Stem Cell Research Bringing Jobs and Innovation to Ontario, Canada

TORONTO--(Business Wire)--
Ontario, Canada is supporting a world-class stem cell research project to help
revolutionize treatments for major health conditions like cancer, heart disease
and traumatic injuries, and create high-value jobs in Toronto.

The province is supporting the Ontario Initiative in Personalized Stem Cell
Medicine, a project led by Dr. Janet Rossant of the University of Toronto and
SickKids hospital. Dr. Rossant's team of 30 world-renowned stem cell researchers
will use advanced technologies to develop cutting-edge health-care products. The
provincial investment of $10 million in the project will also support the
training and employment of 400 highly qualified research staff over the next
five years in Ontario.

Funding world-class research is part of the Ontario Innovation Agenda - the
Ontario government's plan to build an innovation economy that turns new
knowledge into new jobs, better health care, a cleaner environment and endless
possibilities for Ontario families.

"In the 21st century, economic stimulus must create jobs today and tomorrow - it
must be both shovels in the ground, and support for innovative people and
innovative thinking. This funding is part of a larger investment in research
infrastructure that will support 1,300 construction jobs and more than 3,300
scientists across our province - including 400 highly-skilled research jobs
right here in the GTA. We are demonstrating, once again, that our government
understands the value of science to our economy today and for creating the jobs
of the future," said John Milloy, Minister of Research and Innovation.

"The global market for stem cell therapies is estimated to reach $20 billion by
next year. This field of research is exploding and the Ontario government
understands the need to keep Ontario research and biotechnology at the forefront
- to advance new discoveries, create new therapies and keep many of the world's
best researchers right here in Ontario," said Dr. Janet Rossant, Director for
the Ontario Initiative in Personalized Stem Cell Medicine.

QUICK FACTS

* Ontario scientists Dr. James Till and Dr. Ernest McCulloch were the first to
discover stem cells in the 1960s. Ontario continues to be a global leader in
stem cell research today.
* Recently, Ontario's Dr. Andras Nagy developed a safer way to make
embryonic-like stem cells from a patient's own skin cells without the use of
methods that could make the cells cancerous - a discovery that named him to
Scientific American's first ever Top 10 Honour Roll.
* The Ontario Research Fund - Global Leadership Round in Genomics & Life
Sciences (GL2) promotes research excellence in Ontario by supporting
internationally significant research in genomics and gene-related areas,
including stem cell research.

BlissPR
Rebecca Neufeld, 718-725-7357
rebecca@blisspr.com
or
Ministry of Economic Development and Trade
Ray Lancashire, 416-326-1608
Account Executive Media Relations, Invest Ontario
ray.lancashire@ontario.ca

Copyright Business Wire 2009