BioVectra Inc. announces a $144.6 million expansion project, including a $37.5 million contribution through the Government of Canada’s Strategic Innovation Fund
— Prime Minister Justin Trudeau visits BioVectra to announce Government of Canada investment in Atlantic Canadian CDMO and high-skilled jobs creation in the region —
Charlottetown, Prince Edward Island, Canada (March 4, 2019) – Today, BioVectra Inc., an Atlantic Canadian Contract Development and Manufacturing Organization (CDMO), announced a five-year, $144.6 million (CAD) expansion project to enhance its Biopharmaceutical capabilities in both Charlottetown, Prince Edward Island and Windsor, Nova Scotia.
Prime Minister, Justin Trudeau, visited BioVectra in Charlottetown to announce a $37.5 million contribution from the Government of Canada through the Strategic Innovation Fund (SIF). The $37.5 million contribution represents the single largest SIF Project ever awarded in Atlantic Canada.
“Thanks to innovations in life sciences, Canadians are living longer, healthier lives than ever before. Canadian companies like BioVectra are creating new jobs and establishing themselves as global leaders in producing lifesaving treatments for serious illnesses that affect millions of people around the world. Today, we are not only investing in an innovative Canadian business, but also in Canadians and the future prosperity of our country.” – The Rt. Hon. Justin Trudeau, Prime Minister of Canada
More specifically, the project is intended to support BioVectra’s on-going Active Pharmaceutical Ingredients (APIs) production capacity expansion in Charlottetown, as well as an expansion of its Biologics capabilities in Windsor, including a mammalian cell culture facility.
Over the project’s five-year lifespan, 150 high-skilled, full-time jobs are expected to be created on Prince Edward Island and in Nova Scotia. “We are pleased to announce plans to create 150 additional jobs, 110 to be located at our Windsor site and 40 in Charlottetown,” said BioVectra President, Oliver Technow. “This is an extremely proud day for BioVectra, and we are deeply appreciative of the government’s support. Since 2015, we have invested approximately $25 million per year in expansions and technologies that have vastly enhanced our capabilities. Today’s announcement is a continuation of our commitment to growth right here in Atlantic Canada!”
As a trusted and innovative partner, BioVectra’s global client base includes most of the top 20 biopharmaceutical companies in the world. “Our clients develop important, life-saving medicines for people all around the globe,” said BioVectra’s Windsor General Manager, Heather Delage. “This exciting expansion project is designed to help propel us toward being a top-tier player in the biologics field, where many therapies are advancing rapidly, and changing the way healthcare is delivered.”
Beyond these expansion plans, BioVectra intends to complement its existing academic partnerships by forming additional collaborations with Canadian academic institutions. This investment includes reinforcing its future talent base by providing over 25 students with on-the-job training and internship opportunities on an annual basis.
BioVectra is a CDMO that serves global pharmaceutical and biotech companies with full-service cGMP outsourcing solutions for intermediates and active pharmaceutical ingredients. An innovative and reliable service partner with a strong regulatory history, BioVectra has over 45 years of experience specializing in:
For more information about BioVectra, please visit www.biovectra.com.
Communications and Marketing Manager
Phone: 902-566-9116 ext. 6376
Statements in this document that are not strictly historical, including statements regarding future business prospects, use of capital or the impact of any such events or developments, and any other statements regarding events or developments the company believes or anticipates will or may occur in the future, may be “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. The forward-looking statements made herein speak only as of the date hereof and the company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise, except as required by law.]]>
- cGMP Microbial Fermentation
- Complex Chemistry – High Potency APIs
- Formulation Development
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Co-founder, president and CEO, Spring Loaded Technology
Bringing bionic technology to sports enthusiasts and putting a spring in the step of people with knee injuries
What happens when a neuroscientist, an engineer and a business student take an entrepreneurship class together? They create a bionic knee, of course. Halifaxbased Spring Loaded Technology was created in 2013 by a trio of knee-injury sufferers: Chris Cowper-Smith (the scientist); Bob Garrish (the engineer); and, Shaw Kewin (the business student). The trio’s communal pain inspired Cowper-Smith to create a brace “that could assist with mobility, rather than just providing stability.”
The basis of Spring Loaded Technology is the spring inside: “We just had the small task of reinventing the spring,” Cowper-Smith explains nonchalantly. After four years of development and prototypes, they created a compact spring small enough to fit inside a conventional knee brace. The Levitation bionic knee brace hit markets in 2016 with a sales model focused on selling directly to the consumer through digital advertising. Upon determining the user is a good candidate for getting the spring back in their step, a bracing specialist works with them remotely to measure for the right fit.
