Pfizer Canada makes investment in developing therapeutic treatments

Pfizer Canada has announced a C$1.2 million (US$931,000) investment for the Neomed Institute in an effort to accelerate transforming scientific discoveries from Canadian universities into innovative therapeutic treatments.

Neomed is a Canadian not-for-profit research and development organisation that aims to accelerate the commercialisation of life science discoveries.

John Helou, president of Pfizer Canada, said the investment fits “perfectly” with the company’s strategy.

This involves “collaborating innovatively with university researchers, patient organisations, governments, other biopharmaceutical companies, healthcare professionals and other organisations such as Neomed which bridge the gap between basic research and commercialisation of new drugs”.

The investment will fund new development projects for drugs to cater to unmet medical needs over the next three years. In addition it will provide new therapeutic solutions.

Pfizer Canada said that its goal is to ensure all Canadians are able to access “best-in-class” treatments and quality healthcare.

Donald Olds, president and CEO of Neomed, explained that the investment marks the renewal of Pfizer Canada’s financial support. He said that it will allow the institute to bridge the gap between academic research and industry needs.

“It will also attract, create and facilitate a network of biotechs and contract research organisations to ensure sustained involvement of pharmaceutical companies in discovering new drugs.”

According to Canada’s minister of health and social services, Gaétan Barrette, the investment will help to strengthen the connection between private companies, universities and research centres to meet the needs of Canadian patients.

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