The province is investing $4 million toward the McMaster-Fraunhofer Project Centre for Biomedical Engineering and Advanced Manufacturing (BEAM) in Hamilton. The joint project centre is anticipated to create 70 to 100 jobs for highly qualified persons and attract top scientists and industry researchers from around the world to position Hamilton as an anchor city for Ontario’s life sciences sector.
McMaster University and Germany’s Fraunhofer Institute for Cell Therapy and Immunology are the collaborative forces behind BEAM, which will develop innovative technologies to move cell therapies from manual to automated production, significantly lowering the cost to treat degenerative diseases, such as cancer.
QUICK FACTS
Since 2003, Ontario has invested more than $3.8 billion in research and innovation.
Canada ranks sixth in the world in quality and impact of research and Ontario comprises nearly half of the national research enterprise.
Ontario businesses invest $6.8 billion in research and development each year.
BEAM will be located at the McMaster Innovation Park.
The cell therapies industry is estimated to generate annual revenues of $10 billion by 2021.
In 2012, Ontario funded more than $2 million towards the Fraunhofer Project Centre @ Western through the Ontario Research Fund.
QUOTES
“We are pleased to support McMaster University and Fraunhofer Institute for Cell Therapy and Immunology in their collaboration to develop a project centre focused on the fast emerging cell therapies industry. By investing in this initiative, we are helping to create jobs, attract top talent to the region and keep Ontario at the forefront of scientific discovery.”
— Dr. Eric Hoskins, Minister of Economic Development, Trade and Employment
“McMaster is a research powerhouse in life sciences and bioengineering. The province’s investment will allow us to capitalize on our talent and resources to accelerate the commercialization of our research for the global market. This partnership with Fraunhofer will help to create high-value jobs, improve the health of Ontarians, and train the next generation of leaders.”
— Patrick Deane, President and Vice Chancellor, McMaster University