March 22, 2017 (Ottawa) Today the Government of Canada invested $6 million for Canada’s Stem Cell Network (SCN) to support innovative stem cell and regenerative medicine research that will move and translate research discoveries into better health and economic growth for Canadians.
In Canada, chronic diseases cost $190 billion per year, of which $68 billion is for direct healthcare costs. An aging population will only see these numbers rise. However, with stable support for stem cell and regenerative medicine research we can make a difference in the lives of those who are suffering from illnesses such as MS, diabetes and cancer.
Noting that stem cell science is a clear competitive advantage for Canada, Dr. Michael Rudnicki, Scientific Director of SCN stated, “Today’s federal investment will drive innovative therapies and treatments into the clinic and marketplace.” He added, “The Stem Cell Network welcomes this investment and thanks the Government of Canada for its continuing support.”
SCN also applauds the federal government for its focus on skills and training. Over the past 15 years SCN has played a key role in training the next generation of multidisciplinary stem cell researchers. Over 2,500 highly qualified personnel have benefitted from SCN support. These individuals are well positioned to respond to emerging labour markets and support Canada’s knowledge based economy.
“We are at a tipping point in the regenerative medicine field. Investors around the world are calling this sector one of the biggest frontiers of our time,” said Dr. Rudnicki. “With the right strategy that supports Canadian researchers, entrepreneurs and up-and-coming SMEs Canada can and will capture a significant piece of the global RM market. A market that is valued to be an estimated $49B by 2021.”
About the Stem Cell Network: Supporting and building Canada’s stem cell and regenerative medicine research sector has been the raison d’etre of the Stem Cell Network (SCN) since its inception in 2001. Its work has been supported by the Government of Canada from the beginning. SCN’s mandate is to act as a catalyst for enabling the translation of stem cell research into clinical applications, commercial products and public policy. In just over 15 years SCN has forged a national community that has transformed stem cell research in Canada, brought research to the point where regenerative medicine is changing clinical practice and established an outstanding international reputation. SCN has pushed the boundaries of what was a basic research area towards translational outcomes for the clinic and marketplace. www.stemcellnetwork.ca
Director, Communications & External Affairs
Stem Cell Network