Pfizer Increases Financial Support for BC-Based Innovation through the Centre for Drug Research and Development



    
    Pfizer reinforces relationship with the Centre for Drug Research and
    Development with a further $2M in funding
    

    VANCOUVER, Feb. 9 /CNW Telbec/ - Pfizer Canada has increased its initial
commitment of $1 million by an additional $2 million to the "Pfizer-CDRD
Innovation Fund" at the Centre for Drug Research and Development (CDRD) to
fast-track the commercialization of some of B.C.'s most promising research.
The Innovation Fund, now totaling $3 million, is already supporting six unique
scientific opportunities with promising commercialization potential in the
area of cancer and diabetic ulcer healing.
    The Pfizer-CDRD Innovation Fund, launched last year, represents a unique
public-private partnership and Pfizer is the first international
research-based pharmaceutical company to establish an innovation fund at the
CDRD. The Fund's purpose is to advance commercialization opportunities that
could result in high-value medicines to create new companies or licensing
opportunities.
    "In these challenging economic times, the importance of enhancing
Canada's scientific research community is critical, and advancing R&D is the
best way to bolster our country's competitiveness", said Paul Lévesque,
President and CEO, Pfizer Canada. "CDRD builds on the strength of hundreds of
researchers and applies business discipline and scientific rigor to select
promising technologies for development, giving Canada and British Columbia a
leading edge towards a prosperous knowledge-based economy."
    To obtain funding from the Pfizer-CDRD innovation fund, CDRD projects
undergo rigorous review by an expert committee and are evaluated on the
following criteria:

    
    - The overall value of the project;
    - The incremental benefit/value added to the project by the fund;
    - The quality of the plan and the achievability of the milestones; and
    - The potential return on the investment.
    

    "We believe that this unique collaboration with Pfizer serves as a model
for the future of early drug development work in Canada and beyond", said
Natalie Dakers, President and CEO at CDRD. "Multi-national companies like
Pfizer are looking to CDRD as a gateway to top notch research from BC's
academic and health research organizations. Not only do we identify
commercially promising research, we also provide the expertise and
infrastructure that enables researchers to focus on and develop promising
discoveries."

    About Pfizer Canada

    Pfizer Inc. is the world's leading pharmaceutical company. Pfizer invests
more than $7 billion annually to discover and develop life-saving and
life-enhancing medications for humans and animals. The company's Canadian
operation, Pfizer Canada Inc., is one of the largest private contributors to
health research in Canada and also donates more than $20 million annually to
support community initiatives.
    Headquartered in Kirkland, Quebec, Pfizer Canada and its cross-Canada
team of 1,200 employees are working together for a healthier world. Pfizer
Canada's commitment to helping Canadians live happier, healthier and longer
lives extends beyond medication. To learn more about Pfizer Canada's more than
medication philosophy and programs, visit www.morethanmedication.ca

    About CDRD

    The Centre for Drug Research and Development (CDRD) guides and supports
early-stage drug development from BC's top academic and health research
institutions to increase the successful commercialization of new therapeutics.
CDRD provides drug development expertise and infrastructure to enable
researchers throughout BC to develop promising drug candidates. A commercial
arm licenses technologies from affiliated institutions and advances projects
leveraging CDRD's expertise and infrastructure. The goal is to bring drugs to
commercialization with strategic partners or through new company creation. For
more information, visit www.cdrd.ca




For further information:

For further information: Pfizer Canada Inc: Julie-Catherine Racine,
(514) 693-4602, Julie-Catherine.Racine@pfizer.com; Centre for Drug Research
and Development: Catherine Ducharme, (604) 813-6104, cducharme@cdrd.ca


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