Genome Canada receives $165 million in new funding as it waits for completion of Industry Canada commercialization review

Genome Canada is back on track with new core funding of $165 million over three years and the imminent release of $60 million in funding announced in last year’s Budget but never released. The $225-million package will allow the not-for-profit corporation to complete a major competition launched last year, bolster its regional centres and pay for the operation of core facilities and overall administration.

With the new funding, Genome Canada also commits to completing a policy framework. That includes a major commercialization component that could be funded once Industry Canada wraps up its commercialization review later this year.

“We received all the money we were looking for and even a little bit more because it’s $225 million over three years. We are very satisfied. It’s business as usual,” says Dr Martin Godbout, Genome Canada’s president and CEO. “Before the last Budget we had received $375 million and we’ve been successful in raising $455 million from other sources, not just the provinces but from all over the world. ”

Since that time, the amount raised and committed from other sources has increased to $700 million. When added to the $600 million in federal funds received and committed, the total in the first five years of operation is $1.3 billion.

With the new funding, Genome Canada will soon announce that access to its large technology platforms will be expanded to all Canadian and international scientists. The new access will be operated on a cost recovery basis and is a recognition that Canadian genomics and proteomics research is now on par with the best in the world.

“Our scientists and the technology that they have developed is highly competitive internationally and we should extend the benefit to other countries on a cost recovery basis,” says Godbout. “We have a lot of outstanding projects on our plate and we are still very passionate and optimistic about the role of Canada in genomics and proteomics research.”

Godbout says it is possible that the entire $165 million from the latest Budget will go towards funding for the current competition, which has received 93 proposals worth $1.4 billion. If any money is left over, it may be directed towards participation in international consortia. If the most promising proposals require funding of more than $165 million, Industry Canada will be approached for top-up funds.

And once the department’s commercialization review is complete, Genome Canada will request new funding to implement its full business plan, which includes commercialization and international consortia. Industry minister Dr David Emerson says the work Genome Canada has funded to date warrants the Budget’s latest funding package and confirms that more could be on the way.

“The work they’re doing is absolutely path breaking and fundamental to our technology strategy going forward,” he says. “The key is, we have to have a look across government, across the different departments and the different islands of research … and put the commercialization package together in a more strategic and cohesive way … We wanted Genome Canada to have enough money to keep doing the good work they’re doing.”

R$