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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 Behind the one billion investment dollars the biotechnology sector will receive this year are hundreds of stories of scientific and entrepreneurial expertise that are finally receiving due recognition. Biotech is on a roll, and the chances of success on many fronts have improved with recent initiatives by the federal and provincial governments to help ensure the necessary (and pricey) infrastructure is in place. The National Research Council is forging ahead to implement a new framework for biotechnology with a strong emphasis on wealth generation, while provincial administrations in Quebec, British Columbia, Saskatchewan and Alberta are aggressively supporting sectoral niches. And then there's Ontario. Following the 1994 release of a major report by the Biotechnology Council of Ontario, little has been heard about the sector. The Council's report conveyed a sense of urgency that pushed for a concerted strategy to ensure the province maintained its status as Canada's largest industrial biotech cluster. The response has been a thundering silence, and Ontario firms are beginning to talk with their feet by moving to more attractive locales. Witness the decision by Ontario-based Neurochem Inc to locate its headquarters in Montreal (see article). The Harris administration would be wise to accept the fact that the future engine of provincial growth is not the gas-powered piston, but the expert exploitation of knowledge in its many high-tech forms.
FEATURE REPORTS...
BIOTECH BOOM FUELS FLURRY OF INFRASTRUCTURE
NRC's BIOTECHNOLOGY INSTITUTES DEVELOP INTEGRATED FRAMEWORK
VISIBLE GENETICS CREATES NEW FIRM TO HELP EXPLOIT
TECHNOLOGY PARTNERSHIPS CANADA SUPPORTS RESEARCH
CARLETON UNIV LANDS RESEARCH CHAIR FOR APPLIED PARALLEL
CANGENE STRIKES DEAL WITH
QUEBEC POSTS FASTEST GROWTH FOR R&D
RESEARCH BRIEFS
Pharma firms support research for combinatorial chemistry Four Quebec-based pharmaceutical firms have joined with FCAR Fund (Fonds pour las formation de chercheurs et l'aide a la recherche) to inject $1.2 million into a collaborative project in combinatorial chemistry. Funds will be allocated to precompetitive research projects in several universities between 1997 and 1999, with the firm firms contributing $200,000 annually with matching funds from FCAR. The four firms are Astra Research Centre Montreal, BioChem Pharma Inc, Bio-Méga/Boehringer Ingelheim Research Inc and Merck Frosst Canada. Calls for proposals from research teams will be issued this fall, with the FCAR fund establishing a peer review committee with representatives from the participating firms. About 10 projects should be funded over the project's duration. Combinatorial chemistry permits the identification of new therapeutic agents, which participants hope will foster new technologies and a shorter development cycle for new medications....
Biomira raising $36 million through Yorkton Securities Biomira Inc has issued a short form prospectus to offer four million shares which should net the Edmonton-based biotech firm $36 million for use as general funds. Yorkton Securities Inc is underwriting the offering on a "bought deal" basis and may distribute a portion of the shares to accredited US investors. Earlier in 1996, Biomira raised $28.7 million with a five-million share issue to Yorkton Securities by Almira Capital Corp (R$, April 24/96)....
Theratechnologies inks deal for TH-9506 development Theratechnologies Inc has entered an agreement with Beaufour Ipsen Group (BIG) to further develop TH-9506, an analogue of 1-29, its pro-growth hormone-releasing factor. The deal calls for the French-based leader in medicinal peptides to finance toxicology tests and Phase I clinical trials this spring. At that time, BIG decide whether to exercise its option to acquire worldwide licensing rights to commercialize TH-9506. BIG also holds an option on the synthesization method developed by Dr Paul Brazeau, a co-discoverer of TH-9506 and Theratechnologies' project director. If the molecule is commercialized, BIG will initially use the new product for the treatment of patients suffering from cardiomyopathy and those requiring a maintenance dosage following prolonged treatment with growth hormone. Future uses will focus on diseases linked with the aging process. Earlier this year, Theratechnologies narrowed its focus exclusively towards biotechnology, shed two of its three founding firms and raised $6.75 million in additional capital (R$, August 21/96)....
