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NEOMED Institute - NEOMED

$13.5 million for 2014-20
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NEOMED Institute

Number of partners
10

Partner contributions
$31 million

Headquarters
Montréal, Quebec

President and CEO
Donald Olds Donald Olds

Board chair
Laurence Rulleau Laurence Rulleau
Partner, CTI Life Sciences

Transforming academic innovations into the drugs of tomorrow


The opportunity

New commercialization models involving partnerships between big pharma, small biotechs and universities are becoming the norm for advancing promising drug discoveries from lab to bedside. The NEOMED Institute operates in two integrated R&D facilities: one specializing in small molecule therapeutics, and the other, specializing in the development of biologics and vaccines. NEOMED is leveraging these state-of-the-art R&D facilities and their multi-tenant, open-access drug development hub, along with additional funding from the Quebec Government, GlaxoSmithKline (GSK), AstraZeneca, Pfizer, Johnson & Johnson Innovation and Purdue Pharma to advance outstanding Canadian discoveries towards successful commercialization.

How NEOMED is seizing the opportunity

NEOMED identifies promising drug discovery projects emerging from academia and small- and medium-sized enterprises (SMEs). It then works closely with project originators, academic laboratories and contract research organizations to advance the research to the all-important proof-of-concept stage in humans. This approach improves the bottom line for Canadian SMEs, while strengthening the network of service and clinical companies based in Canada. It also creates strong ties between SMEs and international pharmaceutical companies, and new opportunities to conduct clinical trials of new drugs in Canada.

Among the results

  • NEOMED hosts more than 30 high-quality life sciences companies with more than 355 full-time employees across its two R&D facilities.
  • NEOMED has advanced a portfolio of 14 innovative projects, including its two commercialization successes, one that licensed its P2X3 program for chronic cough to Bellus Health and the signature of an exclusive global option and license agreement with the Californian company, Artelo Biosciences, for NEO1940 a novel, peripherally restricted, CB1/CB2 agonist developed as an anti-cancer therapeutic. NEOMED also completed a Phase IIa clinical trial for its drug candidate NEO6860, a medication intended for osteoarthritis-associated pain and other indications.
  • NEOMED sold its first spin-off company, NEOMED Labs, to Ampersand Capital, a U.S based private equity firm. Ampersand intents to fund the growth of NEOMED Labs which continues to be a tenant of NEOMED at its Laval site. The proceeds of this sale will be reinvested in NEOMED’s mission.
  • NEOMED announced the launch of its first start-up biotechnology company, Epigene Therapeutics which is actively seeking series A financing to fund the clinical development of its oncology program

Connect with NEOMED

 

News
June 15, 2016
February 26, 2016
Features
NEOMED to play key role in Quebec’s new life sciences strategy
June 29, 2017
Three Quebec cabinet ministers and more than 150 other dignitaries used the NEOMED Institute in Montreal as the backdrop for the May 5 launch of an ambitious plan to make the province one of the top five North American life sciences clusters within a decade. It is currently ranked tenth. Read more
Videos
Watch Video
NEOMED Institute
June 11, 2015