A Vancouver biotechnology company is getting an injection of $45 million from two levels of government to build a facility expected to create hundreds of jobs.
The Canadian and B.C. governments are evenly splitting the public contribution to Stemcell Technologies’ $138-million manufacturing project, which will be constructed in Burnaby.
Dr. Allan Eaves, the company’s founder and CEO, said the funding will help Stemcell produce the substances necessary for clinical trials in areas like tissue engineering, gene therapy and regenerative medicine.
“We’ve had to contract out to the United States … to make these reagents, because we don’t have the facilities here,” Eaves told reporters at a news conference Wednesday.
“This money will help us build this facility here and bring those jobs back to Canada.”
