TD Bank Financial Group has donated $250,000 to the London, Ont.-based Robarts Research Institute. It’s the first time the bank has sponsored a business development program at a Canadian research institute.

The presentation was made Wednesday at a ceremony in London, Ont.

The gift will go towards boosting technology transfer from the lab to the marketplace as well as providing a boost for London’s emerging biotech industry. The donation will contribute to five years of salary for an additional business development associate, a graduate with advanced scientific training responsible for managing intellectual property
from patent disclosure and licensing to assisting with contract negotiations and spin-off venture formation.

“Robarts’ approach to scientific business development is a model in Canada, and is critical in helping to attract and retain top scientists here at home,” said Fred Tomczyk, TD’s vice chair corporate operations, who is also a member of Robarts’ board of directors. “By fostering innovation, Robarts is enhancing Canada’s knowledge base and, in turn, our standard of living.”

Robarts is Canada’s leading independent medical research institute, with a staff of more than 500, including 43 principal investigators. It has negotiated several key licences of proprietary technologies and spun off seven new biomedical companies in the past four years that have raised more than $26 million in venture capital.