The Government of Canada supports the life sciences sector by supporting business, talent, research and development.

A $92 million investment in adMare BioInnovations will transform healthcare research into new and innovative treatments.

VANCOUVER, British Columbia, March 30, 2022 /CNW/ – Protecting Canadians, keeping them safe and building the country’s capacity to respond to future health crises are priorities for the Government of Canada. As part of its biomanufacturing and life sciences strategy, the Government of Canada actively supports the growth of a robust and competitive life sciences sector in the country and ensures that it is equipped with advances in biomanufacturing.

Today, the Minister of Innovation, Science and Industry, the Honorable François-Philip Champagneannounced a $92 million investment in adMare BioInnovations to support innovation, business development and learning in the Canadian life sciences sector. These investments will help turn commercially viable health research into innovative treatments. In addition, leading Canadian companies will provide the training needed to drive growth in the life sciences sector.

adMare Innovation Centers Vancouver and Montreal offer entrepreneurs, university researchers, innovators, and emerging small and medium-sized enterprises (SMEs) a full range of services, including scientific expertise, research infrastructure, business development support, and funding for new research and development projects with strong commercial potential.

Canada expands its talent pool, improves its research systems and engages industry leaders so that innovative ideas can lead to the scientific discoveries of tomorrow. The government will continue its efforts to improve the health of Canadians, restart the economy and provide well-paying jobs for workers.

Quotes

“Today’s investment in adMare BioInnovations marks another step in the recovery of the biomanufacturing sector after 40 years of decline. By investing in its entrepreneurs, researchers, scientists and innovators, Canada will be well prepared for future pandemics and health emergencies. Canadian talent and business will help us solve some of the world’s most pressing problems and make Canada a center of life sciences and biomanufacturing. »
– Minister of Innovation, Science and Industry, the Honorable François-Philip Champagne

“adMare is very grateful to the Government of Canada for the strong support given to adMare and the entire life sciences business in Canada. The historic investment made by Canada will help adMare fulfill its mission of growing business, ecosystems and talent more effectively. They will also help achieve the ambitious targets set out in Canada’s Bioproduction and Life Sciences Strategy. Today we have an unprecedented opportunity to make Canada a world leader in the life sciences; and together with our partners in government, academia, industry and the financial community, we look forward to realizing this vision. »
– President and CEO of adMare BioInnovations, Gordon S. McCauley

Data
in short

  • adMare BioInnovations is a non-profit organization that works to identify promising health and drug discoveries—and reduce the associated risks. It also provides experience, infrastructure and capital to develop the Canadian life sciences sector.
  • To date, adMare’s 27 portfolio companies have raised over $1.4 billion in investment in projects worth more than $3 billion. They also employ over 900 Canadians.
  • Through funding announced in the 2021 budget, adMare aims to advance new research and development (R&D) projects in healthcare and pharmaceuticals; supporting Canadian SMEs through R&D collaborations; help create and develop new, well-established, high-margin, high-performing life sciences companies that will stay and grow in Canada; build a highly skilled workforce through its Executive Life Sciences Institute and its postdoctoral fellowship and undergraduate program; and training Canadian scientists through its bioinnovation science program.
  • On July 28, 2021, the Government of Canada launched the Biomanufacturing and Life Sciences Strategy, outlining its long-term vision to protect people from future epidemics and pandemics.
  • Developing the biomanufacturing and life sciences sector in Canada is a priority that goes well beyond efforts to combat the COVID-19 pandemic. Public investment in this growing sector is supporting thousands of middle-class jobs. They will strengthen Canada’s preparedness for future pandemics for many years to come.
  • The 2021 budget provides a total of $2.2 billion over seven years to support the growth and dynamism of the life sciences sector and prepare the country to adequately respond to future pandemics. It also provides funds to strengthen the talent pool and research systems in Canada, and to support the growth of companies in the life sciences sector.

Related links

keep for updates

For more information or to learn about the services offered by the Department, visit Canada.ca/ISED.
Follow Canadian science on social media @CdnScience: TwitterInstagram, Facebook

SOURCE Innovation, Science and Economic Development Canada

For more information: Laurie Bouchard, Senior Communications Manager, Office of the Minister of Innovation, Science and Industry, [email protected]; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]

Leave a Comment