Parimal Nathwani has left Toronto Innovation Acceleration Partners (TIAP), a life sciences commercialisation nonprofit, after six years as president and CEO, to join the Business Development Bank of Canada (BDC).
At BDC, he now serves as managing partner of the C$150 million Life Sciences Venture Fund, launched yesterday by the bank’s venture arm, BDC Capital.
The fund will invest in seed and series A companies, focusing on medtech and therapeutics products. It marks a return to direct life sciences investments for BDC Capital, which spun off its Healthcare Venture Fund as Amplitude Ventures in 2019.
“Canada has world‑class talent and a strong life sciences innovation base. But with a significant early‑stage funding gap, combined with long development cycles and demanding scientific validation, the needs are pressing.
“By supporting early‑stage companies in therapeutics and medical devices, we aim to turn Canadian research and intellectual property into globally competitive businesses that improve human health, create high‑quality jobs, generate economic impact and strengthen Canada’s innovation ecosystem.”
Parimal Nathwani
TIAP was founded in 2008 to commercialise research out of universities and research institutes in the city. Its partners include the University of Toronto, the Ontario Institute for Cancer Research, and hospitals like Sinai Health System and Unity Health Toronto.
Nathwani had worked for TIAP since 2008, when he joined as vice president of commercialisation. His earlier career stops included a two-year stint as tech transfer manager in the University of British Columbia’s Industry Liaison Office from 2004 to 2006.
He will remain with TIAP as a board director. Prakash Gowd, who has been with TIAP since December 2023, has been named interim CEO.
