Institute for Research in Immunology and Cancer has secured funding from CECR, the same government agency that supported its launch ten years ago.
Institute for Research in Immunology and Cancer – Commercialization of Research (Iricor), an immuno-oncology drug commercialisation cluster based at Université de Montréal, secured C$25m ($19.2m) in Canadian government funding on Monday.
The injection of capital came from the government’s Centres of Excellence for Commercialization and Research (CECR) program, which builds links between researchers and business in core industries including health and the life sciences.
CECR previously provided Iricor with $15m in capital upon its founding in 2008.
Irico invests in projects targeting oncological drugs and immunotherapies. In addition to funding, the centre offers access to industry-standard equipment and business expertise.
Iricor is situated at Université de Montréal’s Institute for Research in Immunology and Cancer. Its partners include commercialisation firm Mars Innovation, Université Laval, pharmaceutical firms AstraZeneca, Bristol Myers-Squibb and Merck Canada.
Iricor will use the capital to widen these partnerships across Canada as it looks to expand its ability to mature and commercialise research.
The centre has so far spawned three spinouts, generated 60 patent families and signed 24 strategic partnerships with industry. Iricor has financed more than 80 projects to date and is currently supporting seven clinical trials.
Nadine Beauger, president and CEO of Iricor, said: “The CECR program was responsible for our creation in 2008 and is now returning in full force to provide backing for our drug discovery project support initiatives all across Canada.”
