ACOA Funding For Neurodyn
September 23rd, 2013
The Honourable Gail Shea, Minister of Fisheries and Oceans, on behalf of the Honourable Rob Moore, Minister of State (Atlantic Canada Opportunities Agency), joined company officials at Neurodyn Inc., a Charlottetown-based biotech company, to announce funding to support the development of two new products.
Founded in Vancouver, British Columbia, Neurodyn Inc. expanded its research and development activities to Charlottetown where the company utilizes a portfolio approach to identify, validate, and develop bioactives for neuroprotection and the early treatment of neurological diseases.
“Our Government understands that the technological advancements being made by our Canadian companies will have a direct link to our future prosperity,” said Minister Shea. “Neurodyn is a prime example of why we continue to invest in innovative companies to create jobs, strengthen our economy and improve the quality of life of Canadians.”
The Government of Canada, through ACOA’s Business Development Program, is investing $458,833 to support Neurodyn as it moves forward to develop products for Parkinson’s disease mitigation.
“Neurodyn is committed to developing products that promote brain health and ease the burden of those living with Parkinson’s disease”, says Kenneth Cawkell, CEO. “We are grateful to the Government of Canada for its investment in this project and for recognizing these natural products for their outstanding benefits. This investment will enable Neurodyn to bring these products to market ensuring that Parkinson’s patients may soon find a brighter future living with their disease.”
Neurodyn is conducting a natural product drug development program with a specific extract of the ginsenosides from ginseng that shows compelling evidence for protection of early stage Parkinson’s disease. Neurodyn is developing two new products to be trade named NeuroPro and NeuroPro PD. Parkinson’s disease is the second-most common progressive neurodegenerative disease and is a significant social and economic cost to society.
The bioscience community in Prince Edward Island is celebrating National Biotechnology Week from September 20 to 27, 2013. This week provides the opportunity for the PEI Bioscience Cluster to showcase the valuable contributions it makes.
PEI’s Bioscience Cluster is made up of leaders from business, research, government and academia working together as an ambitious and dynamic team. Currently, the Prince Edward Island Bioscience Industry represents 38 companies and accounts for more than $90 million in sales and employs over 1,000 people.
For more information on Neurodyn Inc, please visit www.neurodyn.ca and for more information about biotechnology week activities in Prince Edward Island and across Canada, please visit: http://www.imagenenation.ca.