ANNOUNCEMENT 25 Apr 2018
The federal subsidy was provided under the Strategic Innovation Fund, a program designed to attract and support high-quality business investments by encouraging R&D that will accelerate technology transfer and commercialization of innovative products, processes and services and facilitate the growth of innovative firms.
NUMBER OF INTERVENTIONS
On April 25, 2018 Minister of Innovation, Science and Economic Development Navdeep Bains announced a Can.$22.5 million (U.S.$17.3 million) investment in biotechnology company STEMCELL Technologies to build a state-of-the-art manufacturing facility. This funding will support the development of regenerative medicine products certified for use in clinical trials, the construction of a $138-million state-of-the-art manufacturing facility by 2022, and the eventual consolidation of three of STEMCELL’s Vancouver locations into a single campus in Burnaby, British Columbia.