News Feed: Biopharmaceuticals

Biopharmaceutical Investment News – provided by ShiftCentral

  • Silicon Valley firm pegs Halifax as research HQ

    2014-04-09 - A pharmaceutical research firm with Silicon Valley roots is establishing its research and development headquarters at the Innovacorp Enterprise Centre in Halifax. BioCycive is a privately held biopharmaceutical research company dedicated to the fight against cancer and infectious diseases. Shalabh Gupta, CEO of BioCycive of California, said the decision to establish a permanent research and development headquarters at the Innovacorp Enterprise Centre relates to the proximity to Dalhousie University and critical research work underway at that institution. BioCycive will maintain its business development offices in California, due to the strength of the biotechnology and biopharmaceutical sector in the Silicon Valley area. Halifax will take the lead on the research and development side.

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  • Domain Therapeutics opens subsidiary in Montreal

    2014-01-19 - French firm Domain Therapeutics is opening a North American subsidiary at the NEOMED Institute in Montreal as part of a plan to bring BioSens-All, a new GPCR-specific biosensor technology, to market. Domain is hoping the geographical closeness of the new subsidiary to Canadian and U.S. pharmaceutical and biotech firms will help it secure new partnerships with them and also speed up the development of its own projects using the new technology. The firm says BioSens-All technology allows users to predict the pharmacological profiles of drug candidates by bringing to light the signaling pathways that each candidate molecule activates.

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  • Versant Ventures opens Vancouver office

    2013-12-08 - The venture capital firm specializing in life sciences has targeted British Columbia for investment, opening an office and investing $10 million in a new company that will be managed by its Vancouver biotech team. Versant Ventures' drug discovery incubator Inception Sciences partnered with Bayer Healthcare to create Inception 4, a company focusing on the development of drugs to treat retinal eye disease. Brad Bolzon, managing director of Versant Ventures, said his company is investing in B.C. to develop early-stage companies because he knows there is research talent and leading academic research in the province. Versant is also looking at expanding its operations in Quebec  in 2014.

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  • Merck invests $4M in patient-oriented research

    2013-09-29 -  Merck Canada is providing a $4 million grant to the Fonds de recherche du Québec - Santé for academic research as part of a commitment made in 2010 to inject $100 million over five years in biopharmaceutical R&D in Quebec. The FRQS grant will go toward supporting patient-oriented research conducted by the Strategy for Patient-Oriented Research initiative.  Merck says that this latest grant brings their total contributions to date as part of their $100 million commitment to approximately $68 million.

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  • Almirall opens subsidiary in Canada

    2013-09-09 - Almirall, the international pharmaceutical company based in Barcelona, has opened a new subsidiary in Canada. This will be the pharmaceutical’s fourteenth laboratory outside Spain. On the American continent, the company already has a subsidiary in Mexico. Almirall will use its Canadian subsidiary primarily to develop therapeutic solutions for respiratory and skin diseases. The new subsidiary, which is based in Mississauga, will also start launching new products aimed at the Canadian domestic market, including a new treatment for chronic obstructive pulmonary disease.

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  • Servier Canada to invest $16.3M in Montreal's life sciences sector

    2013-09-05 - Servier Canada, Canadian subsidiary of France-based Servier Research Group, will construct a new Centre of Excellence in Clinical Research into cardiovascular disease, cancer and neuropsychiatry. This complex represents a $16.3 million investment which will enable the company to hire 40 or so new employees over the next few months. To facilitate and launch its expansion project in the metropolitan area, Servier Canada enjoyed the combined support of Montréal International, Laval Technopole, the Biotech City and Montréal InVivo.

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  • Baxter, Coherus sign collaboration agreement for biosimilar market worth $246M

    2013-09-02 - Baxter International and Coherus Biosciences will develop and commercialize a biosimilar to etanercept for Europe, Canada, Brazil, and other markets. Baxter expects the exclusive collaboration - projected by the companies to generate up to $246 million - will speed up its expansion into the biosimilars market.  Under the agreement, Baxter will pay Coherus the amount in payments tied to development and regulatory milestones in return for Coherus carrying out development of the biosimilar. The agreement also allows the companies to develop and commercialize an alternative biosimilar to etanercept, pending the outcome of clinical data.

