Clinical Trials Ontario to make Ontario a preferred location for global clinical trials

Clinical Trials Ontario to make Ontario a preferred location for global clinical trials

TORONTO, July 5, 2012 /PRNewswire/ - Clinical Trials Ontario (CTO) officially launched at the 2012 BIO International Convention, the global event for biotechnology. The pharmaceutical industry welcomed the announcement as a boost to drug development in Ontario.

Clinical Trials Ontario has been created as a province-wide entity to make Ontario the preferred location for global clinical trials activity while maintaining the highest ethical standards.

While Clinical Trials Ontario's goal is to comprehensively make Ontario more competitive in the global clinical trials marketplace, its initial strategic approach is to streamline the ethics review and contract approval processes for industry-driven multi-site clinical trials in Ontario.

Creating Clinical Trials Ontario satisfies one of the strategic initiatives under the government's Life Sciences Commercialization Strategy to help position Ontario as one of the world's leading life sciences jurisdictions. This will ensure cutting-edge healthcare discoveries and products are developed and nurtured in Ontario — keeping and creating high-value jobs in Ontario and providing Ontarians with early access to innovative approaches to health care through investigational drugs, devices and services.

This approach will also reduce duplication, shorten study start-up time, provide the highest quality of review and ensure the highest standard of patient safety while increasing patient access to investigational therapies.

Given the importance of the governance structure for Clinical Trials Ontario and its relationship to industry and academia, its Board of Directors was also announced.  To access a complete list of the members of the CTO Board of Directors, click on CTO Board of Directors.

QUOTES

"Ontario is already a leader in bio-sciences and has one of the largest clusters in North America. This initiative is about sustaining the momentum we've built up and supporting a cutting-edge industry and good quality jobs." — Brad Duguid, Minister of Economic Development & Innovation

"In addition to helping Ontario become a strong competitor in the global industry-driven clinical trials market and providing better access to patients for innovative therapies, Clinical Trials Ontario will draw more industry investment to Ontario." — Ronald Heslegrave, Executive Director, Clinical Trials Ontario 

"We believe that the CTO will be a very important asset to Ontario in attracting Clinical Trials and the Research and Development investment that comes with it. Through the creation and funding of CTO, the Ontario government has shown that it understands the high level of global competition for the placement of Clinical Trials and has taken steps to be a world class player in this arena. — Nita Arora, Head of Clinical Operations, North America, Hoffmann-La Roche Limited

QUICK FACTS

• More than 5,200 clinical trials are underway in Ontario at any given time.
• Every year, public and private researchers in Ontario conduct $13.5 billion in R&D across all sectors.
• Currently, Ontario invests more than $500 million annually in basic and translational life sciences R&D.
• The private sector invests almost $700 million yearly in applied health research, including clinical trials.
• More than a million square feet and $1 billion in new research facilities have been completed in Ontario since 2005.

LEARN MORE ABOUT:

SOURCE Clinical Trials Ontario (CTO)

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Source: www.prnewswire.com