Canada’s national drug development and commercialization centre, along with biopharmaceutical company Merck Canada Inc. announced the creation of a $1.5 million fund aimed at advancing the high-potential therapeutic projects.
The new Merck- Centre for Drug Research and Development (CDRD) Innovation Fund builds on the long-standing partnership between the two organizations. Merck and the CDRD have previously dedication of more than $5 million towards advancing the cutting-edge science of their academic partners. The assistance includes Merck’s support of the NeuroCDRD platform at the Montreal Neurological Institute and Hospital at McGill University (MNI).
The CDRD bridges the commercialization gaps to translate early-stage discoveries and technologies into new health innovations. The organization provides specialized expertise and infrastructure to identify, validate and advance promising discoveries, and transform them into commercially viable investment opportunities for the private sector.
The announcement of this latest initiative was made Friday as the country’s scientific community gathered in Ottawa to engage in a national dialogue on science, technology and innovation at the annual Canadian Science Policy Conference.
“The Merck-CDRD Innovation fund is another example of the strong partnership my colleagues have built over many years with our global industry partners, and the critical part they play in the success of not only CDRD, but of Canada’s health sciences sector,” said Gordon McCauley, president, and CEO of CDRD. “It also speaks to the spirit of collaboration that exists in Canada. By working together, we can all be catalysts for Canadian life sciences leading the world.”
Jennifer Chan, vice-president, policy and external affairs, at Merck Canada, said the fund illustrates how the company continues to contribute to the growth of the country’s life science sector.
“We are committed to working collaboratively with governments, universities and other stakeholders to discover, develop and implement health solutions that improve patient outcomes in a manner that is consistent with the sustainability of our healthcare system,” she said.
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