Pharmaceutical firm Merck & Co is partnering Centre for Drug Research and Development, (CDRD) Canada’s national drug development institute, to form a C$1.5m ($1.2m) fund that will support CDRD projects.
Founded in 2007, the CDRD is a public-private technology incubator and accelerator that supports life science research. It is affiliated with more than 50 universities, six global pharmaceutical companies and 26 entrepreneurs or small and medium-sized enterprises.
Merck-CDRD Innovation Fund will invest in the advancement of CDRD collaborations with academic researchers which have high therapeutic potential. The partnership between Merck and CDRD has already provided almost $4m
Jennifer Chan, Merck Canada’s vice-president of policy and external affairs, said: “This collaborative partnership further illustrates that Merck is committed to contributing to Canada’s flourishing life sciences sector, which represents an enormous opportunity for economic growth and health innovation.
“We are committed to working collaboratively with governments, universities and other stakeholders to discover, develop and implement health solutions that improve patient outcomes in a manner that is consistent with the sustainability of our healthcare system.”