Canadian Space Agency signs MOU with Chinese government The Canadian Space Agency has signed a memorandum of understanding (MOU) with China that outlines a framework for cooperation and several potential areas of collaboration. The MOU was signed earlier this month in Beijing with the Commission for Science, Technology and Industry for National Defense (COSTIND) and focuses exclusively on space collaboration for peaceful purposes. Areas of expertise include remote sensing, satellite communications and space robotics. Future collaboration can take place in the form of scientific exchanges, joint research and technology projects, exchange of scientific information and data, education and training, and conferences. COSTIND is a senior government department responsible for many aspects of the Chinese space program....
Survey underscores growing evidence of brain drain A survey of fourth-year students and alumni from the Univ of Waterloo bolsters growing evidence that skilled computer and electrical engineering graduates are accepting positions in US companies, contributing to the so-called "brain drain" of Canadian expertise. But it also found that considerable potential exists to repatriate those who have already moved south. The preliminary study was conducted by Jason George, a Wilfred Laurier Univ student, and released by the Canadian Advanced Technology Association (CATA). It discovered that: 77% of fourth-year students are willing to take US-based jobs, drawn by superior starting salaries, future salary opportunities, advancement potential and medical benefits. Nearly two-thirds of US-based alumni would consider returning to Canada, but those same alumni perceive a significant salary gap in their fields between the two nations. The study concludes that Canadian high tech employers need to reach further into the universities to develop relationships at an earlier stage. It also encourages industry and government to address the income gap to improve Canada's competitiveness....
U of T professor handed suspension for misconduct A Univ of Toronto medical faculty professor has received a six month licence suspension after pleading guilty to three charges of professional misconduct. Peter Alberti pleaded guilty to charges including inadequate supervision of medical students and residents, and inappropriate distribution of research funds. Alberti was head of the otolaryngology departments at the medical faculty, the Mount Sinai Hospital and Toronto Hospital. Charges are related to consulting work he did on noise-induced hearing loss for the Workers' Compensation Board. Alberti can reduce his suspension to one month by paying $100,000 to the Mount Sinai Hospital Foundation and $30,000 the Mount Sinai Hospital's otolaryngology department....
Phytogen Life Sciences issues initial public offering Phytogen Life Sciences Inc making an initial offering via an underwriting syndicate led by RBC Dominion Securities. It has completed a 2,200-sq-m bulk processing facility for paclitaxel, a drug used to treat certain cancers, and has teamed with Mylan Pharmaceuticals, a US-based generic drug firm in an exclusive licence and supply agreement....
PERSONALITIES
Yves Sanssouci has been appointed president and CEO of the Centre de recherche informatique de Montréal (CRIM), effective November 1. For the past two years Sanssouci has been DG Régie de la santé et des services sociaux de la Montérégie, and was previously DG of Cégep Edouard Montpetit for 13 years. He has extensive management experience and has been actively involved in technology transfer and training activities at the national and international levels. He will utilize these skills to bridge the gap between CRIM's industrial, academic and business partners....
David Main has been appointed VP corporate development at Inex Pharmaceuticals Corp responsible for evaluating and establishing commercial partnerships and building ties to the investment community. He was previously VP at QLT Phototherapeutics Inc, a member of its management committee and the team responsible for raising more than $100 million in Canadian and US equity financing. Main is a licensed pharmacist and holds a BSc (pharmacy) and an MBA from the Univ of British Columbia.... Theratechnologies Inc has appointed Luc Tanguay as its senior VP and CFO. Tanguay holds a masters of science degree from the Univ of Sherbrooke and a chartered financial analyst degree from the Institute of Chartered Analysts of Virginia. He was previously with Lévesque Beaubien Geoffrion as VP corporate financing, where he gained experience in corporate financing, especially of biotechnology firms. Also appointed is Joseph Musto as director regulatory affairs. He brings experience in regulatory matters gained from positions held with BioChem Pharma and Hoechst Roussel Canada.... Quebec premier Lucien Bouchard has appointed Jacques Ménard as chairman of Hydro-Québec. The vice-chairman of Nesbitt Burns Inc and its Quebec director accepted the five-year, part-time position two days after the appointment of André Caillé as the utility's CEO. Callié previously held the same title with Gaz Métropolitain Inc....
Applied PeR$pectivesBuilding with CCNB-INNOV… Relationships that go a Long Way! CCNB-INNOV, the applied research and development arm of CCNB has adapted its range of services to better meet the unique needs of the regional shipbuilding industry.
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