Government of Canada’s Biomanufacturing and Life Sciences Strategy will support the growth of a strong, competitive sector
Charlottetown, PE – The Prince Edward Island BioAlliance welcomes the Government of Canada’s announcement of a Biomanufacturing and Life Sciences Strategy. This strategy includes a commitment of $2.2 billion over seven years from Budget 2021 to continue growing a strong and competitive sector and to ensure Canada is prepared for future pandemics.
“Establishing a Biomanufacturing and Life Sciences Strategy for Canada demonstrates the Government of Canada’s support for strengthening bioscience and biotechnology capacity,” said Oliver Technow, Chair, PEI BioAlliance Board of Directors, and CEO, BIOVECTRA. “This strategy will ensure Canada has the resources in place, including the knowhow and infrastructure, to be more self-reliant in manufacturing and vital drug development. The bioscience sector will be a major contributor to economic recovery and growth.”
In parallel to the federal strategy, the BioAlliance recently launched their 2021-25 Strategic Plan, that will guide the work and planning needed to achieve the PEI cluster’s vision to be a leading force in Canada’s bio-revolution. BioAlliance goals for 2021-25 are to aggressively increase private sector revenue, employment, investment attraction, capital expenditures as well as spending on research and development, including $500 million in revenue by 2025 and $1 billion by 2030. The federal government’s strategy will enable regional leaders like the BioAlliance, including industry and academic partners, to execute on key priorities to grow the PEI cluster.
One of the key imperatives of the Strategic Plan is to establish the PEI cluster as a national biomanufacturing centre of excellence. Over the past several years, BioAlliance public and private sector partners have made a series of strategic investments valued at over $200 million to take a leadership position in providing bioprocessing infrastructure, expertise, and services to Canadian and international businesses. These initiatives have included major investments in bioprocessing equipment and infrastructure, including construction of the first Bioscience Manufacturing Incubator in the region, expansion of manufacturing facilities and expertise, establishment of the Canadian Alliance for Skills and Training in Life Sciences (CASTL) and the expansion of Emergence, Atlantic Canada’s Bioscience Business Incubator.
The Government of Canada’s Biomanufacturing and Life Sciences Strategy aims to grow a strong, competitive domestic life sciences sector, with cutting-edge biomanufacturing capabilities, while creating good jobs for Canadians, and to make sure Canada is prepared for pandemics and other health emergencies in the future. The strategy consists of five pillars:
- Strong and Coordinated Governance
- Laying a Solid Foundation by Strengthening Research Systems and the Talent Pipeline
- Growing Businesses by Doubling Down on Existing and Emerging Areas of Strength
- Building Public Capacity
- Enabling Innovation by Ensuring World Class Regulation
“The PEI cluster has implemented an ecosystem approach, through the partnership of governments, academic researchers, and private sector partners, who by working together are able to achieve more,” said Rory Francis, CEO, PEI BioAlliance.
The PEI bioscience cluster is growing at a rate that outpaces any other industry in the province. Now with 60 companies, seven research organizations, and employing 2,200 highly skilled individuals, the PEI BioAlliance has created an innovation ecosystem that has doubled its economic impact since 2016. In 2019, private sector companies earned over $260 million in revenue, attracted $38 million in new investment, and spent more than $100 million on new equipment and facilities.