Pfizer Inc., the world’s largest pharmaceutical company, is collaborating on a CAN$6 million (£3.31 million) oncology research project with the Ontario Institute for Cancer Research and the Ontario Cancer Institute.

The province is investing CAN$900,000 (£496,000) 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 CAN$3.2-billion (£1.77 billion) strategy to make Ontario one of the best places in the world to turn new ideas into new businesses and jobs.

‘Pfizer’s decision to advance their R&D through collaboration with Ontario researchers is a testament to the strength of our talent and our global leadership in cancer research. New breakthroughs will continue to be made, and we want these people, these ideas, and these high-value jobs right here in Ontario,’ said Minister of Research and Innovation John Milloy.

‘Today’s investment will continue to support Ontario researchers in their efforts to make new discoveries that will lead to increased quality of care for patients, and better lives for families that are dealing with cancer,’ said Minister of Health and Long-Term Care David Caplan.

Ontario is the largest hub of biomedical activity in Canada and the fourth-largest biomedical research centre in North America.