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  • Sanofi Canada inaugurates new corporate head office in Laval

    2013-05-07 -

    Sanofi inaugurated its Canadian corporate head office in Laval, Quebec. The new offices, together with a Canadian center for distribution in Kirkland, Quebec, form a renewed investment of $12 million by Sanofi in the province. Sanofi companies in Canada include Sanofi Canada (pharmaceuticals), Sanofi Pasteur (vaccines), Sanofi Consumer Health (health and beauty), Genzyme (rare diseases) and Merial (animal health). Together they employ more than 1,700 Canadians and, in 2012, invested $122 million in R&D in Canada, creating jobs, business and opportunity throughout the country.

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  • Zymeworks grows collaboration effort with Merck

    2013-04-15 -

    Canadian biotech firm Zymeworks reached a second research milestone agreement in its collaboration with Merck related to its proprietary Azymetric platform for the development of novel bi-specific antibody therapeutic candidates. In conjunction with the terms of the collaboration agreement, Zymeworks is to receive an undisclosed milestone payment from Merck. Zymeworks is eligible to receive research, development and regulatory milestones with a potential value of up to $187 million, as well as tiered royalty payments on sales of products.

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  • Vancouver's Xenon Pharmaceuticals further strengthens partnership with Merck

    2013-04-16 -

    Vancouver-based Xenon Pharmaceuticals announced that Merck has exercised its option to exclusively license small molecule compounds for a novel target for the potential treatment of cardiovascular disease. In 2009, the companies entered into a strategic alliance where Xenon employed its human clinical genetics platform to validate novel cardiovascular targets and collaborated on the discovery and development of small molecule compounds for those targets. Under the terms of the original agreement, Xenon received milestone payments and an option fee and is eligible for further milestone payments of up to $86.5 million. In addition, Merck will pay Xenon undisclosed royalties on sales of products resulting from the collaboration.

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  • Ontario, partners, investing $100M in neuroscience

    2013-03-04 -

    The Ontario government is investing in world-leading brain research to improve health care and create new jobs for the people of Ontario. Keeping the province on the cutting edge of research and innovation, Premier Kathleen Wynne announced the Ontario government will provide $100 million over five years to support patient-focused neuroscience research. The Province's support will help the Ontario Brain Institute expand its research into the areas of neurodegeneration, such as Alzheimer's disease, and depression and continue its important research on cerebral palsy, autism and epilepsy. It will also allow the institute to leverage additional investments from various partners including industry, philanthropic, federal and international sources.

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  • P.E.I. pharmaceutical company gets private financing

    2013-02-17 -

    Neurodyn, a pharmaceutical company based in Charlottetown, announced that it has raised $1.5 million in private financing. The investors included the Charlottetown-based Regis Duffy BioScience Fund,  Houston-based Mertz Holdings, and a number of other U.S. and Canadian private investors. Originally, Neurodyn had targeted to raise $1 million. An additional $500,000 was raised over this targeted amount. Kenneth Cawkell, CEO of Neurodyn, says Neurodyn has developed a unique business plan that focuses on identifying the bioactive compounds of proven natural products.

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  • AstraZeneca, Pfizer partner on $100M drug research collaboration project in Canada

    2012-11-22 -

    AstraZeneca and Pfizer will team with Quebec to create the Neomed Institute, a life sciences research facility in Montreal that will host researchers, university officials and employees from the drugmakers as well venture capitalists. The three partners are spending $100 million on the venture, with the largest portion of the financing contributed by AstraZeneca. "The cost of discovering new drugs keeps rising and pharmaceutical companies need to adapt," said the institute's president, Max Fehlmann.

