MONTRAL, Nov. 13, 2020 /CNW Telbec/ - 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 $4million 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 Mlanie 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 Montral'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.

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"The COVID-19 crisis has demonstrated how crucial investments are in innovation in the life sciences sector. Thanks to Government of Canada financial support, ExCellThera will be able to acquire state-of-the-art equipment to pursue its high-potential scientific research activities. This investment will also ensure the business can expand its team. Canadians need good jobs they can count on, and the Government of Canada will always be here to support Canadian businesses with a promising future and that contribute to job creation. This is how we will ensure a strong economic recovery across the country."

The Honourable Mlanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED

"The Government of Canada is committed to stimulating innovation to enhance businesses' productivity and competitiveness over the long term. We are therefore proud to be able to offer this support to ExCellThera, whose project will help strengthen Montral's position as a nexus to develop life sciences, a forward-looking sector. In addition to enabling the creation of many quality jobs, it will help the business maintain its enviable position in research markets, including internationally."

RachelBendayan, Member of Parliament for Outremont and Parliamentary Secretary to the Minister of Small Business, Export Promotion and International Trade

"We are pleased to see the Government of Canada contribute to the development of a homegrown business working at the cutting edge of medical technology and with an international profile. This contribution will enable us to acquire specialized equipment to offer safe treatment to patients suffering from advanced cancers of the blood and other blood disorders, and to do so on a commercial scale."

GuySauvageau, Founder, Chief Executive Officer and Scientific Head, ExCellThera

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SOURCE Canada Economic Development for Quebec Regions

For further information: Media Relations, Canada Economic Development for Quebec Regions, [emailprotected]; Catherine Mounier-Desrochers, Press Secretary, Office of the Minister of Economic Development and Official Languages, [emailprotected]

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ExCellThera to establish stem cell bioproduction facility creating up to 150 jobs thanks to Government of Canada support - Canada NewsWire