Competitive advantages combined with new government policy create near-term investment opportunities in western Canada
The pandemic has created a catalyst for Alberta to establish itself as a leading destination for investment into biotechnology and pharmaceutical R&D and manufacturing. Alberta biotech companies and researchers rose to the challenge when they heard of the fast-spreading COVID-19 virus in early January 2020. Many biotech organizations pivoted quickly to throw the bulk of their resources to addressing the emerging crisis. Within a year, there were seventeen proposals for vaccines out of the University of Alberta and today, two Alberta companies have developed vaccines that are now entering clinical trials.
The Governments of Alberta and Canada are responding by making investments to support vaccine development and grow domestic manufacturing capacity. The Edmonton Metropolitan Region in Alberta, Canada is well-positioned to be a state-of-the-art integrated biotechnology and pharmaceutical hub for vaccine production for this and future pandemics. The region has a strong network to support research and development and commercialization of new medicines. Some of the Edmonton Metropolitan Region’s key strengths for biotechnology and pharmaceuticals include:
These competitive advantages, combined with recent announcements from both the provincial and federal governments, mean it’s the perfect time to invest in biotechnology and pharmaceuticals in the Edmonton Metropolitan Region.
An emerging opportunity
“Alberta has the building blocks to actually build out a legitimate, credible pharmaceutical industry and vaccine development industry, all the way from development to production,” said Alberta’s Jobs Economy and Innovation Minister, Doug Schweitzer in a recent oped in the National Post. Over the next several weeks Edmonton Global will be hosting a series of online discussion forums spotlighting current investment opportunities and specific aspects of our competitive advantage including:
Our first conversation will take place on Monday March 22 at 12:00MDT and will be livestreamed on our social media channels (LinkedIn,Twitter, Facebook).
We’ll be chatting with Applied Pharmaceutical Innovation’s CEO, Andrew MacIsaac as well as representatives from two Alberta companies that are developing COVID-19 vaccines – Dr. John Lewis, founder and CEO, Entos Pharmaceuticals and Dr. Jared Davis, President, Providence Therapeutics. Be sure to follow us on social media (LinkedIn,Twitter, Facebook) to keep up to date on these upcoming events.
Learn more about the opportunities in the life sciences sector in the Edmonton Region.