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  • Merck to invest $12.5M in Quebec health R&D

    2012-11-25 - Merck Canada is investing $12.5 million to fund research at three Quebec university-affiliated and hospital-based research centre as part of its commitment to R&D in Quebec. The investment will go to the Research Institute of the McGill University Health Centre, the CHUM Research Centre and the Montreal Heart Institute Research Centre.This latest round of research funding brings total Merck Canada investments so far in the province to about $60 million, the company said.

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  • Quebec boosts R&D tax credit for biopharmaceuticals

    2012-11-20 - Quebec is boosting to 27.5%, from 17.5%, the refundable tax credit for R&D salaries in the biopharmaceutical sector, for all spending incurred to Jan. 1, 2018. The projected cost of the enhanced credit is $20 million in 2013. The government also will provide matching funding of as much as $125 million over the next five years to support large-scale projects carried out by public-private research partnerships. The province is hoping enhanced tax credits will provide another boost to R&D activity in Quebec and keep it a preferred location for life-sciences investment. The industry is currently facing challenges that include mounting costs, competition from emerging countries and patent expirations, reports The Montreal Gazette.

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  • Biotech giant Gilead Sciences to expand Edmonton operations

    2012-11-15 - U.S.-based Biotech firm Gilead Sciences plans to start construction in early 2013 on a research and development facility in northeast Edmonton, reports the Edmonton Journal. The new building will house lab and office space for more than 80 scientists, the company said. In tandem with the expansion, the firm aims to hire 50 more local scientists including a “significant number” of PhDs, said the general manager of Gilead’s Edmonton operations. Gilead didn’t disclose an investment price for the project, but said the new facility will cost “tens of millions of dollars” to build.

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  • GlaxoSmithKline backs Canadian biotech in $35M deal for kidney drug

    2012-10-25 - London-based GlaxoSmithKline is planning to fund biotech advances in Canada. The drugmaker's Canadian fund played a leading role in a $35 million financing for Montreal-based Thrasos Therapeutics, a developer of therapies for renal ailments, which attracted a sextet of new backers as it seeks proof-of-concept data for a candidate drug against acute kidney injury. Led by SR One with funds from the GSK Canada Life Sciences Innovation Fund, Thrasos' new financing included five additional new investors: Advanced Technology Ventures, Fonds de solidarité FTQ, Lumira Capital, MP Healthcare Venture Management and Pappas Ventures. Previous backer SW Co. took part in the financing as well.

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  • China's Shenzhen Hepalink takes 10% stake in ProMetic; signs research deal

    2012-10-16 - ProMetic Life Sciences is moving to expand its presence in Asia through strategic agreements that will see China's Shenzhen Hepalink Pharmaceutical take a 10% interest in the company. Quebec-based ProMetic said that Hepalink will make a $10-million equity injection in the company for its stake, a 63% premium over the Oct. 15 closing share price on the TSE. The announcement was coupled with news that the companies have signed two strategic agreements worth up to $21 million.

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  • ProMetic Life Sciences, Blackstone-backed NantPharma team up

    2012-07-30 - ProMetic Life Sciences and a partner with financial backing from the Blackstone private equity group have formed a joint venture to develop and commercialize a plasma-derived product for the U.S. market. Under their agreement, ProMetic, of Laval, will grant rights to its plasma protein purification system and prion reduction technology to the NantPro BioSciences joint venture. The other partner, NantPharma, has provided an initial $2.5 million to NantPro and has the right to make additional capital contributions in exchange for an increased equity stake.

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  • ESI Canada opens Customer Experience Centre in Mississauga to help plan sponsors

    2012-07-17 - Express Scripts Canada has opened its Customer Experience Centre in Mississauga. Located in the same premises as the ESI Canada Ontario Pharmacy, the Customer Experience Centre will offer plan sponsors insight into how they can better manage the prescription drug benefit on behalf of their organizations. It will also serve as the new home for ESI Canada's Pharmacy and Clinical Services team, which develops products and services to meet the needs of the Canadian health benefits marketplace. President Michael Biskey said the centre "is built on the same premise as the Express Scripts Research & New Solutions Lab in St. Louis, which is that greater insights lead to greater results."

