Merck Frosst and Genome Quebec uncap $20M in fungal infection research Canadian

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Merck Frosst and Genome Quebec uncap $20M in fungal infection

research Canadian Press

Published: Monday, April 10, 2006

http://www.canada.com/topics/technology/story.html?id=103e8ee4-3fc2-

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Font: * * * * MONTREAL (CP) - Merck Frosst Canada Ltd. and

Genome Quebec have announced a three-year agreement to invest a

total of about $20 million in research into treatments for life-

threatening fungal infections.

Genome Quebec, a non-profit organization that manages more than $300

million from the public and private sectors, will invest $5.3

million.

Under the agreement made public Monday at a biotechnology conference

in Chicago, Merck Frosst will also put up $5.3 million, plus almost

$10 million in additional research funding.

The partnership, expected to add 10 Quebec research jobs at Merck

Frosst, " leverages the local research efforts in antifungal

medicines by further developing and using core technologies in

conjunction with Merck's antifungal discovery efforts, " Merck and

Genome Quebec stated.

" These quality positions demonstrate the relevance of government

support to Genome Quebec and prove that the right choice was made in

investing in life sciences, " stated Premier Charest.

" This support is also fruitful for the development of university and

industrial research and explains the presence of Quebec among world

leaders in research and development. "

Merck Frosst has been conducting antifungal research since the

1970s, and the New Jersey-based global drugmaker claims to be one of

the top 20 research and development investors in Canada, with

spending last year of $117 million.

© The Canadian Press 2006