Health care innovations the focus of $1.5 million fund
Washington… Albertans are now one step closer to receiving advanced, made-in-Alberta medical treatments, devices and therapies thanks to a new fund created in partnership with Pfizer Canada Inc.

The Government of Alberta, Alberta Innovates – Health Solutions and Pfizer Canada Inc. have teamed up to create a $1.5-million fund to accelerate the commercialization of early-stage, innovative health care solutions, such as pharmaceuticals or medical devices.

“This partnership with Pfizer will take Alberta’s investments in research and innovation further, faster.” said Greg Weadick, Minister of Alberta Advanced Education and Technology. “Albertans will benefit from the advances in health care that will be developed and tested here, and our economy will grow in the process.”

The fund is the first action to grow from a Memorandum of Understanding between Pfizer Canada, Alberta Advanced Education and Technology, and Alberta Innovates – Health Solutions. Signed at the BIO 2011 Convention in Washington DC, the agreement encourages collaborative research and commercialization projects focusing on chronic diseases and innovations in health care services.

“Improving people’s health and treating diseases requires the kind of long-term commitment to innovation we see in Alberta. Being able to tap into the Alberta Innovates system gives us a competitive advantage by being able to co-develop and test health interventions more quickly,” said Mr. Paul Levesque, President of Pfizer Canada. “This also builds on our previous commitments in Alberta including a $500,000 contribution to the Alberta Osteoarthritis Team and its research programs.”

Alberta Innovates – Health Solutions will manage and administer the new fund, which joins Health Solutions’ slate of programs supporting medical and health care system research. Alberta Innovates – Health Solutions supports top quality, internationally competitive health research with the goal to improve the health and well being of Albertans and people around the world.

“This collaboration engages our health and medical researchers directly and offers opportunities for local health, biotechnology and pharmaceutical companies to participate in the development process,” said Dr. Jacques Magnan, CEO of Alberta Innovates – Health Solutions. “It also showcases the Alberta innovation system’s strength to attract companies like Pfizer, which brings an unparalleled depth of scientific and commercial capabilities to the province.”

The Alberta government is working to build a better Alberta by fostering economic growth, strengthening our health and education systems, investing in infrastructure, supporting safe and strong communities and ensuring a clean and healthy environment.

Visit the Government of Alberta newsroom http://newsroom.alberta.ca.