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TO BUSINESS EDITORS:
GlaxoSmithKline Inc. Launches $50 Million Life Sciences Innovation
Fund in Canada
TORONTO, Nov. 10, 2011 /PRNewswire/ - GlaxoSmithKline Inc. (GSK) today
announced the launch of the GSK Canada Life Sciences Innovation Fund,
a new national $50 million fund that will significantly advance the
commercialization of scientific innovation in Canada by investing in
early stage breakthrough research. The fund will identify strategic
investment opportunities within Canada's life sciences industry
including academic and health institutions, translational research
centres and start-up companies.
The announcement was made today in Toronto at an event hosted by GSK
in Canada President and CEO, Paul Lucas and Dr. Moncef Slaoui, GSK's
Global Chairman of Research and Development. The event was attended
by federal and provincial government representatives and leaders from
Canada's life sciences community.
"The GSK Canada Life Sciences Innovation Fund will provide a
competitive advantage to Canada's life sciences industry and help
advance the commercialization of research," said Paul Lucas, President
and CEO, GlaxoSmithKline Inc. "This is an important step in addressing
Canada's innovation gap and we're excited by the prospect of
developing even closer ties with leading research organizations across
Canada to enhance opportunities for innovation and create new
high-value jobs."
"Canada's life sciences industry is respected around the world with
many innovative companies and organizations engaged in high-potential
research," said Moncef Slaoui, global chairman of Research and
Development at GlaxoSmithKline. "The establishment of this fund
demonstrates GSK's confidence in Canada to continue to be an important
source of development for medicines of value for patients."
Managed by GlaxoSmithKline in Canada and GSK's global corporate
venture capital arm SR One, the new fund strengthens GSK's position as
a Canadian R&D leader and offers the company a unique opportunity to
help close Canada's innovation gap. Through direct investment,
Canadian researchers, academics and organizations focused on
high-potential early-stage research, have a unique opportunity to
benefit from GSK's leading global R&D experience.
About GlaxoSmithKline Inc. GlaxoSmithKline (GSK) is a leading
research-based pharmaceutical company with a challenging and inspiring
mission: to improve the quality of human life by enabling people to do
more, feel better, and live longer. This mission gives GSK the purpose
to develop innovative medicines, vaccines and healthcare solutions
that help millions of people. GSK is consistently recognized as one of
the 50 best employers in Canada and is a top 15 investor in Canadian
research and development, contributing more than $141 million in 2010
alone. With a proud tradition of charitable and community support, GSK
is designated a Caring Company by Imagine Canada. Discover more at
GSK.ca.
About SR One SR One is the corporate venture capital arm of
GlaxoSmithKline. The firm invests globally in emerging life science
companies that are pursuing innovative science that will significantly
impact medical care. Since 1985, SR One has invested approximately
$650 million in more than 140 companies. For more information, please
visit www.srone.com.
SOURCE GlaxoSmithKline
Image with caption: "GlaxoSmithKline Inc. President & CEO, Paul Lucas
and Dr. Moncef Slaoui, Global Chairman of Research & Development,
GlaxoSmithKline plc., launch the GSK Canada Life Sciences Innovation
Fund, a $50 million initiative to advance the commercialization of
scientific innovation in Canada. (CNW Group/GlaxoSmithKline)". Image
available at:
http://photos.newswire.ca/images/download/20111110_C4501_PHOTO_EN_6463.jpg
Image with caption: "GlaxoSmithKline Inc. President & CEO, Paul Lucas
and Dr. Moncef Slaoui, Global Chairman of Research & Development,
GlaxoSmithKline plc., launch the GSK Canada Life Sciences Innovation
Fund, a $50 million initiative to advance the commercialization of
scientific innovation in Canada. (CNW Group/GlaxoSmithKline)". Image
available at:
http://photos.newswire.ca/images/download/20111110_C4501_PHOTO_EN_6459.jpg
-0- 11/10/2011
/CONTACT: <p> </p> <p> Corporate Communications<br/> GlaxoSmithKline Inc.<br/> 905-819-3363 </p> <p> Anna Robinson<br/> 416-848-1401<br/> arobinson@national.ca </p> <p> Daniela Minicucci<br/> 416-848-1462<br/> dminicucci@national.ca </p>
/ CO: GlaxoSmithKline
ST: Ontario
IN: MTC
SU: FND
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0000 11/10/2011 11:15:00 EDT http://www.prnewswire.com
