Pfizer donates $1M to Centre for Drug Research & Dev't

Pfizer Canada is providing $1 million to the Centre for Drug Research and Development (CDRD) to create a Pfizer-CDRD Innovation Fund for fast tracking academic research projects into medicinal products to be licensed or spun off as new companies. The funding is the first by a major pharmaceutical company in CDRD — a network of more than 250 researchers spread across eight British Columbia-based research institutions. CDRD has already received $50 million in federal and provincial funding towards its goal of $100 million. The hybrid organization is comprised of the non-profit Drug Research Institute and the for-profit Drug Development Inc. CDRD has applied to the Centres of Excellence in Commercialization and Research program. Results will be announced in March….