“For 10 years now, CCRM has been refining its ability to identify and advance promising company concepts,” said Michael May, president and CEO, CCRM. “We provide the financial, scientific and business support required to move inventions toward commercialization. With these agreements, CCRM is broadening its commitment to evaluate the market value of institutional discoveries and assess whether they would benefit from CCRM’s incubation program, and we are fostering international relationships to expand our global network.”
CCRM’s incubation program identifies opportunities by matching technologies with patient and market needs. Programs are then taken from concept to spin-out by strategically leveraging CCRM’s expertise and infrastructure. This model for de-risking and creating new companies improves the chances of their long-term success.
Notch Therapeutics is a product of CCRM’s incubation program. It launched in November 2019 with a multi-million-dollar collaboration with Allogene Therapeutics. In February 2021, Notch closed a Series A financing for US$85 million. The Toronto and Vancouver-based company is in hiring mode as it continues to develop new cell therapy candidates and the clinical readiness of its proprietary platform.
Despite the coronavirus pandemic, 2020 was a record year for investment in the field, according to the Alliance for Regenerative Medicine. The regenerative medicine sector attracted $19.9 billion in financing, compared to the previous record of $13.5 billion.
Regenerative medicine, including cell and gene therapy, harnesses the power of (stem) cells, biomaterials, molecules and genetic modification to repair, regenerate or replace diseased cells, tissues and organs.
CCRM was founded around an academic network that includes the University of Toronto, University Health Network, The Hospital for Sick Children and Ottawa Hospital Research institute. The new alliance partners, referenced above and quoted below, will expand our academic network and global reach.