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Canadian drug commercialization group IRICoR lands $25M in federal funding

By Jesse Schwartz
Published: August 1st, 2018

The Institute for Research in Immunology and Cancer-Commercialization of Research (IRICoR), a Canadian drug discovery and commercialization group, has secured $25 million in federal funding as part of the government’s Centres of Excellence for Commercialization and Research (CECR) program.

The funding will support IRICoR in its efforts to develop and commercialize research while forming partnerships throughout the academic, pharmaceutical and business sectors across Canada.

“We are delighted about this tangible show of confidence in our winning model from the federal government,” says Nadine Beauger, president and CEO of IRICoR. “The CECR program was responsible for our creation in 2008 and is now returning in full force to provide backing for our drug discovery project support initiatives all across Canada.”

Since its inception, IRICoR has launched three companies, generated 60 patent families, formed 24 strategic partnerships with industry and led more than 80 project financings. The group is also currently supporting seven clinical trials.

“I’m proud to support the efforts of IRICoR, a key player in drug discovery,” says Martin Godbout, board chair of IRICoR. “Like Sherpa guides who lead mountain climbers to the peak, its team provides a guidance plan that turns research into therapeutic solutions. Support from the CECR strengthens IRICoR’s efforts and marks a turning point for its 10th anniversary.”

Source: Markets Insider

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