ExCellThera Inc., a company focusing on cellular and molecular medicine at the advanced clinical stage, will receive a repayable contribution of up to $4 million from Canada Economic Development for Quebec Regions (CED) as part of its launch of commercial production activities. This funding was announced today by the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, accompanied by Rachel Bendayan, Member of Parliament for Outremont and Parliamentary Secretary to the Minister of Small Business, Export Promotion and International Trade.

“The COVID-19 crisis has demonstrated how crucial investments are in innovation in the life sciences sector. Thanks to Government of Canada financial support, ExCellThera will be able to acquire state-of-the-art equipment to pursue its high-potential scientific research activities. This investment will also ensure the business can expand its team. Canadians need good jobs they can count on, and the Government of Canada will always be here to support Canadian businesses with a promising future and that contribute to job creation. This is how we will ensure a strong economic recovery across the country.”

The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED

“The Government of Canada is committed to stimulating innovation to enhance businesses’ productivity and competitiveness over the long term. We are therefore proud to be able to offer this support to ExCellThera, whose project will help strengthen Montréal’s position as a nexus to develop life sciences, a forward-looking sector. In addition to enabling the creation of many quality jobs, it will help the business maintain its enviable position in research markets, including internationally.”

Rachel Bendayan, Member of Parliament for Outremont and Parliamentary Secretary to the Minister of Small Business, Export Promotion and International Trade

“We are pleased to see the Government of Canada contribute to the development of a homegrown business working at the cutting edge of medical technology and with an international profile. This contribution will enable us to acquire specialized equipment to offer safe treatment to patients suffering from advanced cancers of the blood and other blood disorders, and to do so on a commercial scale.”

Guy Sauvageau, Founder, Chief Executive Officer and Scientific Head, ExCellThera

• The Honourable Mélanie Joly is the minister responsible for the six regional development agencies (RDAs), including CED.

• Funds have been granted under CED’s Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.

• CED is a key federal partner in Quebec’s regional economic development. With its 12 business offices, CED is present to accompany Quebec businesses, supporting organizations and regions into tomorrow’s economy.

• Created in 2015 in Montréal, ExCellThera Inc. develops bioengineered molecules and solutions to amplify stem and immune cell production for therapeutic ends. Its most advanced technology increases production exponentially in under seven days. This has the potential to revolutionize the stem cell transplant industry for the treatment of cancers and other therapeutic fields.

Media Relations
Canada Economic Development for Quebec Regions
dec.media.ced@canada.ca

Catherine Mounier-Desrochers
Press Secretary
Office of the Minister of Economic Development and Official Languages
catherine.mounier-desrochers@canada.ca

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