The Government of Canada advances the national life sciences sector by supporting Canadian businesses, talent, and research and development

The Government of Canada advances the national life sciences sector by supporting Canadian businesses, talent, and research and development

Canada News Wire

VANCOUVER, BC, March 30, 2022

A $92 million investment in adMare BioInnovations will help translate health research into innovative new therapies in Canada

VANCOUVER, BC, March 30, 2022 /CNW/ – Protecting the health and safety of Canadians and ensuring we have the national capacity to respond to future health crises are top priorities for the Government of Canada. With advice from from Canada Biomanufacturing and Life Sciences Strategy, the government actively supports the growth of a strong and competitive national life sciences sector with leading biomanufacturing capabilities.

Today, the Honorable François-Philip ChampagneMinister of Innovation, Science and Industry, announced a $92 million investment in adMare BioInnovations to drive the company’s innovation, scale and training activities in from Canada life sciences sector. This investment will help translate commercially promising health research into innovative new therapies and enable Canadian flagship companies to provide the required training and drive the growth of from Canada life science companies.

Thanks to adMare’s innovation centers in Vancouver and Montreal, entrepreneurs, university researchers, innovators and emerging Canadian small and medium-sized enterprises (SMEs) can access a full range of services, including scientific expertise, research infrastructure and support for the development of companies, as well as the financing of new research and development projects with strong commercial potential.

Canada develops its talent pool and diverse research systems while attracting industry leaders to transform innovative ideas into the scientific discoveries of tomorrow. The government will continue to focus on improving the health of Canadians, restarting the economy and creating well-paying jobs for Canadians.

Quote

“Today’s investment in adMare BioInnovations is another step forward as we continue the work of rebuilding our biomanufacturing sector after a 40-year decline. We know that by investing in Canadian entrepreneurs, researchers, scientists and innovators, Canada be well prepared for future pandemics and health emergencies. It is through Canadian talent and businesses that we will solve our world’s toughest problems and make Canada a hub for life sciences and biomanufacturing.”
– The Honorable François-Philip ChampagneMinister of Innovation, Science and Industry

“adMare greatly appreciates the strong government support of Canada has shown, not only to our organization but also to from Canada the entire life sciences enterprise. Historical investments Canada has done will significantly enhance adMare’s ability to fulfill its mission of building businesses, building ecosystems, and building talent, as well as advancing the ambitious goals set out in from Canada Biomanufacturing and Life Sciences Strategy. Today we have an unprecedented opportunity to Canada a world leader in life sciences, and together with our partners in government, academia, industry and the investment community, we look forward to realizing this vision. »
Gordon C. McCauleyPresident and CEO, adMare BioInnovations

Fast facts

  • adMare BioInnovations is a not-for-profit organization that works to identify and de-risk promising discoveries in health and drug technologies and to provide expertise, infrastructure and capital to advance Canada’s life sciences sector. the life.

  • Currently, adMare’s 27 portfolio companies have attracted over $1.4 billion in investments with a combined value of more than $3 billionand they employ over 900 Canadians.

  • With this funding announced in Budget 2021, adMare seeks to advance new health and pharmaceutical research and development (R&D) projects; supporting Canadian SMEs through R&D collaborations; help create and grow new, well-seeded, high-value, high-impact life sciences companies that stay and grow in Canada; train highly qualified personnel through its Executive Institute, postdoctoral fellowships and undergraduate training programs; and train Canadian scientists through its bioinnovation science program.

  • At July 28, 2021the government launched from Canada Biomanufacturing and Life Sciences Strategy, which outlines a long-term vision to protect Canadians from future epidemics and pandemics.

  • Growth from Canada The life sciences and biomanufacturing sector is a priority that goes beyond the response to the COVID-19 pandemic. Government investments in this growing sector are supporting thousands of good, middle-class jobs while ensuring from Canada pandemic preparedness for years to come.

  • The 2021 budget foresees a total of $2.2 billion for seven years to develop a vibrant national life sciences sector and ensure pandemic preparedness. This budget funding provides foundational investments to help build from Canada a talent pool and research systems and to foster the growth of Canadian life sciences companies.

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SOURCE Innovation, Science and Economic Development Canada