Next came the million-dollar contract with the Department of National Defense in which they produced 190 military-grade knee braces for the Canadian Forces. The yearlong pilot project concluded with positive reviews from injured military members and the company hopes to be supplying braces in forthcoming contracts. In the summer of 2017, they received $2.45 million in funding through ACOA’s Atlantic Innovation Fund, which they are using to build a human factors testing lab to assess actual usage of the brace. Currently the Levitation is 100 per cent assembled onsite by the company in Dartmouth’s Burnside Industrial Park: the only part brought in is the brace’s casing.
For Ontario ex-pat Cowper-Smith (Garrish and Kewin are no longer with the company), the transition from scientist to CEO has been a challenging endeavor: “There’s always that little bit of uncomfortableness, a discomfort, with being a little bit out of your realm,” he says. For him the key lies in creating support, and not just with the knee brace. Reinforcing the company’s leadership team has been at the forefront of his agenda: “There’s been incredible support in the community, and we’ve managed to attract some people who are a lot smarter than me that help me fill in the holes.”
“I think a background in science can be really useful for an entrepreneur starting a company, because ultimately what you are trying to do as an entrepreneur, at least in startup, is do a lot of different rapid experiments to figure out how this business is going to work,” says Cowper- Smith.
It looks like 2018 will be an aggressive scaling-up year: four of the 33 employees are currently setting up temporary sales locations across the country. The U.S. and international markets are next.]]>
About Keryx Biopharmaceuticals, Inc.
Keryx Biopharmaceuticals, Inc., with headquarters in Boston, Massachusetts, is focused on the development and commercialization of innovative medicines that provide unique and meaningful advantages to people with kidney disease. The Keryx team consists of approximately 200 committed people working with passion to advance the care of people with this complex disease. This dedication has resulted in two FDA-approved indications for Keryx’s first medicine, Auryxia® (ferric citrate) tablets. For more information about Keryx, please visit www.keryx.com.
BioVectra is a CDMO that serves pharmaceutical and biotech companies with full-service cGMP outsourcing solutions for intermediates and active pharmaceutical ingredients. An innovative and reliable service partner with a strong regulatory history, BioVectra has over 45 years of experience specializing in: GMP Microbial Fermentation & Purification Complex Chemistry Process & Analytical Development
For more information about BioVectra, please visit www.biovectra.com.
Marketing and Communications Manager
902-566-9116 ext. 6376
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Encyt Technologies, Inc., a leading biotech cancer research organization based in Nova Scotia, Canada, recently filed a series of patents for novel treatments to reverse resistance to immunotherapy using checkpoint inhibitors.
According to Dr. William Harless, MD/PhD, and Encyt CEO: “ENCYT has been studying the expression pattern of a number of distinct cytokines following cancer treatments such as surgery and chemotherapy. Based on these patterns, we have been experimenting with therapeutic strategies to block this response as a rational treatment approach to cancer. Working with our collaborating scientists at Queen’s University, we are excited to report that our proprietary therapeutic approach has proven to be very successful at mitigating the development of drug resistance and metastasis in a very difficult to treat human pancreatic cancer cell line implanted into a heterotopic mouse xenograft model.” Dr. Harless went on to explain, “We think our current therapeutic approach may also prove effective as an adjuvant therapy with immunotherapy. This treatment can reverse a mesenchymal phenotype that is often predictive of resistance to these checkpoint blockers. Furthermore, three of the key oncogenic signaling pathways up-regulated in cancer patients who are resistant to checkpoint inhibitors are targeted using our therapeutic approach.”
Immunotherapy treatments with checkpoint blockers have proven to be game changing cancer treatments in a number of different cancers. But only a minority of patients will respond to these treatments, and most patients who initially respond to these treatments eventually become resistant. ENCYT has filed an additional two patents to protect their novel therapeutic strategy as an adjuvant treatment approach that might allow more patients to benefit from these often highly effective cancer treatments.
Encyt is currently seeking regulatory approval from Health Canada to conduct a clinical trial testing our therapeutic approach for the treatment of advanced Pancreatic Cancer. Please follow the company’s continued progress at www.encyt.net
About Encyt Technologies, Inc.
Encyt Technologies, Inc. is an early stage cancer research organization focused on developing novel therapies for the treatment of cancer. The company has developed novel approaches to blocking post-treatment metastatic cancer stem cell proliferation, drug resistant phenotype development and adjunct Immunotherapy enhancement therapies. The company was founded in 2014 and is based in Nova Scotia, Canada. Encyt is funded by a small group of private investors and has received additional funding support from the Atlantic Canada Opportunities Agency (“ACOA”), the National Research Council of Canada (“NRC”), and other private philanthropic organizations.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Encyt Technologies, Inc. to be materially different from the statements made herein.]]>