cryptigen TSAs. IRICoR is an investor along with Advent Life Sciences, CTI Life Sciences, Cambridge Innovation Capital, and others. Company has raised over USD $45 million.
• RejuvenRxcoreStrategic or Co-development PartnerSpin-off from ExcellThera developing precision therapies for cancer and aging. IRICoR is a co-founder and strategic investor. Company developing small molecules promoting tissue regenerative capacity. Integrated into adMare Accelerator in 2024.
• Drave TherapeuticscoreStrategic or Co-development PartnerSpin-off company created in 2024 dedicated to development of precision medicines targeting GPCRs. Leverages proprietary technology platform to design specific and effective treatments for improved patient quality of life.
• MedigenecoreTechnology or IntegrationCollaboration for identification of ten novel tumor-specific antigens (TSAs) immunogenic for T cells. Medigene provided high-throughput screening technology access; IRICoR and IRIC identified TSA candidates. Platform for development of TCR-based immunotherapies.
• Domain TherapeuticscoreStrategic or Co-development PartnerLong-time partner with access to bioSens-All GPCR drug discovery platform licensed from Université de Montréal. Collaboration partner in ONO Pharmaceutical agreement.
• Université de Montréal / IRICflagshipStrategic or Co-development PartnerFounding partner institution. IRICoR is based at IRIC and provides privileged access to research infrastructure and expertise. Source of all portfolio projects.
• adMare BioInnovationscoreStrategic or Co-development PartnerCanadian life sciences accelerator. Partner in hosting and supporting spin-off companies including RejuvenRx integration into adMare Accelerator.

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Others

• CPRIT (Cancer Prevention and Research Institute of Texas): State-funded cancer research and commercialization organization awarding grants and supporting Texas-based oncology discovery and translation. Comparable funder/commercialization role in the cancer research ecosystem, though structured as a public grant-making body.
• Atlas Venture: Venture capital firm that builds biotech companies from academic science (venture creation model). While for-profit and capital-led rather than non-profit, Atlas applies a parallel 'company genesis from academic IP' approach to IRICoR's spin-off model.

Direct peers

• MaRS Discovery District: Canadian innovation hub supporting commercialization of science and technology, including a strong health portfolio. Operates a comparable model of supporting academic spin-outs and connecting them with industry and capital partners.
• adMare BioInnovations: Canadian non-profit life sciences accelerator focused on building biotech companies from academic research and commercializing health innovations. Direct mission overlap with IRICoR; already a partner organization that has hosted IRICoR's RejuvenRx spin-off.
• Apollo Therapeutics: UK-based venture builder that translates academic research from top universities into clinical-stage biotech companies, with pharma partnership backing from AstraZeneca, GSK, and Johnson & Johnson. Closely mirrors IRICoR's pharma-funded academic-to-company pipeline.
• CQDM (Quebec Consortium for Drug Discovery): Quebec-based biopharma research consortium funding drug discovery collaborations between academia and industry. Shares IRICoR's mandate to bridge early-stage academic research with pharma commercialization and is a listed partner of IRICoR.
• Harrington Discovery Institute: US academic-affiliated non-profit that supports physician-scientists in advancing discoveries from lab to clinical proof-of-concept and spin-out formation. Comparable bridge model with focus on therapeutics development.
• BioGenerator: US-based life sciences startup generator that creates and funds new companies from academic and commercial life sciences research. Operates a closely analogous model to IRICoR's spin-off creation function in St. Louis.

Regional players

• Ontario Institute for Cancer Research (OICR): Provincial cancer research and commercialization organization in Ontario with translational programs aimed at moving discoveries from Ontario labs into clinical and commercial use. Comparable mandate to IRICoR but operating in Ontario rather than Quebec.

Broad incumbents

• BridgeBio Pharma: Commercial-stage rare disease company built around academic-derived assets. Comparable end-state for IRICoR's commercialization model — shows how academic-originated assets can scale into a multi-asset commercial pharma — but operates at much greater scale and as a public company.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/iricor
• Xx.com/iricor_

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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M&A

Investments1 record

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Frequently asked questions about IRICoR