CCRM, a company developing and commercializing regenerative medicine-based technologies and cell and gene therapies, and McMaster Innovation Park (MIP) in Canada, 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 expands a months-long relationship between CCRM and MIP, and formalizes their intent to co-develop a business around the construction and operation of one of 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.
The agreement, which is focused on an initial CDMO facility to produce cells and viral vectors for Phase III trials and commercial-scale manufacturing, represents the first phase to develop a biomanufacturing campus at the innovation park. The short-term priority is to develop a facility design and an investment thesis that the parties will use to secure industry, regulatory and government support, along with the funding necessary for its construction and operation.
"Our partnership with MIP is about more than building a facility," said 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."
Ty Shattuck, CEO of McMaster Innovation Park, said, "The introduction of CCRM to MIP's innovation ecosystem is in the context of MIP's 2.8 million sq. ft. Life Sciences 'MegaHub', announced earlier this year. CCRM will be an anchor within the MIP, and because they will retain their research facilities within MaRS, it will act as an ongoing and active connection between two of the most advanced life science ecosystems within Canada."
