Merck Canada has renewed its partnership with the Quebec Consortium for Drug Discovery (CQDM) by investing a further $5 million over five years in the organization so it can continue its support of biopharmaceutical research in Quebec.
Merck is a founding member of CQDM, a not-for-profit organization whose mission is to identify, finance and support collaborative research projects focusing on key enabling technologies for drug discovery and development. It promotes synergies between academia and the biopharmaceutical industry by creating a network of exchange and cooperation for research conducted at universities, hospitals and at biotechnology and pharmaceutical companies.
"This new investment by Merck is a vital contribution that will allow CQDM to continue its mission of supporting the world-class biopharmaceutical research work that is conducted in Quebec," said Max Fehlmann, President and Director-General of the CQDM. "It will help us promote the development of technologies that will lead to important new discoveries to benefit patients."
The investment by Merck is part of its 2010 pledge to invest $100 million over five years in biopharmaceutical research and development programs with Quebec companies and academic and research institutions.
"Merck is pleased to renew its important collaboration with CQDM by making this significant investment," said Carlos Dourado, President of Merck Canada. "The CQDM performs a vital role of ensuring constructive collaboration among Quebec biopharmaceutical researchers so that all involved can get maximum returns from their R&D investments. This is a key success factor in promoting Quebec as a major North American biopharmaceutical research hub."
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