Montréal, June 9, 2015 ‒ The Board of Trade of Metropolitan Montreal is pleased that DalCor Pharma has chosen the Montreal Heart Institute to conduct an international clinical study to improve the treatment of cardiovascular disease. This study will inject huge sums into developing the city’s strategic health infrastructures.
“This private $250 million investment is great news for biomedical research and development in the city,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “It is evidence of the tremendous talent of our researchers and institutions. The decision to award this research mandate to the Montreal Heart Institute shows this institution’s leadership and solid reputation built up over the decades.”
“This announcement also shows that local life sciences research institutes can respond to the needs and challenges of companies,” Michel Leblanc said. “This private-institutional partnership comes on the heels of many recent collaborations that have generated tremendous benefits both scientifically and economically and that create quality jobs for the city. Last year, the alliance between the French company Domain Therapeutics, the Université de Montréal and the Institute for Research in Immunology and Cancer (IRIC) made it possible to open a very active North American subsidiary in Montréal: the NEOMED Institute. The IRIC also has partnerships with Bristol Myers-Squibb, and Metro Inc. supermarkets recently invested hundreds of thousands of dollars in the institute’s activities.”
“When the California company Sanderling Ventures created DalCor Pharma, it made it possible to support a research and development industry through investments of around a half billion dollars, but it also helped create new critical businesses,” Mr. Leblanc said. “We are very pleased with the economic and biomedical contribution of this major private injection of capital.”
“With its 600 organizations and 40,000 people working in life sciences and health technologies, Greater Montréal is a leading place to invest in research and development in this sector,” Michel Leblanc said.
About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal has over 7,000 members. Its mission is to be the voice of Montréal’s business community and to promote the city’s prosperity. It is involved in key areas of economic development, advocating a philosophy of action based on engagement, credibility, proactivity, collaboration and innovation. The Board of Trade also offers a range of specialized services to individuals and to business of all sizes to support them in their growth at home and abroad.
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Sources:
Michelle LLambias Meunier
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042
mllambias@ccmm.qc.ca
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