Montreal, February 27, 2020 – CQDM is pleased to welcome Zymeworks Inc. as a new member of its biopharmaceutical research consortium established to identify and invest in highly innovative biopharmaceutical research projects in Quebec and Canada with the ultimate goal of enabling the development of better treatments for patients.
As a CQDM member, Zymeworks will benefit from the consortium’s ability to identify innovative biopharmaceutical research projects from across Canada. Zymeworks will participate in the leveraged financing of strategically aligned R&D projects and in parallel provide support for the development of a next generation of innovative technologies in Canada.
“We are delighted to welcome Zymeworks at CQDM. Zymeworks is a Canadian-based clinical-stage, biopharmaceutical company, and is a powerful example that strong innovative biotech companies can grow and flourish in Canada’s supportive life sciences ecosystem. Zymeworks will bring key expertise to the development of the next generation of innovative technologies that are essential to the growth of our life science economy,” said Diane Gosselin, President and CEO of CQDM.
“We are honored to join the distinguished global biopharmaceutical membership of CQDM,” said Tony Polverino, Ph.D., Executive Vice President, Early Development and Chief Scientific Officer at Zymeworks. “As a leader in Canadian biotech, this partnership underscores our commitment to building a strong life sciences sector in Canada and boldly developing disruptive treatments that benefit the patients whom we serve everywhere.”
CQDM is a biopharma-based research consortium created in 2008 with the mission to fund the development of innovative technologies to accelerate drug discovery and development. Its business model is based on a collaborative approach bringing together world-leading pharmaceutical organizations, Canadian biotech companies as well as the Canadian and Quebec governments who share the costs of the research. CQDM uses this leverage to reduce the risks inherent to early-stage biopharmaceutical research. In doing so, CQDM bridges the funding gap needed to drive innovation across the academic and private sectors, especially where early-stage research is concerned. Over the last 10 years, CQDM has benefited from the contribution of 13 industrial members: that includes Merck, Pfizer, AstraZeneca as founding members as well as Boehringer Ingelheim, Eli Lilly Canada, GlaxoSmithKline, Janssen, Novartis Pharma Canada, Roche, Sanofi Canada, Servier, Takeda and now Amgen. CQDM also received contributions from Quebec’s Ministry of Economy and Innovation (MEI) and from the Government of Canada under the Business-Led Networks of Centres of Excellence Program (BL-NCE). Since 2008, CQDM has supported the development of 77 outstanding innovative technologies totaling $93M in funding. These R&D projects, carried out by 1,200 scientists from 83 different research institutions (40 public and 43 private) across Canada, have generated numerous economic benefits for all the stakeholders of the life science ecosystem. For more information: https://cqdm.org/en.
CQDM – Jesse Paterson – Senior Director, Business Development
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