01/13/2016 11:12 EST | Updated 01/13/2017 05:12 EST

Ottawa To Give $20M For Stem Cell Research In Toronto: Trudeau

TORONTO — Prime Minister Justin Trudeau says the federal government will provide $20 million to the Centre for Commercialization of Regenerative Medicine to establish and run a stem cell therapy development facility.

Trudeau says the development centre will use a collaborative approach between research institutions and industry to solve cell therapy manufacturing challenges.

Regenerative medicine, using stem cells to repair or replace damaged cells and organs, has emerged as a promising approach to disease prevention and treatment.

Trudeau says supporting the facility will have significant benefits for innovative, health-related technology in Canada and around the world.

He predicts it will generate jobs and make Ontario an even stronger competitor in the bio-tech industry.

Trudeau is on a quick trip to Toronto that includes a meeting with Mayor John Tory.