The construction of the main headquarters for the institute started in January 1966 inaugurated in the presence of Quebec Health Minister Eric Kierans and in 1967, IRCM became affiliated to Université de Montréal, providing additional courses and later recruitment to some of the university's graduates.
In 1992, IRCM celebrated its 25th year[1] and a new wing was inaugurated (named bloc Basset).
On 24 March 2006, the new 26,500 meter square premises and laboratories were inaugurated in the presence of Raymond Bachand, Quebec Minister of Economic Development, Innovation and Export.
It also gets financing from various sources including the Economic Development, Innovation and Exports Ministry of Québec (MDEIE), from Fonds de la recherche en santé du Québec (FRSQ) and Canadian national organizations.
It also organizes annual campaigns and various activities for financing The Institute awards the Marcel-Piché Prize every two years to an IRCM researcher in recognition of their research and contribution to the growth and outreach of the Institute and the IRCM Merit Award annually to an individual who plays an exceptional role in the development of the biomedical sciences.