The latest edition of Re$earch Money magazine asks an intriguing question:
“Is half a billion dollars too big a budget ask to cure chronic conditions such as diabetes, heart disease, multiple sclerosis and Parkinson’s that account for the bulk of Canada’s health care costs?”
The article, available here, profiles the Canadian Stem Cell Foundation’s Pre-Budget Submission to the House of Commons Finance Committee calling on the federal government to commit $250 million in 2016 and an equal amount five years later to support the $1.5 billion Canadian Stem Cell Strategy. The federal outlay will be doubled with more than $1 billion from other sources, including the private sector, philanthropists, health charities and other partners.
Foundation President & CEO James Price told Re$earch Money that the government has been receptive to the case that he and coalition members have been making for the Strategy in the lead-up to March 22 tabling of Budget 2016. “Our proposal is strongly aligned with what we’re hearing in terms of the government’s proposed innovation agenda looking at investments that target key growth sectors for Canada that have the ability to attract investment, grow competitive export-oriented companies and diversify the economy.”
The article points out that the lion’s share of private funds would come from STEMCELL Technologies Inc., a Vancouver-based firm that plans to invest $350 million to $500 million in R&D over the Strategy’s 10-year time span. “If you want faster results (from stem cell research) you need a coordinated approach across Canada and that requires money,” says Dr. Allen Eaves, STEMCELL’s President and CEO.