Stryker completes acquisition of SRI spin-off company MOLLI Surgical
Stryker, a global leader in medical technologies, has announced that it has completed the acquisition of MOLLI Surgical Inc., a Sunnybrook Research Institute (SRI) spin-off company specializing in the development of wire-free soft tissue localization technology for breast conserving surgery.
The technology was first developed at Sunnybrook by breast cancer surgeon Dr. Nicole Look Hong, and former Sunnybrook employees Dr. Ananth Ravi and John Dillon, before being commercialized by spin-off company MOLLI Surgical. In 2022, the technology was named one of TIME Magazine’s Best Inventions of 2022.
“This is an opportunity that highlights Canada’s strength in the research and development of medical technologies,” says Dr. Kullervo Hynynen, Vice President of Research and Innovation at Sunnybrook. “It is an important step in ensuring innovative solutions and technology for breast cancer care reach and benefit more patients globally.”
One of SRI’s primary priorities is the commercialization of its research to improve the spread and scale of health-care innovations, working with partners in public and private sectors to bring its discoveries to patients through the medical marketplace. SRI currently has 23 spin-off companies, taking ideas from bench to bedside and providing innovative solutions to enhance patient care in Canada and around the world.
“This acquisition holds incredible significance for advancing our medical technology and commercialization ecosystem,” explains Raphael Ronen, Director of Business Development at SRI. “We are able to better advance health and patient care by translating these discoveries into devices that more surgeons and clinics can access and use.”
Throughout the commercialization process, Toronto Innovation Acceleration Partners (TIAP) provided intellectual property, regulatory, and business plan support through its Venture Builder Program.
For more information about Stryker and MOLLI Surgical, view the full press release.
