Inward Investment

Merck funds Canadian life sciences research

PBR Staff Writer Published 24 April 2013

Merck Canada will provide $4m to the Institute for Research in Immunology and Cancer - Commercialization of Research (IRICoR) for future corridor projects, which are developed in association with two other Canadian Centres of Excellence for Commercialization and Research (CECRs) in Ontario and in British Columbia.

As part of the funding, IRICoR along with MaRS Innovation and the Centre for Drug Research and Development (CDRD) will identify, develop and commercialize technologies in healthcare.

Merck Canada president and managing director Thomas Cannell said that the funding corridor initiatives are part of the company's new approach to R&D.

"This is an important milestone for the company as it is broadening its scope to include important research centers that are part of the Quebec - Ontario and Quebec - British Columbia corridors," Cannell added.

The investment forms part of Merck's 2010 announcement to inject $100m over five years in biopharmaceutical research and development (R&D) in Quebec and brings the company's total contributions to date to approximately $65m.

In 2012, Merck announced a $13.5m investment to fund basic and translational research at four universities and hospital-affiliated Montréal research institutions.