Ilse Treurnicht, PhD, Chairperson

Ilse Treurnicht is the CEO of MaRS Discovery District (MaRS) and has been a member of Triphase’s Board of Directors since 2010.

MaRS is a leading innovation centre located in Toronto. She oversees both the development and operations of the MaRS Centre and its broad suite of entrepreneurship and innovation programs. Ilse joined MaRS in early 2005 from her role as President & CEO of Primaxis Technology Ventures, a startup-stage venture capital fund focused on the advanced technologies sector. Prior to Primaxis, Ilse was an entrepreneur with senior management roles in a number of emerging technology companies. Ilse holds a DPhil in chemistry from Oxford University, which she attended as a Rhodes scholar.  Ilse has been recognized with Canada’s Most Powerful Women Top 100 award presented by the Women’s Executive Network three times and was named to the Women’s Executive Network’s Hall of Fame in 2013.


Jeff Courtney, BSc, Director

Mr. Jeff Courtney is the President of Fight Against Cancer Innovation Trust (FACIT) and has been a member of Triphase’s Board of Directors since 2016. FACIT is an independent business trust established by the Ontario Institute for Cancer Research (OICR) to undertake development and commercialization activities related to cancer research, products and drug discovery.

Mr. Courtney has extensive experience in venture capital, business development and strategic planning.  Prior to joining FACIT, Mr. Courtney was Managing Director of Verde Ventures, a management consulting firm specializing in providing financial and strategic advice to companies in the life sciences, health care and technology. Mr. Courtney is Co-founder and CEO of Sempra Therapeutics, a dermatology startup company.  As General Partner at VG Partners, Mr. Courtney was part of the leadership team that oversaw the $250M Advanced Life Sciences Fund. Mr. Courtney also was a partner at CDP Sofinov, President of Faulding Canada Inc., Executive Vice-President of Pharmascience Inc. and held various senior positions with Johnson & Johnson. Mr. Courtney has served on numerous boards of directors for public and private enterprises in the biomedical industry and is currently a director on the boards of the Ontario Preclinical Imaging Consortium, Centre for Imaging Technology Commercialization, DLVR Therapeutics, XLV Diagnostics and Turnstone Biologics. He is a member of the Investment Committee of the MaRS Discovery District’s Investment Accelerator Fund.  Mr. Courtney holds a BSc in microbiology from the University of Guelph.


Raphael (Rafi) Hofstein, PhD, Director

Dr. Hofstein is the President of MaRS Innovation (MI) and has been a member of Triphase’s Board of Directors since 2010. MI is a non-profit organization that acts on behalf of its members–15 of Toronto’s top universities, institutions and research institutes, plus the MaRS Discovery District–to bring their most promising research breakthroughs to market.

Dr. Hofstein received his PhD and Master of Science degrees in Life Sciences and Chemistry from the Weizmann Institute of Science in Rehovot, Israel. His Bachelor of Science degree in Chemistry and Physics was attained from the Hebrew University in Jerusalem. Awards received while completing postdoctoral training and research at the Harvard Medical School in Boston in the Departments of Biological Chemistry and Neurobiology include the Hereditary Disease Foundation Fellowship in 1982-83, and the Chaim Weizmann Postdoctoral Fellowship in 1980-82. During the 1980s, he held the roles of Scientific Director of Biotechnological Applications Ltd., and Manager R&D and Chief of Immunochemistry at the International Genetic Scientific Partnership; organizations that were pivotal in the development of Israel’s world-leading biotechnology sector. Dr. Hofstein was Scientific Director of the Israeli office of Ecogen Inc., a subsidiary of Monsanto, for over six years before assuming the role of Vice President, Business Development for Ecogen in Langhorne, Pa. From 1997 to 1999 Dr. Hofstein was President of Mindsense Biosystems Ltd., an Israeli company that develops neuropsychiatric immune assays. From 1999 to the present, he has held the position of President and CEO of Hadasit Ltd., the technology transfer company of the Hadassah Medical Organization in Jerusalem. Later on, Dr. Hofstein joined Medica Ventures, a lead VC in Israel and served for 10 years as the President and CEO of Hadasit, the commercialization company of Hadassah, the largest teaching hospital in Israel. Dr. Hofstein was the founder and served as Chair of Hadasit BioHolding Ltd., a publicly traded holding company (10 startups under management) on the Tel Aviv Stock Exchange (TASE), since 2005. Other directorships held on TASE publicly traded companies include: Bioline RX (drug development); Exalenz (medical devices); and Evogene (agri-bio). He has also served as Chairman of BIOMED, Israel’s annual biomedical conference, from 2005 to 2007. In addition, Dr. Hofstein is a co-founder and board member of ILSI, the Israeli Life Science Industry Organization, and a co-founder and executive in Israel’s Tech Transfer Network (ITTN). Dr. Hofstein is currently member of the board of directors of Life Science Ontario and of Clinical Trials Ontario as well as a member of the Organizing Committee of the Public Policy Forum (part of the Quebec City Conference).


Grant Gibson, CPA, CBV, Chief Financial and Administrative Officer

Grant Gibson is an experienced finance executive with over 20 years of progressive global experience focused on the biotech, pharma and life science industries.  Grant has overall responsibility for all areas of finance and the day-to-day operations of Triphase, including strategic financial planning, audit & accounting, tax, and treasury as well as human resources.

Most recently, Grant was the CFO of Clearstone Central Laboratories – a private global central laboratory business spun-out from MDS Inc. Before joining Clearstone, Grant held senior finance positions with MDS Inc. – a large Canadian public CRO business, and Elan Pharmaceuticals – a global public pharmaceutical company focused on neurodegenerative and autoimmune diseases.  Prior to entering industry, Grant was a valuation expert for Deloitte & Touche in San Francisco, providing valuation consulting services to many leading global pharma/biotech and technology companies. Grant began his career with Ernst & Young and held various positions of increasing responsibility in the firm’s Corporate Finance and Audit & Assurance practice areas in both Canada and the United States. Grant obtained his Honors Business Administration (HBA) degree from the Richard Ivey School of Business at the University of Western Ontario and is a Chartered Professional Accountant (CPA) and Chartered Business Valuator (CBV).