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reports and analyses of the forces driving science and technology investment in Canada
editor: Mark Henderson How it looks to me.... by Mark Henderson FEATURE REPORTS | RESEARCH BRIEFS | PERSONALITIES How it looks to me.... by Mark Henderson, editor, RE$EARCH MONEY The Finance department's decision to repeal several onerous provisions of its legislation governing labour-sponsored venture capital corporations (LSVCCs) comes not a minute too soon. As suppliers of risk capital to innovative firms, LSVCCs were facing a severe shortage of capital following the government's 1996 decision to clamp down on the benefits offered to investors. Uninformed pundits have often criticized the funds as excessively subsidized at public expense, tarring the many with the actions of a few. But they failed to delve deeper to discover the many success stories spawned by this unique tool of economic development. Whether the sector is information technology or advanced manufacturing, small- and medium-sized businesses are using the funds to great advantage. But as our story in a related article explains, the changes likely won't restore the industry to full health. Fund managers are still encouraged, however, and are willing to wait through the upcoming RRSP season before assessing the impact of the new legislation. Perhaps most encouraging is the new open-door policy being offered by Finance. With the opportunity for ongoing dialogue, most are confident that equitable and fair legislation will emerge. For an industry that's had its fair share of knocks and negative publicity, a new era may be about to unfold, with young innovative firms being the ultimate beneficiaries.
FEATURE REPORTS...
RESEARCH BRIEFS
Terry Fox Foundation commits $36 million to cancer research The Terry Fox Foundation is investing $36 million in cancer research through its new Terry Fox New Frontiers Initiative. Twelve awards totalling an average of $4 million each will be allocated annually over the next eight years by the National Cancer Institute of Canada. The focus of the new program will be on increased innovation and risk, targeting ideas firmly founded in current knowledge but requiring increased innovation and risk. Successful proposals must also offer the prospects of break-through results within 3-6 years and provide linkage of researchers with different skills.
Novartis funds major clinical trial for breast cancer treatment Novartis Pharmaceuticals is bankrolling a Canadian-led international clinical trial for the anti-estrogen drug Femara. Led by the National Cancer Institute of Canada, the $20-million trial was designed and conceived by Dr Paul Gross, head of breast cancer at the Princess Margaret Hospital and Toronto Hospital. The double blind trial will involve 2,400 women in 20 countries who are post-menopausal with breast cancer and have completed five years of Tamoxifen therapy after surgery for their tumours. It has been found that Tamoxifen is only effective for the first five years after surgery and then may actually increase the risk of breast cancer recurrance. Manufactured by Novartis, Femara is an aromatase inhibitor which reduces the amount of estrogen in the body. It has already been approved by Health Canada for treatment of advanced breast cancer in post-menopausal women with disease progression following anti-estrogen therapy....
SED scores big with $23-million ESA antenna contract SED Systems Inc has been awarded a $23-million contract from the European Space Agency to provide a 35-metre antenna system as part of its ROSETTA program, under which a spacecraft will be launched in 2003 to rendezvous with the comet Wirtanen in 2012. The contract was coordinated through the Canadian Space Agency's CANADA-ESA Partnership Program. The antenna will be installed in Perth, Australia in late 2001. SED is a wholly-owned subsidiary of Calian Technology Ltd, Ottawa, and will be leading an industrial team comprised of firms from Germany, France, USA, Finland, Italy, Spain, Switzerland and Australia....
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Simon Fraser ranked number one for technology transfer Simon Fraser Univ has been ranked North American's most effective research institution based on technology transfer activity, according to a recent US poll. Conducted by the newsletter Technology Access, the poll ranked institutions according to the number of start-up or spin-off companies per $10 million of total research money. SFU achieved a 3.28 score based on US$17.2 million in research funding (as of 1996) and 17 spin-off or start-up firms. Close behind was the Univ of North Carolina (3.01), followed by Brigham Young Univ (1.51). Of the 50 institutions included in the survey, the Univ of Alberta ranked fifth (1.06), and the Univ of British Columbia ranked seventh (0.71)....
PERSONALITIESAndrew Baum has been appointed president/CEO of SemBioSys Genetics Inc, in a move to broaden the firm's management as it focuses on becoming a leader in molecular farming. Baum comes to SemBioSys from Monsanto Co, where he was director of business development. He has also served as president of Calgene Inc's oilseeds division. The appointment is supported by Dow AgroSciences Canada Inc, which is an active minority shareholder in the Calgary-based firm. Baum replaces company founder Dr Maurice Moloney who is stepping aside to focus his efforts on R&D. Moloney invented the company's proprietary technology which permits specific protein production in oilseeds for products such as enzymes, pharmaceuticals and nutritional products (R$, July 8/98).... Alcan Aluminium Ltd has realigned its management team in a bid to increase its bottom line by $450 million by 1999 (from a 1996 base). Those affected by the changes are: Claude Chamberland, who moves from executive VP smelting and power to become executive VP technology and major projects. Emery Leblanc becomes executive VP alumina and primary metal after serving as executive VP raw materials and chemicals. Robert Ball now has responsibility for Europe and worldwide rolling manufacturing systems and related technologies, as president of rolled products Europe. Ball was previously executive VP corporate development and technology.... Dr John Creange has been appointed VP R&D of LifeTECH Corp, completing the rebuilding of the Toronto-based firm's management team. Creange comes to LifeTECH after 10 years as an associate with Research Corporation Technologies, Tucson AZ, a large technology transfer company and joint venture partner in Canadian-based Milestone Medica Corp. Creange has a PhD in Zoology from the Univ of California and worked as a post-doctoral fellow at the UCLA Brain Research Institute.... Overall, he has 25 years experience in the areas of pharmaceuticals, antibodies, immunology, medical instrumentation, infectious diseases, immunohematology, clinical chemistry and biotechnology licensing and commercialization.... Michel Béland has returned to Environment Canada as research director after a four-year stint with the Centre de Recherche en Calcul Appliqué (CERCA) While at CERCA, Béland was both director and a member of the board of directors....
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