iVexSol's project will tackle the cost and shortages of these treatments through high-volume production solution
TORONTO, Aug. 21, 2019 /CNW/ - Through the Innovation Superclusters Initiative, the Government of Canada is taking immediate and targeted action to build on Canada's existing strengths to help our companies and their workers get ahead in the global innovation race. The Next Generation (NGen) Manufacturing Supercluster is working to make Canada home to the world's most advanced manufacturing capabilities.
Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced that the Ontario-based NGen Supercluster has approved its first project.
The $4.2 million project led by iVexSol Canada (Intelligent Vector Solutions) will position Canada as a leader in producing viral vectors, which are molecular tools currently used to deliver genetic material into patients suffering from late-stage cancers and rare or inherited genetic disorders. This will help meet rising global demand for such innovative cell and gene therapy treatments.
iVexSol, a Toronto-based manufacturing company, is partnering with GE Healthcare, STEMCELL Technologies and the Centre for Commercialization of Regenerative Medicine Enterprises Inc. (CCRM Enterprises) to develop a new advanced manufacturing process for viral vectors.
This collaborative project will address outdated manufacturing techniques that currently hamper the manufacturing of these critical tools in cell and gene therapies, providing next-generation manufacturing capabilities to significantly increase doses, lower costs and shorten production time while maintaining a high level of quality and safety.
Minister Bains made the announcement at CCRM, a public-private consortium that accelerates the commercialization of cell and gene therapies.
The Innovation Superclusters Initiative is a centrepiece of the Government of Canada's Innovation and Skills Plan, a multi-year strategy to prepare Canada for the innovative jobs of today and tomorrow. This long-term program is making investments in five major hubs across the country, which are expected to create 50,000 jobs and contribute $50 billion to Canada's GDP over the next 10 years.
"The NGen Supercluster is just getting started establishing Canada as a global hub for the world's most advanced manufacturing. Our government recognizes that without immediate and targeted action that builds on Canada's existing strengths, we risk falling behind in the global innovation race. This project is an important first step for the game-changing work of the supercluster and will drive innovation in the treatment of diseases and genetic disorders once considered untreatable."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"Advanced technologies are not only leading to the development of new life-saving therapeutics. This project shows how technologies are also opening up new ways to manufacture biomedical products and new opportunities to reap the benefits: more investment and more jobs here in Canada."
– Jayson Myers, CEO, Next Generation Manufacturing Canada
"iVexSol looks forward to working with NGen and its partners to make a significant contribution to next-generation manufacturing, which will lower costs and increase access for patients waiting to receive these life-changing treatments."
– Dr. Rod Rietze, CEO, iVexSol Canada Inc.
- The Government of Canada's investment of up to $1.8 million in this project has helped leverage up to $2.4 million in contributions from industry and other partners.
- Under an agreement signed with the NGen Supercluster last November, the Government of Canada is investing up to nearly $230 million in this supercluster, matched dollar for dollar by the private sector.
- The NGen Supercluster is a crucial element in Canada's goal to build up next-generation manufacturing capabilities, ensuring "Made in Canada" symbolizes excellence in innovative manufacturing worldwide.
- Under a recently signed Canada-European Union arrangement to facilitate trans-Atlantic cluster collaboration, Canada's five superclusters will have opportunities to form strategic business partnerships and linkages with cluster organizations and firms in the EU.
- The NGen Supercluster is expected to create more than 13,500 jobs and add more than $13.5 billion to Canada's economy over 10 years.
- Canada's five superclusters have so far announced a total of 14 projects with expected funding contributions of up to $28.7 million from the Innovation Superclusters Initiative, leveraging an expected additional $40.4 million from private industry and other partners.
- Innovation Superclusters Initiative
- Next Generation Manufacturing Canada
- Canada and EU collaborate on superclusters
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SOURCE Innovation, Science and Economic Development Canada
For further information: Dani Keenan, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, 343-291-2500; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]