Ontario, Canada Leading World-Class Research on New Cancer Drugs

Government Invests In Groundbreaking R&D on Colorectal Cancer

TORONTO--(BUSINESS WIRE)--Jul 20, 2009 - Ontario is joining forces with Pfizer Inc. and leading Ontario research institutions to develop a new generation of drugs to fight colorectal cancer.

Pfizer Inc., the world's largest pharmaceutical company, is collaborating on a landmark $6-million oncology research project with the Ontario Institute for Cancer Research and the Ontario Cancer Institute. These research institutions are global leaders in genomics and cancer stem cell research aimed at finding a cure for cancer.

The province is investing $900,000 in this initiative through its Biopharmaceutical Investment Program, part of the government's Next Generation of Jobs Fund. Investing in research and innovation has been a cornerstone of Ontario's economic planning since 2003. Ontario's Innovation Agenda is a $3.2-billion strategy to make Ontario one of the best places in the world to turn new ideas into new businesses and jobs.

“Pfizer's decision to advance their R&D through collaboration with Ontario researchers is a testament to the strength of our talent and our global leadership in cancer research. New breakthroughs will continue to be made, and we want these people, these ideas, and these high-value jobs right here in Ontario,” said Minister of Research and Innovation John Milloy.

“Today's investment will continue to support Ontario researchers in their efforts to make new discoveries that will lead to increased quality of care for patients, and better lives for families that are dealing with cancer,” said Minister of Health and Long-Term Care David Caplan.

QUICK FACTS

 

  • Ontario is the largest hub of biomedical activity in Canada and the fourth largest biomedical research centre in North America with more than 25 globally recognized health research institutes.
  • Between 2005 and 2008, provincial investments in research and innovation leveraged $1.1 billion while helping to advance the knowledge, skills and training of close to 30,000 individuals.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6010738&lang=en

 

 

Contact: BlissPR
John C. Pappas, 212-840-1661
Senior Account Executive
pappas@blisspr.com
or
Ministry of Economic Development and Trade
Ray Lancashire, 416-326-1608
Media Relations, Invest Ontario
ray.lancashire@ontario.ca

 

 

Posted: July 2009


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