GlaxoSmithKline launches a new national $50 Million Life Sciences Innovation Fund

OTTAWA, Nov. 10, 2011 /CNW/ - Rx&D President Russell Williams applauds GlaxoSmithKline Inc.'s launch of the new $50 Million GSK Canada Life Sciences Innovation Fund.

"Today's launch of GlaxoSmithKline's new national life sciences innovation fund will significantly help advance the commercialization of scientific innovation and identify strategic investment opportunities within Canada's life sciences industry, including academic and health institutions, translational research centres and start-up companies."

"This new national fund will invest in early stage, breakthrough research - expanding opportunities for innovation and the creation of high-value jobs here in Canada.  Canadian researchers, academics and organizations focused on high-potential research now have a unique opportunity to help close Canada's innovation gap."

"By working together, we can secure Canada's position as a world leader in developing and delivering new health care solutions to people across Canada and throughout the world. Creating a more favourable environment for investment, by improving Canada's intellectual property and access regimes, would help secure additional life sciences investments in Canada by the innovative pharmaceutical sector. These investments are good for all of Canada, and good for Canadians."

About Rx&D

Rx&D is the association of leading research-based pharmaceutical companies dedicated to improving the health of Canadians through the discovery and development of new medicines and vaccines. Our community represents 15,000 men and women working for 50 member companies and invests more than $1 billion in research and development each year to fuel Canada's knowledge-based economy. Guided by our Code of Ethical Practices, our membership is committed to working in partnership with governments, healthcare professionals and stakeholders in a highly ethical manner.

SOURCE CANADA'S RESEARCH-BASED PHARMACEUTICAL COMPANIES (RX

For further information:

Christine Choury
Media Relations
Telephone: 613.236.0455
E-mail: cchoury@canadapharma.org

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CANADA'S RESEARCH-BASED PHARMACEUTICAL COMPANIES (RX&D)

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