PHILADELPHIA--(BUSINESS WIRE)--Ontario is continuing to help facilitate new partnerships and research funding for the province’s life sciences sector.
Ontario is home to the largest life sciences industry in Canada and contributes to approximately 50 per cent of the country’s life sciences economic activity. Today, five new partnerships involving Ontario organizations totaling $7 million were announced at the BIO International Convention in Philadelphia, Pennsylvania:
- CQDM, a Quebec research consortium, is partnering with the Ontario Centres of Excellence to fund $1.5 million in five drug research projects through the Explore Program, a CQDM program designed to support unconventional and innovative research
- CQDM and MaRS Innovation announced close to $1 million in joint funding for Ontario’s Encycle Therapeutics to develop new treatments for inflammatory bowel disease and fibrosis
- The Université de Montréal, the University of Toronto and Ontario’s Centre for the Commercialization of Regenerative Medicine announced the creation of ExcellThera, a new company that will commercialize treatments for a number of blood-related diseases, including leukemia, myeloma and lymphoma
- Clinical Trials Ontario, an independent not-for-profit organization that aims to make Ontario the preferred location for global clinical trials, announced the successful use of a new Streamlined Research Ethics Review System by Glaxo-Smith Kline. Glaxo-Smith Kline will be the first global company to receive province-wide ethics approval for an international multi-centre clinical trial in Ontario, advancing the province’s position as a global leader in clinical trials
- Neuroscience Catalyst Consortium, a neuroscience research partnership between the University of Toronto and Janssen Inc., and facilitated by Johnson & Johnson Innovation, announced $4.5 million, including $1 million in funding from the Ontario Centres of Excellence, for new innovative neuroscience research
Facilitating new partnerships for innovative research supports a vibrant life sciences sector and is part of the government’s plan to build Ontario up. The four-part plan includes investing in people’s talents and skills, making the largest investment in public infrastructure in Ontario’s history, creating a dynamic, innovative environment where business thrives, and building a secure retirement savings plan.
“I am proud that Ontario has so many impressive home grown ventures to
showcase at BIO. Many of these ventures owe their success to
partnerships between universities, hospitals, research groups,
businesses, and government. That collaborative spirit makes Ontario
stand out in a highly competitive global economy.”
— Reza Moridi, Minister of Research and Innovation
- Learn more about the Ontario Research Fund
- Read about the Ontario Centres of Excellence
- 2015 BIO International Convention
Ontario, Canada’s business environment is designed for global success. Ontario is an efficient North American hub for international investment and trade. It offers direct access to the US$17+ trillion North American market; a multicultural workforce; streamlined regulations; a low-risk investment climate, competitive business costs, a great quality of life and more. World leading companies have invested billions to start or expand their operations in Ontario, from many sectors including automotive, aerospace, life sciences and biotech, ICT, water and wastewater technologies, financial services, mining and more. These companies are leveraging Ontario’s competitive advantages by developing breakthrough technologies, products and services for global markets. Major players with an Ontario presence include Honda, Magna, Sodexo, Alcatel-Lucent, AXA, DuPont, MDS, sanofi pasteur, GlaxoSmithKline, Teva, IBM, and Dell. Ontario has a population of over 13 million (the largest in Canada), generates 37 per cent of Canada’s GDP, and boasts an export-oriented GDP that is larger than that of Belgium, Switzerland or any of the Scandinavian countries.