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  • Pfizer Canada announces $32M investment in Saint-Laurent

    2012-07-11 - Pfizer Canada will be awarded a non-refundable financial contribution of $2,670,000, through Investissement Québec, for an investment project estimated at $31.7 million. The project is aimed at increasing the production capacity of Pfizer Canada's plant in the borough of Saint-Laurent in Montréal. It involves enlarging and upgrading the manufacturing facility that will be used to produce more than 4.4 billion multivitamin tablets each year. The new equipment and facilities include a high-speed automated bottle packaging line, a compression machine, two more blenders and coating machines, two new dispensing rooms and additional storage space.

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  • Pfizer invests $4.5M into public research on Alzheimer's disease

    2012-06-27 - Pfizer Canada and the Fonds de recherche du Québec - Santé (FRQS) announced the creation of the Pfizer-FRQS Innovation Fund for Alzheimer's Disease and Related Disorders, because of $4.5 million in funding from Pfizer Canada. This FRQS-managed research grant program will be available to Quebec's research community.

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  • ProMetic gets $4.6M purchase order from Switzerland's Octapharma

    2012-06-26 - ProMetic Life Sciences has received a $4.6-million purchase order under its supply agreement with Octapharma, a Swiss-based global plasma fractionation company that specializes in human proteins. Shipments to Octapharma for the order are expected to exceed $2 million in the second half of 2012, ProMetic said. ProMetic is a biopharmaceutical company located in Laval, just north of Montreal. It has research and development facilities in the United Kingdom, the U.S. and Canada and manufacturing facilities in the U.K. and business development activities in the U.S., Europe, Asia and in the Middle East.

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  • Canadian researchers find potential Ebola virus cure

    2012-06-13 - Canadian researchers are reporting a potential advance in the treatment of Ebola virus infection, one of the most deadly pathogens known to Humankind, reports The Canadian Press. Researchers from the National Microbiology Laboratory in Winnipeg are reporting that monkeys deliberately infected with Ebola were successfully saved with a cocktail of antibodies against the virus. There currently is no vaccine and no treatment for Ebola, a viral hemorrhagic fever that causes sporadic, tragic outbreaks in countries in central Africa.

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  • Montreal's life-sciences industry gets boost with $150M fund

    2012-05-28 - Montreal’s Teralys Capital is investing $65 million in a new $150-million life-sciences fund along with U.S. multinational partner Eli Lilly and Co.’s $40 million and a commitment that will help Quebec’s biotech industry recover its growth momentum. Eli Lilly, the world’s 10th-largest drug company best known for its insulin products derived from original University of Toronto research, will set up a Canadian unit of its global early-phase drug development network.

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  • Atlantic Canada called cancer research leader

    2012-04-26 - Few people know the Atlantic Canada region is a leader in cancer research, says the director of the Atlantic Cancer Research Institute. Rodney Ouellette made the comment during a presentation in Halifax that outlined some of the newest developments in the battle against the disease. The institute’s researchers are working toward early detection for many cancers including prostate, colon, ovarian and lung cancer, Ouellette said. And finding ways to catch cancers in their earliest stages is the goal for the institute’s researchers.

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  • Merck, Lumira Capital to announce multimillion-dollar Quebec research fund

    2012-03-22 - Merck Canada is partnering with Lumira Capital and other venture capital firms to launch a multimillion-dollar R&D fund to attract pharmaceutical firms to Quebec. The Montreal-based subsidiary of the U.S. pharmaceutical giant is set to announce an investment to create the Merck-Lumira BioScience Fund. The fund will initially be worth several tens of millions of dollars, The Canadian Press has learned. Merck has committed to investment $100 million through 2015 in biopharmaceutical R&D collaborations with Quebec-based companies and academic institutions.

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  • McKesson takes over Canadian pharmacy network

    2012-01-30 - McKesson Corp. announced that it is buying a few units of Katz Group, a private Canadian company that operates a retail pharmacy network, in a deal worth $920 million. Specifically, McKesson is buying Drug Trading Company, which has a marketing and purchasing arm for a network of over 850 independent pharmacies that primarily operate under the I.D.A. and Guardian brands, and Medicine Shoppe Canada, which runs a franchise business that provides services to 160 independent pharmacies.

