Stem Cell Research Bringing Jobs and Innovation to Ontario, Canada

• Press Release
• Source: Ontario Ministry of Economic Development and Trade
• On 8:07 am EST, Tuesday November 3, 2009

TORONTO--(BUSINESS WIRE)--Ontario, Canada is supporting a world-class stem cell research project to help revolutionize treatments for major health conditions like cancer, heart disease and traumatic injuries, and create high-value jobs in Toronto.

The province is supporting the Ontario Initiative in Personalized Stem Cell Medicine, a project led by Dr. Janet Rossant of the University of Toronto and SickKids hospital. Dr. Rossant's team of 30 world-renowned stem cell researchers will use advanced technologies to develop cutting-edge health-care products. The provincial investment of $10 million in the project will also support the training and employment of 400 highly qualified research staff over the next five years in Ontario.

Funding world-class research is part of the Ontario Innovation Agenda – the Ontario government's plan to build an innovation economy that turns new knowledge into new jobs, better health care, a cleaner environment and endless possibilities for Ontario families.

"In the 21st century, economic stimulus must create jobs today and tomorrow - it must be both shovels in the ground, and support for innovative people and innovative thinking. This funding is part of a larger investment in research infrastructure that will support 1,300 construction jobs and more than 3,300 scientists across our province - including 400 highly-skilled research jobs right here in the GTA. We are demonstrating, once again, that our government understands the value of science to our economy today and for creating the jobs of the future," said John Milloy, Minister of Research and Innovation.

"The global market for stem cell therapies is estimated to reach $20 billion by next year. This field of research is exploding and the Ontario government understands the need to keep Ontario research and biotechnology at the forefront - to advance new discoveries, create new therapies and keep many of the world's best researchers right here in Ontario," said Dr. Janet Rossant, Director for the Ontario Initiative in Personalized Stem Cell Medicine.

QUICK FACTS

• Ontario scientists Dr. James Till and Dr. Ernest McCulloch were the first to discover stem cells in the 1960s. Ontario continues to be a global leader in stem cell research today.
• Recently, Ontario's Dr. Andras Nagy developed a safer way to make embryonic-like stem cells from a patient's own skin cells without the use of methods that could make the cells cancerous - a discovery that named him to Scientific American's first ever Top 10 Honour Roll.
• The Ontario Research Fund - Global Leadership Round in Genomics & Life Sciences (GL2) promotes research excellence in Ontario by supporting internationally significant research in genomics and gene-related areas, including stem cell research.

BlissPR
Rebecca Neufeld, 718-725-7357
rebecca@blisspr.com
or
Ministry of Economic Development and Trade
Ray Lancashire, 416-326-1608
Account Executive Media Relations, Invest Ontario
ray.lancashire@ontario.ca