The B.C. government announced June 19 that it would provide $39 million to fund two life science initiatives.
"$29 million will be invested in the Centre for Drug Research and Development (CDRD) to make a difference to British Columbians and beyond as development in drug therapies can have worldwide benefits," Health Minister Michael de Jong said in a release. "$10 million will go toward Genome British Columbia (GBC) to support cutting-edge genomics research right here at home."
The announcement came as De Jong was in Boston at the BIO International Convention, which attracts representatives from more than 15,000 biotechnology and life sciences companies and academic institutions.
Victoria had previously committed $25 million toward the CDRD. The new funding will be spent through the next five years as the centre develops and brings new drug therapies to the market.
GBC's funding will be directed specifically to health-related research projects.
The B.C. government had previously provided $177.5 million to GBC since 2001
"Research is crucial in making health advances and moving health care forward, said GBC's CEO Alan Winter. "This funding will make a major impact."
