BMO’s $1-million donation to support stem cell and regenerative medicine research in Canada is “an investment in the future,” says a senior executive with the leading financial institution.
“As the generations go on, it’s important for us to give back to the people we work with, we live with, who are in our communities,” Sandra Henderson, Senior Vice-President of BMO Financial Group’s Eastern Ontario Division, told Ottawa Community News.
The investment includes a $500,000 donation to the Ottawa Hospital’s Regenerative Medicine Program at the General campus’ Sinclair Centre, and $500,000 to the Canadian Stem Cell Foundation, of which $250,000 will go to the hospital’s new research initiatives and $250,000 to other national activities.
“By Canadian standards, that’s probably one of the largest corporate gifts specifically directed to stem cell research and regenerative medicine in the country,” James Price, Foundation’s President & CEO, told Ottawa Community News. “Canada is a leader in stem cell research, just as the Ottawa Hospital is.”
Currently, the Ottawa Hospital’s Regenerative Medicine Program has 250 scientists, research staff and trainees working at the Sinclair Centre for Regenerative Medicine and the Sprott Centre for Stem Cell Research.
The lab of Dr. Duncan Stewart, Executive Vice-President of Research at the Ottawa Hospital and Senior Scientist of the Ottawa Hospital Research Institute’s Regenerative Medicine Program, has been renamed the BMO Financial Group Laboratory in honour of the bank’s financial contribution.