GE Healthcare, the Federal Economic Development Agency for Southern Ontario, and the Center for Commercialization of Regenerative Medicine (CCRM) are building a center for advanced therapeutic cell technologies in Toronto with an investment of CAD $40 million ($28 million) from GE and the Federal Economic Development Agency for Southern Ontario.The center is being established to accelerate the development and adoption of cell manufacturing technologies for regenerative medicine-based therapies. CCRM and GE will welcome partners from pharma, biotech and cell therapy companies for this initiative.

CCRM, a Canadian not-for-profit organization funded by the Government of Canada's Networks of Centres of Excellence program, the Province of Ontario, and leading academic and industry partners, supports the development of regenerative medicines and associated enabling technologies, with a specific focus on cell and gene therapy. A network of academic researchers, leading companies, strategic investors and entrepreneurs, CCRM aims to accelerate the translation of scientific discovery into marketable products for patients with specialized teams funding and infrastructure. CCRM sources and evaluates intellectual property from around the globe, offers various consulting services, conducts development projects with partners, and establishes new companies built around strategic bundles of intellectual property. CCRM has a fully resourced, 6,000 square foot development facility used to both evaluate and advance technologies, and 40,000 square feet in development for advanced cell manufacturing. CCRM is the commercialization partner of the Ontario Institute for Regenerative Medicine and the University of Toronto's Medicine by Design. CCRM is hosted by the University of Toronto and was launched in Toronto's Discovery District on June 14, 2011.

Source: GE Healthcare