Plan is first of kind for province

TORONTO, June 23 – An economic strategy to ensure the sustainability and success of Ontario’s commercial bioscience sector was announced today. Implementation of the strategy is underway, according to OBIO™, the CEO-led industry organization.

Developed by multi-stakeholder Ontario Bioscience Economic Strategy (OBEST™) teams in seven regional bioscience clusters, the strategy comprises nine priority initiatives. Of these, five are for implementation by the industry; four will be implemented by the industry partnering with government.

Dr. Daniel Billen, Chair of the OBEST Advisory Board and General Manager,
Amgen Canada, said: “We have put the onus on our industry to implement this strategy and on government to put supportive policies in place. Together, these will enable Ontario’s bioscience companies to complete the virtuous cycle of economic growth, jobs and improved health for all.”

Gail Garland, President and Chief Executive Officer, Ontario Bioscience Industry Organization (OBIO) said: “Regional governments throughout North America and globally have been prioritizing innovation–based economic development for over a decade. Successful ones are those in which industry takes the lead in identifying strategic priorities and implementing specific actions that drive change.”

The five strategy initiatives for industry implementation are:
1. Education in and awareness of Ontario’s bioscience sector, the value of innovation, and in entrepreneurship;
2. Building and expansion of the pool of investors and partners;
3. Building interconnectivity among Ontario small and medium-sized enterprises;
4. Defining industry priorities, and
5. Encouraging “patient” (long-term) capital.

Strategic initiatives to be implemented by the bioscience industry in partnership with government are:

1. Identification of and investment in provincial health priorities;
2. Ensuring and clearly demonstrating integrity of process in making decisions that affect Ontario’s bioscience industry;
3. Using provincial purchasing power to drive the market, and
4. Modification of government incentives for industry for rapid access to and deployment of existing funds, and to ensure the industry’s competitiveness globally.

More than 200 executives representing all stakeholder organizations – bioscience companies, research institutions, government, universities, patient-support organizations, and venture capitalists– contributed more than 5,000 volunteer hours to develop the strategy. This marks the first occasion in Ontario that a universe of stakeholders has volunteered time to work collaboratively on a strategy for building an industry that delivers health and economic wellbeing to Ontarians.

The seven regional bioscience clusters represented are: GTA Central; GTA North; GTA West; South Central Ontario; Western Ontario; Eastern Ontario, and Northern Ontario.

About OBEST

OBEST was established by OBIO as a forum for attracting the many insights of stakeholders to advance Ontario’s health-science sector and develop it into an economic engine for the province. Two groups form OBEST, an Advisory Committee and regional discussion groups led by bioscience CEOs. Each group comprises all stakeholders in Ontario’s health-science industry and is responsible for building the economic strategy to ensure a commercially viable and competitive bioscience sector in the province.

About OBIO
Ontario Bioscience Industry Organization (OBIO™) is Ontario’s leading advocate for the life-science sector. A private sector, membership-based organization, OBIO engages in policy advocacy and government relations activities to enable successful development and commercialization of life-science technology through investment, strategic alliances, stakeholder engagement and industry promotion.
OBIO is supported by Members and Sponsors, among whom are Amgen Canada, AstraZeneca Canada, BDC, Eli Lilly Canada, Gowlings LLP, HealthComm, Merck, Norton Rose LLP, Novartis Canada, Pfizer Canada, PricewaterhouseCoopers, Purdue Pharma Canada, RBC Royal Bank, Sanofi, Torys LLP.

Further information, contact: Gail Garland, OBIO, at 416-575-7805 or gailgarland@obio.ca or Joan Lister, HealthComm (416)994-3806 or lister@healthcomm.ca

TORONTO, June 9 – A new economic strategy team comprising representatives of major stakeholder groups in Ontario’s life-sciences sector will develop and direct a plan for robust growth and commercial viability of the province’s bioscience industry. The team, Ontario Bioscience Economic Strategy Team (OBEST™) is being established by Ontario Bioscience Industry Organization (OBIO™), the council of chief executive officers of Ontario-based bioscience companies.

