CAIP awards $10.9 million to CDRD and CVI

The Centre for Drug Research and Development (CDRD) and its commercialization arm — CDRD Ventures Inc — have received $10.9 million from the Canada Accelerator and Incubator Program (CAIP). CDRD will use the funding to incubate firms by helping to de-risking discoveries derived from publicly funded health research and making early-stage research more investment ready. CVI will act as an accelerator, selecting the most promising discoveries and helping to advance the technologies to the point of licensing, co-development or the basis of a spin-off company. CDRD has evaluated more than 1,000 technologies since becoming fully operational in 2008....