[February 21, 2013]

CDRD Ventures Inc., and Pfizer Announcement Showcases Today's Investment for Health Innovation

BIOTECanada, the national industry association representing 250 biotechnology companies today congratulates CDRD Ventures Inc., (CVI), the commercialization vehicle of The Centre for Drug Research and Development (CDRD) and Pfizer on their announcement of a new strategic collaboration aimed at advancing Canada's most promising health technologies towards commercialization.

"Canada is home to hundreds of research enterprises in almost every region across the country developing truly game-changing therapies and treatments to significantly improve health care for thousands of Canadians, and thousands more globally, who suffer from debilitating or life threatening illnesses," commented Andrew Casey, President and CEO BIOTECanada. "The success of these udertakings is highly dependent on capital and partnerships with larger biotechnology companies. The CVI-Pfizer partnership announced today serves as an excellent example of the new biotech-health business model where commercialized companies interconnect with smaller companies and research enterprises fostering an eco-system to move research from an idea in the lab to a bona fide treatment in the health care system."

Biotechnology plays an important role as a preventative tool and modern treatments for cancer, blood disorders and respiratory illness in the health care system. Screening patients for susceptibility to disease and providing vaccinations has impacted millions of Canadians. With biotechnology, we can glean understanding of our genetic code, improving our collective health. These advances offer doctors the tools to prevent and cure diseases with a personalized approach.

The Canadian life sciences sector continues to show determination and resiliency. The industry is seeking in excess of $1 billion of capital to help Canadian companies grow and develop. Through diverse products and process developments, Canadian biotechnology companies are boosting commercial productivity in agriculture, healthcare, energy, and advanced manufacturing.

BIOTECanada is the national industry association with nearly 250 members located nation wide, reflecting the diverse nature of Canada's health, industrial and agricultural biotechnology sectors.

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