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  • McKesson confirms $25M centre in Moncton

    2012-01-26 - McKesson Canada, a subsidiary of U.S.-based McKesson Corporation, is investing $25 million into a distribution business in Moncton, N.B., that will serve the Maritime region. McKesson Canada is moving to a new distribution centre in Moncton’s Caledonia Industrial Park, where it will employ 90 people. The new centre will hire 40 new workers on top of the 50 existing employees the company had at its previous facility. The company says its distribution centres supply 40% of the medicines used in Canada to 6,300 retail pharmacies and 1,350 hospitals, clinics and institutions.

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  • Alexion to acquire Enobia Pharma for up to $1.08B

    2011-12-29 - Alexion Pharmaceuticals agreed to acquire closely held Montreal’s Enobia Pharma Corp. for as much as $1.08 billion, adding experimental treatments for genetic metabolic disorders. Alexion will pay $610 million in cash upfront for Enobia, and as much as $470 million in addition if certain regulatory and sales goals are achieved, the Connecticut-based company said. The companies said they expect the deal to close in the first quarter of 2012.

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  • Canada-U.K. collaboration to focus on antibiotic resistance research

    2011-11-13 - Two Canada-U.K. research teams have been funded through the Canada/UK Partnership on Antibiotic Resistance, a collaboration between the Canadian Institutes of Health Research and the U.K. Medical Research Council. The partnership's aim is to stimulate high quality research on innovative alternatives to existing antibiotics. Both teams, composed of researchers from Canada and the U.K., will receive more than $7 million over four years from CIHR and MRC. They will be working to find new targets for antibacterial drugs and new ways to prevent or stop the spread of drug resistant infections in hospitals and other health care settings.

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  • Servier enters into Type 2 Diabetes partnership with Canadian firm Prognomix

    2011-11-09 - Les Laboratoires Servier, France, and Prognomix, Canada, announced that they have entered into a R&D agreement aimed at identifying novel targets as part of programs meant to develop innovative type 2 diabetes and metabolic disease treatment. As part of the agreement, Servier will make a contract signature fee payment and will be granted options to obtain rights to use the results of the collaboration.

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  • Merck completes $33.2M expansion of Pointe Claire plant

    2011-10-25 - Merck completed a $33.2 million expansion of its Pointe Claire facility in Quebec that will increase the plant's international competitiveness and preserve local jobs, according to the Montreal Gazette. A warehouse was built at the site and the company has installed manufacturing equipment at the plant which will enable it to make 14 new products. The facility is one of the locations in Merck's global network outside of the U.S. to have received QSP-2 certification from the U.S. FDA, which permits Canadian products to be exported to the U.S.

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  • Canadian, international institutions partner to invest in livestock genomics research

    2011-10-20 - Genome Alberta announced that it is leading a group of funding partners on two large-scale genomics projects which will help improve Canada's livestock sector. These projects build on Genome Alberta's Applied Livestock Genomics Program which was launched in Dec. 2010. The work will lead to new strategies for disease control in addition to new drugs, improved vaccines, and a safer food chain by reducing the use of antibiotics. Funders for the projects include Genome Canada, Genome Alberta, the Alberta Livestock and Meat Agency, PigGen Canada, Genome Prairie, an international consortium led by the U.S. Department of Agriculture, Western Economic Development, and a number of international agencies and organizations.

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  • Canadian scientists develop engineered virus that destroys cancer cells

    2011-08-31 - An engineered virus by Canadian scientists has shown that it can selectively target and destroy cancer cells in what researchers call a medical first. The findings, which were published in the journal Nature, showed that the genetically engineered virus only attacked cancer cells and left healthy tissue alone. Professor John Bell, lead researcher from the University of Ottawa, says he " believe(s) that someday, viruses and other biological therapies could truly transform (the) approach for treating cancer," said Bell. The new virus, named JX-594, is said to be considered a breakthrough because it doesn't have to be injected directly into tumours to avoid the immune system.

