A new seed fund is being launched in B.C. and Alberta for early-stage life sciences firms.
Vancouver’s Centre for Drug Research and Development (CDRD), the provinces of B.C. and Alberta and Johnson &Johnson’s corporate office of science and technology (COSAT) are partners in the new fund, which scouts potential early-stage drug candidates for Johnson & Johnson.
The fund is being called the Western Canada Innovation Agreement for the time being.
A joint steering committee made up representatives from the partners will co-manage the fund. Representatives for the partners could not be reached for details about the fund's size.
“By developing an integrated, collaborative and strategic approach to research and innovation, we can further leverage the world-class research within Western Canada and CDRD’s drug development expertise in order to commercialize new medical technologies and therapeutics,” said Karimah Es Sabar, CDRD’s senior vice-president of business and strategic affairs, in a release.
Garry Neil, COSAT’s corporate vice-president said: “Collaborations like these are part of our strategy to establish our research presence around the globe.”