FOR IMMEDIATE RELEASE
From: The GelMA Company
The GelMA Company wins $510,000 Contract with the Government of Canada
KELOWNA, BRITISH COLUMBIA, August 22 2022 – The GelMA Company, a biotechnology start-up that produces high-quality biomaterials using a patented process, is excited to announce that it has secured a $510,000 contract with its new customer and strategic partner, the Government of Canada. This contract also makes The GelMA Company eligible for Direct Buy contracts with any Government of Canada organization for a period of 3 years. Each contract has a potential value of up to $8 million dollars.
The GelMA Company will supply their patented Okagel products to the National Research Council of Canada (NRC), the Government of Canada’s largest federal research and development organization which has fostered scientific excellence for over 100 years.
Innovation Solutions Canada (ISC), a federal funding program that fosters challenges for early stage R&D and late-stage prototype testing, helped design a test and a contract was successfully awarded by Public Services and Procurement Canada (PSPC) to the GelMA Company in support of a test with the NRC.
“We are proud that our technology was recognized and chosen by the Government of Canada. To have secured a major contract with the NRC adds to confidence in our future growth outlook and the future of the GelMA industry as a whole,” commented Dr. Mohamed Gamal, CEO and Founder of The GelMA Company.
“GelMA is traditionally a very time-consuming and laborious material to make in the lab. Researchers waste a lot of valuable time making GelMA, which ultimately delays the research process. With our new patented process for producing GelMA, our goal is to make GelMA accessible for researchers everywhere to increase research efficiency and the rate of scientific breakthroughs,” concluded Dr. Mohamed Gamal.
This new and coveted technology allows researchers worldwide to study cancer, patient-derived tumor growth and to stimulate differentiation of stem cells into various cell types. Additionally, Okagel will be used to mimic blood-brain-barrier formation and to stimulate brain cell growth. Okagel’s ability to maintain living cells throughout the bioprinting process will be evaluated by the NRC.
Okagel has the potential to change the face of cancer research through the generation of viable 3D tumor models. Compared to 2-dimensional laboratory cancer research, these innovative models can be more accurately studied and on which future therapeutics can be better tested. They also provide the potential to more ethically conduct pharmaceutical testing as they may eliminate the need for early animal testing.
Okagel has the potential to demonstrate stem cell therapy as a viable form of regenerative medicine. The ability of Okagel to successfully grow and differentiate stem cells in the laboratory paves the way for future research in stem cell science that can be applied to other fields.
This testing opportunity will accelerate The GelMA Company’s commercial growth by introducing Okagel as a desirable alternative to current biotech industry standard materials in Canada and internationally. Okagel will allow scientists to more efficiently carry out their research, and consequently, increase the rate of scientific breakthroughs and innovation.
About The GelMA Company
The GelMA Company is a biotechnology start-up founded in 2020. Okagel was developed at the University of British Columbia Okanagan Campus. This patented technology produces GelMA that is sterile, higher quality, and always consistent from batch-to-batch. The GelMA Company’s mission is to make biomedical research accessible to all through fairly-traded, high-quality GelMA biomaterials. For more information, please visit www.gelmaco.com
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SOURCE The GelMA Company
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