Best Practices
| By Ella Korets-Smith, TO Health! Frank Beraud, Montréal In Vivo Cedric Bisson, Teralys Capital
Canada poised to be best in world in life sciences sector Looks to Neighbours to the South for Best Practices
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hen thinking about symbols of Canadian pride, such things like hockey, maple syrup and our healthcare system spring to mind. There are many others to be sure, but a burgeoning life sciences sector that is taking root across the country is certainly one of which to be proud now, and well into the future. We’re a humble nation, and not necessarily one to promote the achievements happening in our own backyard, but in the case of the life sciences sector, we’re world-class. We have the talent and infrastructure in place, and the investment following quickly on its heels, to make us a verified breeding ground for start-ups. When it comes to biotechnology clusters in Canada, there are two star players – the greater Toronto and Montréal regions. Of course, Vancouver is also an emerging player. Toronto has more than 9,300 life sciences graduates annually, over a billion dollars invested in research
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funding at universities and partner hospitals, and is home to the headquarters of over 50 multinational pharmaceutical, medical device and health companies, over 800 home-grown companies and start-ups. Equally significant is the Montréal area, which offers over 40,000 jobs in the life sciences and health technologies sector, and represents over a third of the Canadian total in venture capital investment with $1.6 billion in a ten-year period. Both offer quick access to major global markets, and importantly, the corridor that connects them fosters the collaboration critical to identifying opportunities and solving challenges for the sector. With a record this impressive, the argument can be made that we should work together to actively promote our successes in this arena, while looking to other jurisdictions for best practices for continued and sustained growth. To that end, a panel discussion at BIO 2016 – the preeminent congress for the global biotech and pharma industry – sought to ad-
dress just this. What are the lessons Canada’s life sciences industry can learn from the California venture capital market? Despite the many successes in the Canadian market, challenges remain, particularly when it comes to risk capital. Our venture capital neighbours to the South, who have had ample success in this arena, shed light on how our market can evolve. A robust discussion from esteemed panelists netted four key takeaways for trends and considerations in the life sciences innovation marketplace. • Relationships in the life science sector, particularly the pharmaceutical industry, are ever evolving Today more than ever, there is an emphasized importance on early identification and engagement in opportunities that are by definition unpackaged and risky. Training entrepreneurs in the biotech industry early on and focusing on the value of early research is paramount to long-term investment and success. Furthermore, tuning in to key areas of interest beyond the immediate research community will ensure alignment of goals and foster innovation and investment. For example, oncology immunotherapy is currently of much interest to the academic, scientific, medical and venture capital worlds. The intersection of interest among the varied parties will ultimately be the drive for investment and the true measure of success.
