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Innovation & Job News

GlaxoSmithKline launches $50-million innovation fund in Toronto

Earlier this year, we reported that pharmaceutical giant GlaxoSmithKline was ramping up its Canadian presence by expanding its Mississauga facility and adding 70 new staff. On Nov. 10, the company announced that its expanded footprint in Canada would also include a significant investment in research, with the launch of its $50-million GSK Health Sciences Canada Innovation Fund.

In the announcement, the company said the investment dollars would spur the industry in Canada, helping to close the "innovation gap."

"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," said GSK president and CEO Paul Lucas. 

According to the company, the fund will provide direct investment to academic and research organizations involved in "early-stage research" in the health sciences sector, particularly academic and health institutions, translational research centres and start-up companies.

Writer: Edward Keenan
Source: Anna Robinson, for GlaxoSmithKline
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