MESSAGE FROM THE PRESIDENT AND CEO

by Andrew Casey, BIOTECanada

JUST A FEW KILOMETERS AWAY FROM THE SITE OF BIO 2023 STANDS KENDALL SQUARE, arguably the most recognized and envied biotech hub in the world. Not so long-ago, Kendell Square was an unremarkable and unloved stretch of inner-city real estate replete with abandoned warehouses and weeded parking lots. But the decision in the early eighties by several established biotech companies to relocate to the area, established the nucleus for the transformation of Kendell Square into a vibrant biotech hub which is now home to dozens of biotech companies of all different types and earning Kendall Square the moniker of ‘the most innovate square mile in the country’. The Kendall Square evolution demonstrates how valuable anchor companies can be as a foundational piece of a strong ecosystem.

With the investment in and implementation of a national biomanufacturing and life sciences strategy, similar provincial strategies and investments, and the significant advances made by several Canadian biotech companies over recent couple of years, there is now very good reason to be optimistic about the health and future of Canada’s biotechnology sector. Now is the time to leverage the investments and strategies to build Canadian anchor biotech companies which are globally commercial.

Canada has demonstrated a capacity for generating science and research which has led to the establishment of a diverse and vibrant national biotech ecosystem from which have emerged hundreds of early-stage biotech companies across the country. In terms of turning science into companies, Canada has done quite well, even punched above its weight. However, Canada has not yet succeeded in consistently translating its science, research, talent, entrepreneurship, and earlystage companies into globally commercial anchor companies. Indeed, Canada is the only advanced pharmaceutical market in the world without its own research-based anchor company.

Not all companies can or should become anchor companies. There are some technologies that are more suited to being developed to a certain stage and then either sold or licenced to a global biotech which has the marketing, sales, and distribution networks to serve patients. But for others, scaling up to become commercial anchor companies is exactly what they aspire to be, and what the ecosystem needs.

Probably more than at any other time, Canada is home to several biotech companies which offer significant promise of becoming globally commercial anchor companies (with dozens more following closely behind). With financing and talent secured, they are building infrastructure and driving their innovations forward. Successfully transforming these companies into anchor companies will attract additional companies, investment, and talent. Accordingly, an immediate goal for the industry and government alike must be to establish the conditions for not only growth but stickiness to ensure these companies succeed and stay in Canada. As Canada looks to rebound economically following the pandemic and prepare for the next global health challenge, a strong biotech ecosystem built on a foundation of anchor companies will be central to meeting both objectives.