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  • Japan pharmaceutical company Eisai to establish headquarters in Mississauga

    2011-08-28 - Eisai Inc., a pharmaceutical company who's parent company is Japan-based Eisai Co., plans to establish its Canadian headquarters in Mississauga, creating 11 new jobs and protecting one other position with the help of the Ontario Government. Eisai’s expansion into Canada could increase access to a variety of therapies and medications, including treatments for advanced breast cancer, Alzheimer’s disease, and epilepsy. Eisai says it will also continue to invest in clinical trials in the province, supporting Ontario suppliers, both public and private research institutions and organizations.

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  • Roche to invest $200 million for Canadian research centre

    2011-08-16 - Swiss international biotech company Roche Holding AG, through its Roche Canada unit, said it will invest almost $200 million over the next five years at its Mississauga plant near Toronto, with a $7.8 million Ontario Government commitment. A new Mississauga research centre, with a staff of 200, will manage all Roche’s clinical trials for new drugs in co-operation with the multinational’s five existing world research centres.

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  • $344 million expansion for MaRS in Toronto to create 4,000 jobs

    2011-07-26 - Ontario's Research and Innovation Minister Glen Murray has announced the MaRS science complex in Toronto will double in size after a $344.5 million expansion. Hailing “some very creative leasing and financing arrangements with the private sector,” the minister said the 20-storey addition will create 4,000 construction jobs and enlarge MaRS to 1.5 million sq. ft. of offices and laboratories. The addition, which should be completed by fall 2013, will house the Ontario Institute for Cancer Research and Public Health Ontario’s central lab, which prevents and controls infectious diseases.

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  • Teva to expand pharmaceutical production in Ontario, create 20 new jobs

    2011-07-19 - Pharmaceutical company Teva Canada, whose parent company is Israel-based Teva Pharmaceutical Industries Ltd., announced it will expand its production while creating 20 jobs and protecting 182 jobs at its Stouffville, Markham and Scarborough plants. The company plans to upgrade its equipment, which will in turn increase production of generic prescription medication.

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  • Interview: West's future 'has to include manufacturing'

    2011-07-12 - British-based drug and health care company GlaxoSmithKline PLC CEO Andrew Witty was in Canada to launch an expansion of GSK’s plant just west of Toronto and was interviewed by The Globe and Mail. Witty says government support is important when deciding to build or expand research as it is a signal of a commitment to the partnership. During the interview, Witty stated that “(Canada has) a tremendous academic base. It has great output from universities, with a high degree of talent. It is obviously in the top echelon of medical research [and] clinician quality. So the foundations for a vibrant research environment are very good. The reform of intellectual property rights 20 years ago [also] really stimulated the growth of innovation and research.

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  • Intellectual capital and strong economy attract life sciences companies to Toronto, says PwC report

    2011-07-07 - Toronto's economy and intellectual capital are attracting major investment from the world's leading life sciences companies according to a recent PricewaterhouseCoopers (PwC) Cities of Opportunity report. Toronto also ranks second in intellectual capital and innovation according to the PwC report. “A strong, stable economy and a vibrant research and innovation environment are important considerations when companies make investment decisions,” says Patrick Draper, President & CEO of the Toronto Region Research Alliance. “That’s why the Toronto Region is an attractive location for life sciences companies to invest in global R&D and manufacturing operations.”

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  • Gold Leaf Awards honour Canadian biotech innovation

    2011-06-28 - BIOTECanada will present the 2011 winners of the prestigious Gold Leaf Awards to companies and individuals in Canada’s biotech industry, whose demonstrated innovation and financial success in 2010 reflect the contribution biotech is making to the global bio-economy. Among the honourees were Cardiome Pharma Corp, Allon Therapeutics, EnWave Corporation and Sanofi-Pasteur.

