Navigation Links
NEOMED Receives $12 Million from Federal Government

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:

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

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:
(Date:11/24/2015)... N.C. , Nov. 24, 2015  Clintrax Global, Inc., a ... North Carolina , today announced that the company has set ... represented a 391% quarter on quarter growth posted for Q3 of ... and Mexico , with the establishment ... in December 2015. --> United Kingdom ...
(Date:11/24/2015)... ... November 24, 2015 , ... The Academy of Model ... Group (SIG), MultiGP, also known as Multirotor Grand Prix, to represent the First–Person View ... years. Many AMA members have embraced this type of racing and several new model ...
(Date:11/24/2015)... Ltd. (OTCQB: TIKRF) today announced that its Annual General Meeting of Shareholders ... Israel time, at the law offices of Goldfarb Seligman ... Floor, Tel Aviv, Israel . ... to the Board of Directors; , election of Liat ... an amendment to certain terms of options granted to our Chief Executive ...
(Date:11/24/2015)... ... 2015 , ... In harsh industrial processes, the safety of ... can represent a weak spot where leaking process media is a possible hazard. ... , which are designed to tolerate extreme process conditions. They combine rugged design ...
Breaking Biology Technology:
(Date:10/27/2015)... 27, 2015 In the present market scenario, ... for various industry verticals such as banking, healthcare, defense, ... growing demand for secure & simplified access control and ... as hacking of bank accounts, misuse of users, , ... as PC,s, laptops, and smartphones are expected to provide ...
(Date:10/27/2015)... SAN JOSE, Calif. , Oct. 27, 2015 /PRNewswire/ ... human interface solutions, today announced that Google has adopted ... family of touch controller solutions to power its newest ... Nexus 6P by Huawei. --> ... ecosystem partners like Google to provide strategic collaboration in ...
(Date:10/26/2015)... PALO ALTO, Calif. and LAS ... – Nok Nok Labs , an innovator in ... FIDO Alliance , today announced the launch of its ... the first unified platform enabling organizations to use standards-based ... authentication. The Nok Nok S3 Authentication Suite is ideal ...
Breaking Biology News(10 mins):