NEWS RELEASE: BioNova supports the Government of Canada’s biomanufacturing and life sciences strategy
FOR IMMEDIATE RELEASE
July 30, 2021 [HALIFAX] — BioNova is proud to support the Government of Canada’s announcement of a federal biomanufacturing and life sciences strategy, led by Innovation, Science and Economic Development Canada (ISED). Post-pandemic, it is critical that all levels of government work to grow and support a competitive, domestic bio-manufacturing and life sciences sector. The sector is vital to our country’s economic recovery, sustained growth, and future public health emergency and pandemic readiness. BioNova shares a common goal with the federal government’s strategy and has been the regional point of contact for federal partners ISED to connect them with our regional health and life sciences companies as we work to advance made-in-Canada health solutions.
The Government of Canada has already invested over $1.2 billion in biomanufacturing and the development of COVID-19 vaccines and therapeutics. This included $9 million in investments to Dartmouth-based IMV Inc. through the Next Generation Manufacturing Canada supercluster, NRC IRAP, and ACOA, as well as $4.1 million investment in Halifax-based Sona Nanotech through the Next Generation Manufacturing Canada supercluster. Budget 2021 promises to continue this support through this new strategy, providing a total of $2.2 billion over seven years towards growing a vibrant domestic life sciences sector and improving pandemic preparedness.
Several of our member companies work within the biomanufacturing industry and applaud this national strategy, such as BioVectra and IMV Inc. A strong bio-manufacturing and life sciences ecosystem with the capability of domestic production and the support of all levels of government will provide substantial employment, and contribute to the overall protection of Canadians coast to coast.
Five key takeaways from the federal government’s announcement
The biomanufacturing and life sciences strategy will:
- Ensure the consultation of experts within the sector in federal biomanufacturing and life sciences decisions and consultations.
- Ensure that Canada is prepared for future health emergencies and/or pandemics through strong domestic manufacturing that will benefit all Canadians.
- Increase overall long-term employment of researchers and life sciences experts as they work to develop innovative products and services.
- Enhance the attractiveness of Canada’s life sciences sector on an international stage, encouraging more companies to establish here and increase our competitiveness.
- Generate a modern, effective, and safe regulatory environment that allows for rapid development and approvals.
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