On Jul. 15, 2009, Ontario announced it was joining forces with Pfizer and leading Ontario research institutions to develop a new generation of drugs to fight colorectal cancer.

Pfizer Inc., the world’s largest pharmaceutical company, is collaborating on a landmark $6-million oncology research project with the Ontario Institute for Cancer Research and the Ontario Cancer Institute. These research institutions are global leaders in genomics and cancer stem cell research aimed at finding a cure for cancer.

The province is investing $900,000 in this initiative through its Biopharmaceutical Investment Program, part of the government’s Next Generation of Jobs Fund. Investing in research and innovation has been a cornerstone of Ontario’s economic planning since 2003. Ontario’s Innovation Agenda is a $3.2-billion strategy to make Ontario one of the best places in the world to turn new ideas into new businesses and jobs.