The Government of Canada makes substantial investment of nearly $80-million

by • July 30, 2018 • Capital markets/Funding, Feature Slider, Feature-Home, Featured-Slides-Home, UncategorizedComments Off on The Government of Canada makes substantial investment of nearly $80-million527

Innovation is happening every day and broadening the horizons of science. The Canadian life sciences industry is burgeoning with new drug development, technologies, and therapies that will improve the lives and health of Canadians.  

To continue to support these solution-oriented clusters of scientists, entrepreneurs and innovators, the Government of Canada invests a substantial amount into five grants that totals just shy of $80-million. They will be delivered through the Centres of Excellence for Commercialization and Research Program at five hubs in Hamilton, Toronto, Montreal and St. John’s Newfoundland.

The Honourable Kirsty Duncan, Minister of Science and Sport made the announcement and went on to say: “Today we are investing in science for healthier communities. The five research centres awarded today mobilize Canada’s best research, development and entrepreneurial talent to transform new discoveries into concrete products, services and processes to improve our lives. By matching clusters of research expertise with business leaders, these centres will help unleash the potential of Canadian innovation.”

The announcement was made at McMaster University, where the Centre for Probe Development and Commercialization (CPDC) is located. The CPDC works with industry and academic partners to provide the expertise and infrastructure needed to develop and manufacture radiopharmaceuticals, a special type of drug that gives off energy and helps doctors diagnose diseases at an earlier stage. Based on their diagnosis, they can then choose the best therapy for individual patients with diseases such as heart disorders and cancer.

“On behalf of CPDC, I would like to thank the NCE-CECR program for their renewed and long-term support,” says Dr. John Valliant, founder, CPDC. “Along with funding from our longstanding partners at the Ontario Institute for Cancer Research, the support and unique vision of McMaster University, and partnerships with leading academic and industry organizations, the CPDC has been able to foster Canadian innovation and commercialization. This includes creating new companies, attracting foreign investments and delivering lifesaving diagnostic and therapeutic radiopharmaceuticals to patients locally, nationally and internationally. Our team will use the new funding to support the commercialization of new Canadian technologies and position Canada at the forefront of the rapidly growing therapeutic medical isotope and radiopharmaceutical sector.”

The distribution for the five Centres of Excellence for Commercialization and Research program is as follows:

“I would like to congratulate the successful applicants of the most recent CECR program competition,” says Jean Saint-Vil, associate vice-president, Networks of Centres of Excellence. “We are pleased to help these centres bridge the gap between innovation and commercialization to enable the sustainable development of natural resources in the North and create healthier communities in Canada. These connections, forged between clusters of research expertise and the business community, harness Canada’s best talent to provide industry-relevant technologies, products and services that will benefit us all.”

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