Halifax to be Among Top Cities for Economic Growth This Year and Next

article in the Huffington Post Canada stated that Halifax will see some of the largest economic growth this year and next, coming in third after Vancouver and Toronto according to the Conference Board of Canada who makes the economic forecast. It is not often that Atlantic Canadian cities rank near the top and the article credits the city’s shipbuilding activity which is expected to keep the city on an upward track through 2017. The board also stated in its report that: “Halifax continues to reap the benefits of a diverse economy, as most sectors are expected to contribute positively to growth this year and next.” I believe one of those sectors will continue to be the life sciences, which is now a little bit of a “well-kept secret” to the broader community but those within it knows its strengths. Recent research by Entrevestor shows that twice as many life sciences companies formed in the past year than in the year before and already established companies have grown in leaps in bounds. Generating $300 million in revenues for the province and exporting up to 90% of products, the sector offers a strong and sustainable economic strategy. The industry has also been fostering valuable collaborative relationships with BioNova signing Memorandum’s of Understanding with two national associations, Innovative Medicines Canada to accelerate the development of local pharmaceutical companies and MEDEC to leverage our regional strengths in medical technologies. BioNova, as the leader for development in the sector, recognizes the important role it plays in Nova Scotia’s economic growth which is why we are developing and implementing a Strategic Growth Plan that focuses on how we intend to educate, accelerate and lead life sciences to become one of the pillars of Nova Scotia’s economy. Halifax and Nova Scotia has the infrastructure, the talent and the heart for continued support of a strong and globally competitive life sciences sector and I am certain our time for recognition within the province is not far behind. All the best, Scott Moffitt Managing Director, BioNova]]>

BIOMEDICA DIAGNOSTICS: BioMedica Diagnostics has acquired the specialty coagulation business and product line from Sekisui Diagnostics

See original story here We are pleased to announce today that BioMedica Diagnostics (BMD) has purchased the specialty coagulation business and product line from Sekisui Diagnostics (SDG). The agreement includes all aspects of the business worldwide. In conjunction with this agreement, BMD will also acquire the American Diagnostica trademark. Both BMD and SDG are committed to a seamless transition where maintaining exceptional product quality and the highest service levels for all customers and partners are our top priorities. The agreement closed as of December 1 st , 2016 and from this time forward BMD will be responsible for the operation of the business. Established in 1999, we are a diagnostics company with a focus on providing customized diagnostic solutions in human and animal health. The acquisition of these assets is a natural fit to further solidify our foundation in thrombosis and haemostasis and expand our reach in specialty coagulation. We look forward to continuing to serve customers with the outstanding level of quality and service that partners have come to expect from BMD and SDG. For more information about BioMedica Diagnostics or to purchase products, please contact Nadine Williams at +1-902- 798-0982 or nwilliams@biomedicadiagnostics.com.]]>

BioPort 2016: Succeeding as an entrepreneur with Dr. Pravin Chaturvedi

“If you ask for advice, you will receive money. If you ask for money, you will receive advice.” This was just one of the gold nuggets Dr. Pravin Chaturvedi offered to BioPort Atlantic conference attendees during his keynote speech late last month.  With over 25 years of experience in the pharmaceutical industry, multiple successful entrepreneurship endeavors under his belt and as a self-proclaimed “Agent Provocateur”, he was not scared to share his opinions and realities on the entrepreneur/investor relationship and how to successfully navigate them to build life sciences enterprises. I heard a great quote this fall from a speaker at a BioNova Boost session: “Companies don’t succeed, entrepreneurs succeed” (Kevin Talbot, Relay Ventures). According to Bloomberg, 8 out of 10 entrepreneurs fail and Dr. Chaturvedi offered up his list of the top 10 mistakes entrepreneurs make to help you avoid these missteps and create a successful company:  

10. Failing to understand the real business opportunity 9. Failing to appreciate and address competition 8. Building upon the wrong structure 7. Assembling the wrong team 6. Being unrealistic 5. Over-valuing the business at critical junctures 4. Allowing mole hills to grow into mountains 3. Failing to maximize your competitive advantages 2. Assembling the wrong investors 1. Failing to manage expectations with investors

  A recent Entrevestor article stated life sciences is the second largest innovation sector in our region, with 13 life sciences companies forming in 2016, compared with six in 2014. This shows we have a strong entrepreneurial spirit and we, at BioNova, want to see a strong success rate because success not only impacts each company individually but our economy. If you are a life sciences entrepreneur and have questions on how to get started or how to build your high growth business, BioNova has the expertise and knowledge to help accelerate and drive your business forward. All the best, Scott Moffitt Managing Director, BioNova   References Chaturvedi, P. (2015) BioPort Keynote address Moreira, C. (2016). Fostering Life Sciences Companies in NS. http://entrevestor.com/ac/blog/fostering-life-science-companies-in-ns/ Wagner, E. (2013). Five reasons 8 out of 10 business fail. Forbes. http://www.forbes.com/sites/ericwagner/2013/09/12/five-reasons-8-out-of-10-businesses-fail/#6391a2905e3c]]>

New US $500 Million Global Health Sciences Venture Fund to be Based in Vancouver

here “The decision to make Vancouver the headquarters for Quark Venture and the Global Health Sciences Venture Fund, validates Canadian innovation, the strength of the life science industry here and the quality of its technologies.” Karimah Es Sabar, CEO of Quark Venture Quark Venture and China’s GF Securities Company Limited announced today they are jointly establishing a new US$500 million global health sciences venture fund to be based in Vancouver, BC. The fund, the largest of its kind in Canada, will invest globally in a diversified portfolio of innovative biotechnology and health sciences companies. Investments have already started with the first close of US$100 million. “This partnership will capitalize on Quark Venture’s strong, experienced, globally connected team with its track-record in technology sourcing, screening and commercialization, as well as on GF Securities’ integrated strengths in investment, capital solutions, biotechnology IPO listing and expertise in China’s biomedical industry,” said Mr. Lin, Chief Executive Officer of GF Securities. “Our goal is to build a diversified portfolio by investing in the best in the world biotechnology and health sciences companies that are driving game changing innovations in drug development, medical devices, health IT and emerging convergent technologies,” said Karimah Es Sabar, the recently appointed Chief Executive Officer at Quark Venture. “The decision to make Vancouver the headquarters for Quark Venture and the Global Health Sciences Venture Fund, validates Canadian innovation, the strength of the life science industry here and the quality of its technologies. We anticipate that internationally competitive Canadian companies will do well having a fund of this size and calibre at their doorstep, and we believe such a fund will energize the sector and be a magnet for further capital.” “GF Securities has a strong commitment to build and diversify their portfolio by sector and geographically. Our visions are aligned and we see this as a long-term collaboration,” said Jesson Chen, Chairman of Quark Venture. Last week Quark Venture announced a US$30 million investment in Vancouver-based Methylation Sciences Inc., a clinical-stage pharmaceutical company, that is advancing a therapy for treatment of Major Depressive Disorder.]]>