Regenerative Medicine
The Canadian government has announced a funding kick start for the new Centre for Commercialization of Regenerative Medicine to help establish a stem-cell therapy development facility. The new center aims to accelerate the development and adoption of cell manufacturing biotechnologies.
The newly-elected government in Canada has announced they will provide $20 million start-up capital for the Centre for Commercialization of Regenerative Medicine (CCRM) to help
establish a stem-cell therapy development facility in Toronto.
The Centre for Advanced Therapeutic Cell Technologies will be the first such facility in the world to use a collaborative approach between research institutions and industry to solve cell therapy manufacturing challenges, according to the government.
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"Regenerative medicine is the future and not only is it the future, it's a branch of medicine that Canada and the province of Ontario are actually quite good at."
"Regenerative medicine is the future and not only is it the future, it's a branch of medicine that Canada and the province of Ontario are actually quite good at," said Prime Minister Justin Trudeau. "The medical advances and innovations happening right here in Toronto are world class."Trudeau made the announcement this morning on an empty floor of the MaRS tower in downtown Toronto, designed for medical and research labs, where the stem cell facility will be located.
The stem cell facility is government funded by some money is also coming from GE Healthcare. The federal money will be provided once certain terms and conditions are met, the government said.
That money will be used to "support improvements to the new facility and the purchase of specialized equipment."
CCRM president Michael May said Canada is leading the charge as the industry moves toward mass production of stem cells and cell-based products.
“The industry and the science has evolved, and we’ve been leading for 60 years, the science of regenerative medicine and stem cells, it’s now time to lead the industrialization and commercialization,” May told CTV’s Canada AM.
The global market for cell-based therapies is expected to surpass the $20 billion USD mark by 2025, with an annual growth rate of 21%. The main targets for cell-based therapies are high impact disease areas with significant unmet need, including cancer, heart disease, neurodegenerative diseases, musculoskeletal disorder and autoimmune diseases.
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