Montréal, Quebec, November 13, 2020 – Canada Economic Development for Quebec Regions (CED)
ExCellThera Inc., a company focusing on cellular and molecular medicine at the advanced clinical stage, will receive a repayable contribution of up to $4 million from Canada Economic Development for Quebec Regions (CED) as part of its launch of commercial production activities. This funding was announced today by the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, accompanied by Rachel Bendayan, Member of Parliament for Outremont and Parliamentary Secretary to the Minister of Small Business, Export Promotion and International Trade.
To realize its ambitions, ExCellThera will acquire state-of-the-art lab and production equipment (cytometer, orbital shaker, centrifuge system, CO2 incubator and automated cell processing equipment) with the aim of establishing commercial stem-cell bioproduction facilities. This project, which also includes the fitting-out of clean rooms, as well as related engineering and architectural services, could lead in time to the creation of 150 jobs and strengthen Montréal’s position as a nexus for cellular therapy and immunotherapy development.
The Government of Canada is committed to assisting Canadian businesses leveraging innovation. A veritable economic engine, innovation is the key to success as it generates growth in favour of businesses and communities. By supporting the launch of ExCellThera’s commercial activities, the government is enabling the business to acquire the equipment it needs to develop novel technologies and processes, for the benefit of the life sciences sector and the health of all Canadians.