The PEI BioAlliance has released the Annual Report for 2022-23 (April 1, 2022 – March 31, 2023) with key highlights and milestones from the year. Our BioAlliance Annual Report presents an important opportunity to highlight the achievements and milestones accomplished by the dynamic and growing bioscience sector here in Prince Edward Island.
Thank you to the over 2,300 executives, scientists, technicians, support and operations staff in businesses, research and academic institutions, investment firms, and government agencies, who together as a community have made these achievements possible. Our bioscience cluster has already surpassed 2025 growth targets and is well on its way to becoming a billion-dollar industry by 2030. In 2021, private sector company revenues reached $575 million, a $200 million increase over 2020.
It is the combination of strong growth of the cluster’s larger companies and the commercial success of earlier stage companies which has been an excellent recipe for sustained development of the cluster. It has been truly remarkable to see the range of breakthrough technologies and products coming from our cluster companies that are bringing new solutions to global challenges in human, animal, and fish health. Collaboration and cooperation among businesses, academic and research partners, and governments at all levels continues to make PEI a great place to grow bioscience-based businesses.
Read the full report to learn more about the growing biosciences cluster in PEI.