The government will be investing $20 million in regenerative medicine and stem cell research, Prime Minister Justin Trudeau announced Wednesday morning.
Speaking at the Centre for Commercialization of Regenerative Medicine (CCRM) in Toronto, Trudeau said the money will help the centre establish and run a stem cell therapy development facility.
Trudeau said the money will be invested through the government's Advanced Manufacturing Fund, and will help the facility work with industry to solve stem cell manufacturing challenges.
He noted that Toronto has become a "world class" hub for stem cell research and development.
"Regenerative medicine is the future. Not only is it the future, it's a branch of medicine that Canada and the province of Ontario are actually quite good at," he said.
Located in downtown Toronto in the MaRS Discover District, the CCRM focuses on developing ways to use stem cells, biomaterials and molecules to repair, regenerate or replace diseased cells, tissues and organs.
CCRM president Michael May said Canada is leading the charge as the industry moves toward mass production of stem cells and cell-based products.
“The industry and the science has evolved, and we’ve been leading for 60 years, the science of regenerative medicine and stem cells, it’s now time to lead the industrialization and commercialization,” May told CTV’s Canada AM on Thursday.
May said by scaling stem cell production capability, potentially thousands of patients a week can be treated, with billions of cells per patient.
