Navigation Links
NEOMED Receives $12 Million from Federal Government
Date:8/25/2014

MONTREAL, Aug. 25, 2014 /CNW Telbec/ - NEOMED, a not-for-profit organization whose mission is to create a bridge between academic research and the pharmaceutical industry, will receive $12 million in funding from the Government of Canada to help academic researchers turn their early discoveries into future medicines. This financing was attained thanks to the success of NEOMED's application to the highly competitive federal CECR program.

"Very early in the creation process of NEOMED, about two years ago, we set the objective to become a Centre of Excellence in Commercialization and Research because that is precisely what we do each day at NEOMED. This objective has been achieved and it is a major milestone in our history," rejoiced Dr. Max Fehlmann, President and CEO of NEOMED, adding, "The CECR program funding will not only provide us the money to increase the number of projects in the short and long term that can benefit from NEOMED's expertise in drug development, but it will also allow us to attract more financing from the private sector and through this leverage, sustain our operations. Our business plan is ambitious but realistic, and anticipates nearly thirty projects over five years' time that could be developed towards the stages of commercialization."

"Academia plays a key role in the identification of molecular targets on which drugs act. NEOMED offers industry expertise in the discovery and development of drugs, as well as a funding capacity and a centre (the NEOMED Institute) to transform academic discoveries into therapeutically beneficial innovations. As a non-profit organization, its aim is to establish commercialization agreements on advanced projects with development partners, and to reinvest the profits of these agreements into the public-private NEOMED fund," declared Philippe Walker, Chief Scientific Officer at NEOMED.

The creation of NEOMED in 2012 was made possible through major funding by the Government of Quebec and the key support of two pharmaceutical companies, namely AstraZeneca and Pfizer. The financing announced today by the federal government will allow NEOMED to achieve its business plan by supporting drug discovery work based on academic progress.

"Thanks to its structuring project, NEOMED helps maintain and create high-quality jobs in Quebec, and strengthens our expertise in drug development. The organization is a major player in our pharmaceutical industry and we are proud to support its achievements," declared Mr. Jacques Daoust, Minister of Economy, Innovation, and Exports.

The NEOMED business model is unique. Entirely dedicated to drug discovery and preclinical and clinical development, NEOMED is comprised of a team of researchers with solid industrial expertise. The team works in a virtual environment, using the services of academic laboratories and contract research organizations to conduct its research and development activities.

"I want to emphasize the fact that this is the result of outstanding work from the entire NEOMED team and I wish to extend the warmest of thanks to them for their continued efforts," concluded Dr. Fehlmann.

About NEOMED and the NEOMED Institute
NEOMED is a not-for-profit organization whose mission is to foster the development of promising therapeutic approaches from academia and biotechnology companies. NEOMED supports the development of projects up to the stage of human proof of concept. The organization is jointly funded by the pharmaceutical industry and the ministère de l'Économie, de l'Innovation et des Exportations du Québec (MEIE).

NEOMED is situated within the premises of the NEOMED Institute, a research and development centre at the cutting edge of technology, in Technoparc Montreal's Saint-Laurent Campus. The NEOMED Institute acts as an open-access drug discovery hub hosting commercial enterprises, providing a unique environment to foster innovation, collaboration, and creativity.
For more information: www.neomed.ca.

About the ministère de l'Économie, de l'Innovation et des Exportations du Québec
The ministère de l'Économie, de l'Innovation et des Exportations du Québec (MEIE) supports economic development, innovation, and exports by encouraging coordination and dialogue between actors involved in the fields of economics, science, society, and culture so as to promote job creation, economic prosperity, and sustainable development. To find out more about MEIE, visit www.economie.gouv.qc.ca.


'/>"/>
SOURCE NEOMED
Copyright©2014 PR Newswire.
All rights reserved

Related biology technology :

1. UT Arlington receives Walmart, Walmart Foundation innovation grant
2. Neumedicines Receives Award of $14 Million from BARDA for Continued Development of HemaMax™ as a Medical Countermeasure to Acute Radiation Exposure
3. Advanced Cell Diagnostics Receives ISO 13485:2003 Certification
4. Rebiotix Inc. Receives $25M for Series B Funding
5. Orexigen Receives CHMP Day 180 List of Outstanding Issues
6. UT Dallas professor receives Engineer of the Year award
7. Global Graphene Manufacturing Leader, Graphene Frontiers, Receives Series Seed B Funding To Assure Production Of The Next Generation Of Biological And Chemical Sensor Technology
8. Young Moscovite Researcher Receives this Years "Basel Declaration Award for Education in Animal Research"
9. ImQuest Pharmaceuticals Receives FDA Approval to Initiate Clinical Trials of a Vaginal Gel for the Prevention of HIV Transmission to Women
10. Worcester Polytechnic Institute Receives NIH Grant to Study Components of a Potentially Potent and Cost-Effective Malaria Treatment
11. RXi Pharmaceuticals Receives US Notice of Allowance for a Key Patent Relating to its Self-Delivering Technology with sd-rxRNAs targeting CTGF, including RXI-109, for the Treatment of Fibrotic Disorders
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/23/2017)... Colo. , March 23, 2017  GlobeImmune, Inc. ... agreement for the sale of 12,835,490 shares of its ... NantWorks  ecosystem of companies. In connection with the sale of ... $100,000 in cash and issue to GlobeImmune 200,000 shares, ... stock. "We are pleased to enter ...
(Date:3/23/2017)... NEW YORK , March 23, 2017 ... ... causes of death, putting significant strain on health care systems, ... of cancer diagnoses rises, so too does the development of ... with minimum side effects. Among the many types of cancer ...
(Date:3/23/2017)... ... March 23, 2017 , ... Advanced ... the hire of Dr. Sigmund “Sig” Floyd as Vice President ? Global Business ... joint development activities. , “Dr. Floyd’s career has spanned 30 years in the ...
(Date:3/22/2017)... , March 22, 2017  UBM and ... to announce their extended partnership and the third ... headlined by the 21 st Annual MassMEDIC ... taking place May 3-4, 2017. ... Technology Association (ADVAMED) President and CEO, Scott ...
Breaking Biology Technology:
(Date:3/20/2017)... ALLENTOWN, Pa. , March 20, 2017 ... PD 2.0 personal spirometer and Wellness Management System (WMS), ... Founded in 2010, PMD Healthcare is a ... Company with a mission dedicated to creating innovative solutions ... of life. With that intent focus, PMD developed the ...
(Date:3/7/2017)... Brandwatch , the leading social intelligence company, today announces that it ... insights to support its reporting, help direct future campaigns, and share ... charity will be using Brandwatch Analytics social listening and analytics technology ... the topics and issues that are a priority for its supporters. ... "Until recently we,ve ...
(Date:3/2/2017)... LONDON , March 2, 2017 Who ... infringement lawsuits? Download the full report: https://www.reportbuyer.com/product/4313699/ ... ON THE FINGERPRINT SENSOR FIELD? Fingerprint sensors using ... smartphones. The fingerprint sensor vendor Idex forecasts an increase ... in mobile devices and of the fingerprint sensor market ...
Breaking Biology News(10 mins):