Pfizer will have the opportunity to support mutually-selected CVI R&D projects with the goal of commercializing the programs and resulting intellectual property. This collaboration follows previous investments by Pfizer Canada Inc. in CDRD to support innovative projects with therapeutic potential.
Natalie Dakers, president and chief executive officer of CVI, said, "Pfizer was our pioneering industry partner making critical early investments in CDRD, thus enabling its evolution to become Canada’s national drug development and commercialization center. By now extending Pfizer’s partnership into CVI (its third such industry partnership), we have further validated the CDRD/CVI model, and built a continuous and robust means to support the most exciting new health technologies through their full development cycle."
"We are encouraged by the B.C. government’s openness to work collaboratively with our industry, and coupled with the great scientific leadership coming from the province, it has resulted in today’s collaboration announcement," said John Helou, president, Pfizer Canada. "CDRD Ventures Inc. builds on the strength of hundreds of researchers and applies business discipline and scientific rigor to select promising technologies for development, giving Canada and British Columbia an edge towards a prosperous knowledge-based economy which is critical to ensuring Canada’s global competitiveness."