Management Response and Action Plan – Evaluation of ISED funding to the Centre for Drug Research and Development

The findings and recommendations of the Evaluation of ISED Funding to the Centre for Drug Research and Development (CDRD) were provided to the Science Programs and Partnership Branch of the Science and Research Sector (SRS) at Innovation, Science and Economic Development Canada (ISED). Management has been consulted and agrees with the findings included in this report and will take action to address all applicable recommendations by March 31, 2023.

Recommendation Planned Action on the Recommendation Responsible Official Target Completion

Relevance

ISED's Science and Research Sector should work with adMare BioInnovations to increase understanding within the academic community of its refined focus, role and objectives in regards to advancing drug R&D projects.

ISED Position

ISED SRS agrees with the recommendation. It is important for adMare to ensure that stakeholders in the health innovation ecosystem understand its objectives, direction and priorities. In particular, its greater focus on commercialization should be clearly communicated to academia.

ISED Management Response

ISED SRS will support adMare's ongoing multi-pronged approach to increase understanding and alignment with the academic community, which includes:

  • Meetings between adMare and relevant parties (regular roadshows and targeted outreach to key universities across Canada).
  • adMare partnering with academic institutions and associated organisations across Canada to regularly review their portfolio and be part of their investment/commercial advisory committees.
  • adMare sponsoring or providing educational presentations for relevant educational and entrepreneurship events at academic institutions.
  • adMare updating intake and diligence processes to clearly establish their role, objectives, and requirements early on in new opportunity discussions, including discussions around structure and partnership agreement terms.
  • adMare seeking regular feedback on performance (informal processes as well as the bi-annual third party stakeholder review).

Director General, Science Programs and Partnerships

March 31, 2023

  • Steps 1 through 4 are currently underway;
  • The next formal third-party review as part of Step 5 to initiate late 2022 for completion by March 31, 2023.

Efficiency

ISED's Science and Research Sector should engage with adMare BioInnovations to better understand the organization's metrics and plan towards self-sustainability.

ISED Position

ISED SRS agrees with the recommendation. Understanding adMare's level of self-sustainability, and plans to advance it, will help enhance the efficiency of the program.

ISED Management Response

ISED SRS will engage with adMare in a series of meetings to discuss and gain alignment on the following:

  • ISED and adMare's assumptions and expectations in regards to self-sustainability;
  • Potential strategies to advance towards self-sustainability; and
  • Short and long-term financial performance metrics, which will be added to the Performance Measurement (PM) Strategy.

Director General, Science Programs and Partnerships

March 31, 2023

  • Meetings to take place by November 2022.
  • Potential strategies to advance towards self-sustainability, financial performance metrics, and targets to be developed and added to the updated PM Strategy by March 31, 2023.