TORONTO, ONTARIO--(Marketwired - July 30, 2015) -
Editors Note: There is a photo associated with this press release.
The Centre for Commercialization of Regenerative Medicine (CCRM) is pleased to support a new medical research program at the University of Toronto, announced this week, by the Government of Canada. CCRM will be the commercialization partner for regenerative medicine technologies developed under "Medicine by Design," a $114 million federal investment that is part of the government's Canada First Research Excellence Fund, which supports world-leading research at Canada's universities and colleges.
"I am delighted that the federal government is making this significant investment into regenerative medicine to keep Canada at the forefront of this developing field, expected to grow to $50 billion by 2019," says Michael May, President and CEO, Centre for Commercialization of Regenerative Medicine. "Medicine by Design will propel Canada to a leadership position in the global medical industry and CCRM is excited to help Canada deliver on that promise."
Peter Zandstra, Chief Scientific Officer of CCRM, Canada Research Chair in Stem Cell Bio-engineering and a key architect of the Medicine by Design initiative, is looking forward to the outcomes that will result from this funding: "We anticipate making Canada a magnet for investment and innovation in regenerative medicine, leading to a robust biotechnology sector that takes full advantage of the leadership, research capability and advanced manufacturing that exists here."
The Medicine by Design initiative will establish a leading centre in regenerative medicine at the University of Toronto. Researchers at the centre will focus on discovering new therapies based on the design and manufacture of molecules, cells, tissues and organs that can be used safely and effectively to treat degenerative diseases. CCRM focuses on technology development, company creation and clinical translation to bridge the commercialization gap and accelerate the therapeutic potential of regenerative medicine technologies and cell-based therapies.
In June 2015, CCRM launched its first spin-off - ExCellThera - a clinical stage biotechnology company that is focused on developing robust and cost effective ways of growing blood stem cells for therapeutic use.
About the Centre for Commercialization of Regenerative Medicine (CCRM)
CCRM, a Canadian not-for-profit organization funded by the Government of Canada's Networks of Centres of Excellence program and academic partners, supports the development of technologies that accelerate the commercialization of stem cell- and biomaterials-based technologies and therapies. A network of academics, industry and entrepreneurs, CCRM aims to translate scientific discoveries into marketable products for patients with specialized team funding and infrastructure. CCRM launched in Toronto's Discovery District on June 14, 2011 and is hosted by the University of Toronto.
CCRM sources and conducts diligence on intellectual property from around the globe, performing fee-for-service and development projects with academia and industry in the areas of cell reprogramming and engineering, cell manufacturing and biomaterials. CCRM has a fully resourced, 6,000 square foot development facility used to advance technologies for out-licensing or company creation.
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Contact Information:
Stacey Johnson
Director, Communications
647-309-1830
Stacey.johnson@ccrm.ca
www.ccrm.ca
