Toronto, ON and Melbourne, Australia – Canada’s Centre for Commercialization of Regenerative Medicine (CCRM) and the Stem Cells Australia consortium have entered into a Memorandum of Understanding (MoU) to work together to increase the translation of stem cell research in the two countries.
Exploring the potential of stem cells and their regenerative capacity has been a core focus of medical research in Canada and Australia for many years. Recognizing the need to accelerate the translation of such findings into real benefits has led to CCRM joining forces with Australian researchers, from leading universities and research organizations across the country, through the Stem Cells Australia consortium. The purpose is to build an international cluster of scientific excellence.
“The MoU between CCRM and Stem Cells Australia is an excellent opportunity to flow new IP through CCRM’s due diligence process that may complement existing technologies CCRM is reviewing for licensing or bundling into new company creations,” says Michael May, PhD, CCRM’s CEO. “Being able to review disclosures from Canada and Australia will enhance CCRM’s ability to identify the most promising discoveries for commercialization and this, ultimately, benefits the regenerative medicine community.”
“CCRM is already working with one Australian research team and is in discussion with others. This MoU will formalize that relationship and allow others to have access to CCRM’s business development expertise and development capabilities,” says Professor Martin Pera, program leader of Stem Cells Australia and chair of Stem Cell Sciences at The University of Melbourne. “This partnership will also give Australian scientists the means to interact with CCRM’s industry partners to showcase their technical expertise and know-how. We anticipate that the trial agreement will lead to more extensive opportunities for engagement of Australian stem cell researchers outside of the consortium with SCA and the CCRM.”
The MoU will cover a trial period to assess the benefits of working together and determine the impact the two groups may have on increasing the translation of stem cell research. The agreement will accelerate translation of Australian discoveries in stem cell science into new research tools and cellular therapies, through CCRM’s special role in intellectual property development in this field.