- CCRM AND MIP ANNOUNCE THEY HAVE EXECUTED A LETTER OF INTENT TO PARTNER IN THE DEVELOPMENT AND OPERATION OF A BIOMANUFACTURING CAMPUS AT MCMASTER INNOVATION PARK
- CCRM TO LEVERAGE MIP-MCMASTER UNIVERSITY ECOSYSTEM, SOUTHERN ONTARIO LIFE SCIENCES INNOVATION CORRIDOR
- MIP TO LEVERAGE CCRM AS A NEXUS OF MANUFACTURING CAPABILITY AND COMMERCIALIZATION WITHIN THE GLOBAL REGENERATIVE MEDICINE ECOSYSTEM, INCLUDING CELL & GENE THERAPIES
CCRM, a leader in developing and commercializing regenerative medicine-based technologies and cell and gene therapies, and McMaster Innovation Park (MIP), Canada’s Premier Innovation Park announced, they have signed a Letter of Intent (LOI) to partner in the development of a biomanufacturing campus at MIP focused on regenerative medicine-based technologies and cell and gene therapies. The LOI advances a months-long relationship between CCRM and MIP, and formalizes their intent to co-develop a business case around the construction and operation of what is envisioned to be Canada’s largest and most advanced Contract Development and Manufacturing Organization (CDMO). The envisioned facility will enable CCRM to scale its operations and provide critical space, services and support to cell and gene therapy focused ventures from across Canada and the world.
“Our partnership with MIP is about more than building a facility,” explained Dr. Michael May, President and CEO, CCRM. “This is about building domestic manufacturing capacity within the region for the next generation of medical advances. Our expectation is that the biomanufacturing campus within MIP, and the CDMO, will result in jobs, economic stimulus for the region and, most importantly, life-saving products for patients. For Canada, our opportunity to be amongst the global leaders in cell and gene therapy is of strategic significance.” CCRM will retain its current Toronto offices, research facilities and manufacturing facilities in the MaRS Centre.
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Thank you to our MIP community for your continued support in developing the park and Ontario’s Life Sciences Corridor.
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