Toronto, ON – The Canadian Centre for Commercialization of Regenerative Medicine (CCRM) has formed a strategic alliance with two international regenerative medicine translation centres: Australia’s Cooperative Research Centre for Cell Therapy Manufacturing (CTM CRC), and the UK’s Cell Therapy Catapult. The alliance will allow the organizations to collaborate in the development and commercialization of cell therapies on a global level.
All three organizations are already focussed on bringing cell therapies to market, and the collaboration will open the door to new international networks, ideas and technical expertise that will fast-track this work.
Agreements detailing the terms of the strategic alliance define opportunities for collaboration on potential joint projects and commercial opportunities, including research and development, commercialization, clinical trials, standardization and regulatory efforts, funding, reimbursement strategies, training programs, and other initiatives of mutual interest and benefit.
“The objectives of each of the centres are very tightly aligned; it makes sense that we would combine our strengths and resources,” said Michael May, CCRM’s president and CEO. “If we can push the commercialization of promising technologies, not only will it create patient benefits, but there will be economic benefits as well.”
Cell therapy is one of the most anticipated advances of the century, with the global market estimated to grow to US$6.1 billion by 2020. The current level of activity and investment is also at a record high. Many of the world’s largest biomedical and pharmaceutical companies are investing heavily in research and development in cell therapies, including Novartis, Johnson and Johnson, Pfizer, Amgen and GSK.