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

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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
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