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Canadian Prime Minister Justin Trudeau announced Wednesday that he will provide $20 million through the Advanced Manufacturing Fund for the Commercialization Center for Regenerative Medicine to help it establish and operate a stem cell therapy research facility, the Advanced Therapeutic Cell Technology Center, in Toronto.
said it was the world's first stem cell therapy development facility in the form of research institutions and corporate partnerships. The new facility will be located at the MaRS Center in downtown Toronto, a medical research incubator in Ontario, Canada.
provincial government provided seed funding for the commercialization of regenerative medicine. The construction cost of the new stem cell research facility is expected to be $43.8 million, partly funded by GE Healthcare Group. Federal funds are used primarily to support the renovation of new facilities and the acquisition of specialized equipment to accelerate the development and application of stem cell therapy technologies.
federal government says that by the end of the program in December 2018, recipient agencies will have completed at least five new patent applications, commercialized 30 new products and processes, and created or maintained nearly 400 high-quality jobs. (Science and Technology Daily)
