GSK and NEOMED Launch $2M Discovery Fund to Accelerate Novel Science and Technologies in Quebec
21 June 2017
The fund aims to advance and de-risk innovative and early stage human therapeutic discoveries arising from academic and research institutes in Quebec
Laval, QC, June 21, 2017 – GlaxoSmithKline Inc. (GSK) and NEOMED Institute (NEOMED) are pleased to announce that they have entered into a collaborative partnership by launching a $2 million Discovery Fund with the specific objective of identifying and advancing novel therapeutic targets of strategic interest to GSK and NEOMED.
GSK and NEOMED will each contribute $1 million ($200,000 per year over five years) to the Discovery Fund, which will provide seed funding to advance the efforts of one or more promising Quebec investigators conducting research on novel therapeutic targets, from target validation to lead drug candidate selection. Successful projects will continue to be advanced through project-specific collaboration agreements, terms of which will be negotiated once an appropriate milestone is achieved. Additionally, successful candidates will benefit from ongoing mentorship and expert counsel provided by senior GSK and NEOMED scientists, and the use of NEOMED’s state-of-the-art facilities and network of industry service providers.
“We are proud to accelerate innovation and competitiveness in Quebec through this major R&D investment with NEOMED,” said Paul Lirette, President, Canada Pharmaceuticals, GSK. The Discovery Fund stands as a testament to GSK’s continued commitment to Quebec’s life sciences sector and represents a significant opportunity to tap into the inventiveness and creativity of our scientific community, which is internationally recognized.”
A Discovery Committee with representatives from both GSK and NEOMED will review and select projects for progression. Fully integrated project plans will be developed in collaboration with GSK and NEOMED scientists, in which the investigator will play a crucial role.
“We are extremely pleased to initiate this new and innovative partnership with GSK to identify and advance leading-edge scientific discoveries from the laboratories of some of Quebec’s best researchers,” said Donald Olds, President & CEO of NEOMED. “Advancing early stage programs is critical to ensure greater value capture for the discoverer and for Quebec, and NEOMED is uniquely positioned to collaborate with university partners and GSK to achieve exactly this end. Over our four-year history, we have demonstrated our capability to forward novel targets from preclinical development to proof-of-concept human clinical trials,” he added.
About GlaxoSmithKline Inc. (GSK)
One of the world’s leading research-based pharmaceutical and healthcare companies – is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For further information, please visit www.ca.gsk.com.
About NEOMED Institute (NEOMED)
The NEOMED Institute is a not‐for‐profit organization whose mission is to create a bridge between basic research and the commercialization of new drugs by providing industrial expertise in drug discovery and development, combined with funding and a favorable ecosystem, to transform innovations into solid therapeutic solutions. NEOMED drives drug discovery activities up to the stage of human proof of concept. The NEOMED Institute has two fully integrated research and development campuses: one in Ville Saint‐Laurent, specializing in small molecule therapeutics, and the other facility, specializing in the development of biologics and vaccines, in Laval. Both facilities function as open‐access drug discovery hubs housing independent commercial businesses (29 independent companies employing almost 300 people) and providing a dynamic environment that stimulates collaboration, innovation, and creativity. NEOMED’s wholly-owned for-profit subsidiary, NEOMED-LABS, a Contract Research Organization (CRO) providing customized and high-throughput immune-monitoring for clinical vaccine development, is one of these tenants.
The NEOMED Institute is jointly funded by the pharmaceutical industry, the Ministère de l’Économie, de la Science et de l’Innovation du Québec, and the Networks of Centres of Excellence (NCE) of Canada.
For further information, please visit www.neomed.ca.
GSK Media Enquiries:
NEOMED Media Enquiries:
President & CEO
1-514-367-1212 ext. 206
Director, Scientific Affairs
1-514-367-1212 ext. 203