Treatments for Cancers
Providence Therapeutics Holdings Inc. ("Providence"), a biopharmaceutical company developing messenger RNA (mRNA) vaccines and therapeutics, today announced its mRNA drug discovery partnership with University Health Network (UHN), ranked first on a list of Canada's top 40 research hospitals by Research Infosource Inc. and within one of the world’s top 5 hospitals for the fourth year in a row, as reported by Newsweek. This collaboration will allow Providence and UHN to develop mRNA-based vaccines and therapeutics for those living with difficult to treat cancers and infectious diseases, using Providence’s proprietary mRNA platform technology.
“This partnership is unique in that it provides country-of-origin rights to Canada for all therapies developed under the agreement. As a parent of a child that survived a late-stage cancer diagnosis, I empathise with anyone that needs treatment that is available elsewhere in the world but is too expensive for our healthcare system in Canada,” said Brad Sorenson, MBA, chief executive officer of Providence Therapeutics. “UHN is world-class, and Providence has demonstrated its mRNA platform is on par with other major mRNA companies. This sets up Canada to be a leader in exporting life-saving therapies throughout the world while taking care of Canadians.”
Brad Wouters, Executive Vice President, Science and Research at the University Health Network added, “Our partnership with Providence demonstrates the strength of discovery research at the University Health Network and our potential to fuel innovative therapeutic options for patients. This partnership will help us get homegrown treatments to patients faster and is a key path forward for research discoveries to evolve into medical breakthroughs.”
Through this collaboration, UHN and Providence will be able to partner on cutting-edge discovery projects with breakthrough mRNA technology. The product development and subsequent manufacturing will be done in Canada, thereby directly benefiting Canadians.
Programs developed through the collaboration that receive funding from the Canadian government or not-for-profits will provide an option to the host government for 100% reimbursement to retain country specific rights to intellectual property.