The National Research Council of Canada’s Industrial Research Assistance Program (IRAP) has long been a pillar of support for Canada’s innovative small and medium-sized enterprises (SMEs). Recently, IRAP awarded a substantial funding grant of $400,000 to Rapid Dose Therapeutics Corporation (RDT), a leading Canadian pharma-tech company renowned for its proprietary drug delivery technologies aimed at enhancing patient outcomes.
Supporting Innovation in Drug Delivery
RDT’s latest project, funded by IRAP, focuses on the development of cannabis-infused QuickStrip Oral dissolvable film strips. These strips revolutionize drug delivery by allowing medication to be swiftly absorbed into the bloodstream upon placement on the tongue. Marketed as a quick, convenient, precise, and discreet option for drug consumption, RDT’s innovative approach not only promises enhanced patient experience but also drives technological advancement within the healthcare sector.
Driving Economic Growth and Technological Advancement
Beyond innovation, RDT’s project funded by IRAP is also instrumental in job creation and workforce upskilling. By expanding their manufacturing capabilities and scaling production to meet global demand, RDT not only enhances product performance but also strengthens its intellectual property portfolio. This strategic growth not only bolsters RDT’s competitive edge but also contributes significantly to Canada’s pharmaceutical and healthcare manufacturing industries.
Commitment to Research and Development
RDT exemplifies Canada’s commitment to clinical research and product development across diverse sectors, including nutraceuticals, pharmaceuticals, and cannabis. Their service-oriented business model, focused on licensing their proprietary drug delivery technology to strategic partners, ensures sustainable revenue growth and facilitates rapid market expansion into emerging sectors.
IRAP’s Role in Supporting Innovation
IRAP’s funding and advisory services play a pivotal role in nurturing Canada’s innovation ecosystem. By partnering with regional and national organizations, IRAP facilitates the commercialization of cutting-edge technologies developed by SMEs. This collaboration not only accelerates product development and market entry but also enhances the global competitiveness of Canadian businesses.
Rapid Dose Therapeutics Corporation’s success story with IRAP funding underscores the transformative impact of strategic investment in innovation. By leveraging IRAP’s support, RDT not only advances its technological capabilities but also reinforces its position as a leader in pharmaceutical and healthcare innovation. For Canadian SMEs aspiring to scale their innovative solutions, IRAP remains a crucial ally in navigating the path from concept to commercialization, driving economic growth and technological advancement in Canada and beyond.
Applying for IRAP is a viable opportunity for your company. If you wish to have support during the application process, reach out to EVAMAX for a no-obligation consultation.
Our Grant Specialists will not only support you through the IRAP application but also connect you with other innovation funding opportunities that are applicable to your company.