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  • Sanofi Pasteur opens $100M R&D centre in Canada

    2011-06-21 - Sanofi Pasteur announced a $101 million vaccine R&D facility at its Connaught Campus in north Toronto. The facility establishes the Connaught Campus as the North American Centre of Excellence in analytical and bioprocessing R&D for Sanofi Pasteur globally. It solidifies the Toronto site as a national strategic asset for the research, development and manufacturing of vaccines that protect public health - in Canada and around the world.

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  • A $40M pharma study to create 10 new jobs in Ontario

    2011-06-20 - Rx&D President, Russell Williams, made the statement to complement the announcement made on June 15 by Novartis Pharmaceuticals Canada Inc. of an investment of $40 million in APOLLO, a global clinical study to be led from Hamilton, Ontario. The investment will create 10 new jobs and protect another 25 existing jobs.

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  • A major investment by GlaxoSmithKline will advance innovation and manufacturing in Ontario

    2011-06-13 - Canada Pharma reports that the province of Ontario is helping GlaxoSmithKline expand its manufacturing facility in Mississauga. The move will result in new biotech jobs, creating up to 70 new jobs and protecting 300 existing jobs in the city. The company currently employs over 1,150 people in Ontario.

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  • Report: Canada to play an effective role in the global pharma market

    2011-04-25 - According to the report "Global Pharmaceutical Market Forecast to 2012," the global pharmaceutical market has been showing an impressive growth, despite the global economic slowdown. The report has found that the pharmaceutical market in Canada has been experiencing a good growth pattern for the past few years, with the country being the second-largest pharmaceutical market in North America and one of the most regulated pharmaceutical markets in the world. The country recorded pharmaceutical sales worth $22.57 billion in 2009.

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  • Novartis expands in PEI

    2011-04-03 - "The further expansion of the Prince Edward Island facilities of a major international bioscience company is evidence of the health of the bioscience sector in this province," says Innovation and Advanced Learning Minister Allan Campbell. Switzerland based Novartis has acquired a third building in Charlottetown to allow the company to strengthen its production and further augment its development activity on PEI.

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  • Quebec launches AmorChem fund to help bio-tech companies

    2011-02-20 - A new seed fund, AmorChem, was recently announced by the Charest government. The $41.25-million fund's goal isn't to subsidize new companies, but rather to invest in scientific research, and then to reap the benefits when that research is sold off. The government hopes the investments will boost Quebec's sagging venture capital industry. AmorChem will follow a new model of funding for biotech ventures. The fund will finance about 40 projects over the next five years.

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  • Merck invests $6.8M in research in Quebec

    2011-02-17 - Merck Canada recently announced a $6.8 million investment in AmorChem, a Quebec life sciences venture capital fund. This represents the latest investment made by Merck following a commitment made in 2010 to invest an incremental $100 million over five years in biopharmaceutical research and development in Quebec. AmorChem invests in biopharmaceutical research in Quebec.

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  • California's Always Best Care expands to Canada

    2011-02-14 - Always Best Care Senior Services, named by Entrepreneur magazine as the fastest growing Senior Care franchise system, recently announced its expansion into Canada. The company said it is expanding its quality home care and assisted living placement service to Canadians.

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  • Ontario attracts GEs new global Pathology Imaging Centre of Excellence

    2011-01-27 - HTX announced an agreement to establish GE's first global Pathology Imaging Centre of Excellence in Toronto. GE Healthcare and its digital pathology joint venture, Omnyx, will invest $7.75 million. Planned collaborative research and development partnerships will bring an additional $7.2 million, for a total investment of $17.2 million over the next 3 years.

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  • Merck Canada invests $5M in Quebec consortium for drug discovery to support biopharmaceutical research

    2011-01-26 - Merck Canada has renewed its partnership with the Quebec Consortium for Drug Discovery by investing a further $5 million over five years in the organization so it can continue its support of biopharmaceutical research in the province. The investment by Merck is part of its 2010 pledge to invest $100 million over five years in biopharmaceutical research and development programs with Quebec companies and academic and research institutions. The mission of the not-for-profit organization is to identify, finance and support co-operative research projects focusing on key enabling technologies for drug discovery and development.

