Canadian Medical Isotope Ecosystem Announces Development Fund to Foster Innovation in the Canadian Isotope Industry

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The Canadian Medical Isotope Ecosystem Development Fund (CMIEDF) will invest in Canadian projects that advance medical isotope supply or develop emerging technologies in radiotherapeutics and diagnostics.

Vancouver, British Columbia and Ottawa, Ontario–) – On November 16, the Canadian Medical Isotope Ecosystem (CMIE) – an initiative co-led by TRIUMF Innovations and the Centre for Probe Development and Commercialization (CPDC) – held an industry information session to announce the launch of the Canadian Medical Isotope Ecosystem Development Fund (CMIEDF).

The CMIE initiative’s goal is to accelerate R&D investment, collaboration, technology adoption, and training to enable Canada to lead in the innovation of medical isotopes. Through the new Development Fund, the CMIE will support industry collaboration and invest in promising Canadian projects that advance medical isotope supply or develop emerging technologies in radiotherapeutics and diagnostics.

“Our Government is committed to providing Canadians and medical workers with the best emerging medical technologies and opportunities. With the creation of the Canadian Medical Isotope Ecosystem, we continue to develop a strong domestic production of pharmaceutical products that will contribute to make Canada a prized destination for the medical isotope industry, while creating highly skilled jobs across Canada,” said Hon. François-Philippe Champagne, Minister of Innovation, Science, and Industry.

Funding for the CMIEDF will be drawn from the $35 million in launch funding awarded to the CMIE by Innovation, Science and Economic Development Canada’s Strategic Innovation Fund (SIF). Resources will be awarded directly to recipients and used to support them through the process of research, development, and commercialization. Funding for selected projects will increase as recipients achieve successful project milestones.

“This new project funding will provide resources to enable new collaborations to accelerate the development of the next generation of medical isotope innovations in Canada,” said Kathryn Hayashi, CEO of TRIUMF Innovations, Co-Lead for the CMIE.

“The CMIE Development Fund has been created with the goal of identifying, funding and ultimately commercializing promising early-stage medical isotope technologies and radiopharmaceutical research from across the country,” said Owen Roberts, CEO of the Centre for Probe Development and Commercialization, Co-Lead for the CMIE. “Our primary objective is to accelerate the development of great Canadian technology for the benefit of Canadian patients and the medical community.”

“It is exciting to see our government’s $35 million investment being used to advance Canada’s leadership in medical isotopes and radiopharmaceuticals,” said MP Pam Damoff, long-time champion and advocate for the Canadian isotope industry at the federal level. “This investment led to collaboration in the medical isotope sector with the creation of the Canadian Medical Isotope Ecosystem, and I have no doubt that the CMIEDF will lead to advances in medical isotopes to help Canada lead the world in medical isotopes.”

Opportunities for interested parties to receive funding support from the CMIEDF can be found on the Call for Proposals tab on our website. Applications for our first round of funding will open on December 15.

Source : Yahoo Finance