Pfizer Canada is committing $1 million to the Centre for Drug Research and Development (CDRD) to create the "Pfizer-CDRD Innovation Fund". This innovation fund aims to fast-track the commercialization of some of B.C.'s most promising academic research projects into high-value medicines that form the basis for new companies or licensing opportunities.
The "Pfizer-CDRD Innovation Fund" is a unique public-private partnership, and Pfizer is the first international research-based pharmaceutical company to establish an innovation fund at the CDRD to advance commercialization opportunities. Research grants will be allocated to unique scientific opportunities with promising commercialization potential in any of the following areas: cancer research, central nervous system related diseases, inflammation and pain, cardiovascular and metabolic diseases, as well areas of excellence supported by the CDRD (such as nanomedicines, imaging, biomarkers, therapeutic peptides).
"Pfizer Canada believes in the strong research capacity in British Columbia and hopes that this innovation fund will further position the province as an international hub for research and development in the life sciences, " says Paul Lévesque, President and CEO of Pfizer Canada. "Pfizer has a tremendous interest in biotechnology, and our partnership with the CDRD could contribute to supplementing the discovery pipeline, and delivering new therapies to the market."
An international caliber initiative led by founders with extensive academic research backgrounds and success in establishing key B.C. life sciences companies with strong commercial track-records, the CDRD comprises a network of over 250 researchers working in eight B.C. research institutions across the province. In 2007, CDRD secured over $50M in federal and provincial funding to kick-start operation and build facilities and labs with state-of-the-art equipment. CDRD's facilities, initially based at the University of British Columbia, will serve researchers and trainees at universities and affiliated institutions across B.C. CDRD has also implemented a new research and training model that will broaden the B.C. pool of life sciences entrepreneurs working on drug discovery and development.
"This research investment from international industry giant Pfizer reinforces the shared vision between government, industry and academia for our groundbreaking initiative. It also further validates CDRD's model to bridge the commercialization gap by facilitating and driving drug development projects and commercializing the technology either by creating companies or licensing to an existing company," said Natalie Dakers, Chief Executive Officer, CDRD.
Karimah Es Sabar, President of industry association LifeSciences British Columbia added, "The fact that CDRD has been able to attract this investment from one of the world's top pharmaceutical companies is a testament to both the level of world-class science coming out of our research institutions, and also to the tremendous value CDRD adds to the commercialization process. CDRD has clearly established itself as a leading research accelerator on a national and international scale, and will be a strong catalyst for the further development of our local industry."
About Pfizer Canada
Pfizer Canada Inc. is the Canadian operation of Pfizer Inc, the world's leading pharmaceutical company. Pfizer discovers, develops, manufactures and markets prescription medicines for humans and animals. Pfizer Inc invests more than US$7 billion annually in R&D to discover and develop innovative life-saving and life-enhancing medicines in a wide range of therapeutic areas, including arthritis, cardiovascular disease, endocrinology, HIV/AIDS, infectious disease, neurological disease, oncology, ophthalmology and smoking cessation. Pfizer Canada is one of the top investors in Canadian R&D, investing more than $190 million in 2005. Canadian headquarters of Pfizer Global Pharmaceuticals is in Kirkland, Quebec. As one of the top corporate charitable donors in Canada, Pfizer Canada is a proud member of Imagine Canada and its Caring Company program. In 2006, Pfizer Canada's Community Investment Program supported more than 1000 non-profit organizations and projects across the country with a total investment exceeding $20 million. For more information, visit www.pfizer.ca.
About the Centre for Drug Research and Development
CDRD is a unique hybrid organization that brings together researchers, institutions and industry to bridge the gap between primary research and the successful development of new medicines. CDRD combines an academic research infrastructure that enables B.C. researchers in universities and hospitals throughout the province to focus and amplify their drug discovery and development efforts, with a commercialization arm that drives drug development projects and brings the technology to market either by creating companies or licensing to an existing company. The CDRD network includes more than 250 life sciences researchers across the province. For more information, visit www.cdrd.ca
For more information please contact:
Sylvie Tessier
Pfizer Canada
1-514-247-9467
Catherine Ducharme
Centre for Drug Research and Development
604-637-6372 or cell (604) 813-6104
These press releases were issued in Canada and are intended as reference information for Canadians. The information contained in each press release was accurate at the time of issuance, and Pfizer Canada assumes no responsibility for updating the information to reflect subsequent developments.