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  • Genadyne Biotechnologies expands with new Canadian distribution center

    2011-01-18 - Genadyne Biotechnologies announced it will expand its services and products into the Canadian market. Headquartered out of Ontario, Genadyne Canada is bringing new products to the Canadian healthcare market. Genadyne Biotechnologies Inc. is a US based developer and manufacturer of negative pressure wound therapy systems, non-powered and powered pressure relieving therapeutic surfaces.

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  • Pfizer, Barry Callebaut expanding in Quebec

    2010-12-16 - The U.S. biopharmaceutical company Pfizer and Swiss chocolatier Barry Callebaut both announced that they will each invest in Quebec-based facilities. Pfizer is investing $22 million in its lead Canadian office in Kirkland. The money will fund an expansion and facility renovation, as well as modernizing equipment. The company will also create 100 jobs as part of the expansion. Callebaut will invest $20.6 million in its Saint-Hyacinthe facility. The company expects to retain 487 existing jobs and create 22 new positions in the next three years.

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  • Pfizer Canada expands with addition of workers

    2010-11-11 - Pfizer Canada said it will invest $22 million to revamp its Canadian headquarters in Montreal, at a time when rival pharmaceutical giant Merck Frosst is reducing its Montreal presence. Pfizer's redesign plans will bring workers from the company's Canadian biopharmaceutical and animal health head offices under one roof, bringing an additional 100 employees to the campus's staff of 600.

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  • Tokyo's Otsuka opens office in Canada

    2010-10-05 - Marking the continued growth of Tokyo-based Otsuka Pharmaceutical Co., Ltd. in North America, it was announced that Otsuka Canada Pharmaceutical Inc. (OCPI) has opened its first Canadian office, in the Montreal suburb of Saint-Laurent. "The opening of our Canadian operations is a very important milestone for Otsuka," said Mark Altmeyer, President and CEO of Otsuka America Pharmaceutical, Inc. "As an organization, we are committed to expanding our presence around the world to ensure we are able to live our mission of creating new products for better health worldwide."

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  • U.S. bioproducts company joins Saskatoon Research Hub

    2010-09-15 - The National Research Council of Canada (NRC) and U.S. bioproducts company Metabolix announced that Metabolix is setting up operations at NRC's Industrial Partnership Facility in Saskatoon. Saskatoon is the geographic centre for numerous oilseed activities, offering extensive research facilities and supporting infrastructure. Richard Eno, President and CEO of Metabolix said that his company looks forward to the growth of the operations at NRC-PBI and, more broadly, across Canada.

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  • Ontario leads in life sciences, ICT and automotive innovation

    2010-07-08 - It makes sense for growth-oriented companies to plant themselves where innovation thrives, where great minds have converged, and where the business climate encourages R&D. And it is said that Ontario is working hard to be that kind of place. Green energy, advanced manufacturing, life sciences and biotechnology, and information and communications technology all feed on Ontario's R&D. They thrive partly because of the province's talented work force and scientific community, and because of a tax structure that slashes companies' R&D costs. For specific example on how companies thrive in Ontario, please click on this headline.

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  • Mumbai-based Piramal Healthcare eyes buys in US, Europe, Canada

    2010-06-28 - Piramal Healthcare said it was planning acquisitions in the biotech space in the U.S., Europe and Canada in the next two to three years. Piramal recently sold its domestic drug business for $3.72 billion to U.S. pharmaceutical major Abbott Labs. "We want to collect a portfolio of small biotech companies abroad. One such acquisition was BioSyntech in Canada," Chairman Ajay Piramal said.

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  • Global pharma company Teva invests in Ontario

    2010-05-26 - Teva, a global pharma company, is investing $56 million to expand its Stouffville, Ontario production plant. The investment will help retain 182 high-skilled workers and hire 20 new employees. To make this possible, a partnership was announced with the office of Ontario's Premier Dalton McGuinty.

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