Major stakeholders in Ontario’s life-sciences sector include biotechnology companies, universities and colleges, research institutes, healthcare providers and hospitals, pharmaceutical companies operating in Ontario, and the financial community. The need for an overall strategic vision, embracing all stakeholders, to promote growth and commercial viability of the province’s bioscience industry emerged in 2009 from OBIO’s regional and online consultations.

The Ontario Ministry of Research and Innovation’s recently-announced new commercialization strategy provides one-time special financing of $7 million exclusively for Ontario-based bioscience companies to advance their programs for treating, diagnosing or preventing disease. OBIO’s Access to Capital Committee has recommended that this money be urgently deployed to those companies. Ontario spends more than $5 billion a year on drug therapies and devices, most of which are imported.

Gail Garland, president and chief executive officer, OBIO™, said: “Bioscience is one industry that can move Ontario beyond its manufacturing roots to a knowledge-based economy that grows jobs, creates economic prosperity and enhances the health of Ontarians. OBEST™ will build on the Ontario government’s initiatives to facilitate and accelerate the creation of a sustainable and productive bioscience economy.”

Dr. David Young, chair, board of directors of OBIO, described OBEST™ as a forum for eliciting the many insights of stakeholders to advance Ontario’s life-sciences sector and develop it into an economic engine for the province: “Like the innovative society referenced in a recent issue of The Economist,” he added, “an innovative industry hedges its bets by having as many thoughts and thinkers as possible.  This is the goal of the OBEST™ process.”

About OBIO

Ontario Bioscience Industry Organization (OBIO™) is Ontario’s leading advocate for the life-science sector. A private sector, membership-based organization, OBIO™ engages in policy advocacy and government relations activities to enable successful development and commercialization of life-science technology through investment, strategic alliances, stakeholder engagement and industry promotion in Ontario. OBIO™ is supported by Members and Sponsors, among whom are Amgen Canada, AstraZeneca Canada, Dalton Pharma Services, Dalton Medicinal Chemistry, The Equicom Group, Gowlings, HealthComm, Merck Frosst, Pfizer Canada, PricewaterhouseCoopers, Purdue Pharma Canada, RBC Royal Bank, Rx & D and VWR.

For further information:

Gail Garland, President & CEO – (416) 575-7805, gailgarland@obio.ca;

Cathy Carter, HealthComm – (905)338-0825

Province responds to recommendations of Ontario Bioscience Industry Organization (OBIO) council of life-science sector chief executive officers

TORONTO, April 30 – A new commercialization strategy providing access to an initial round of special financing from the Government of Ontario will help the province’s bioscience companies fund advancement of their programs to treat, prevent and diagnose disease. Ontario spends more than $5 billion a year on drug therapies and devices, most of which are imported.

Initial one-time special financing of $7 million exclusively for Ontario-based bioscience companies is being provided by the Government of Ontario. OBIO is recommending that eligible companies be permitted to match this money with funds from other investors, giving it the potential to make this a $14-million financing.

These new commercialization and financing initiatives respond to OBIO’s report, “Industry Generated Recommendations for Sustainability and Growth of Ontario’s Bioscience Industry in 2010 and Beyond”, presented to the province in 2009. The report  resulted from a series of regional CEO-working groups and online consultations, and has been the basis for discussions between OBIO, senior public servants and MPPs in 2010.

Gail Garland, president and chief executive officer, OBIO, said: “We are grateful to the Ministry of Research and Innovation for its swift response to support Ontario’s bioscience industry with urgently needed funds. OBIO has developed proposed guidelines for deployment of these funds with the advice of finance-industry experts and bioscience-company CEOs.”

OBIO’s guidelines for disbursing the initial financing round were developed at the request of the Ontario government. The guidelines cover recommendations for eligibility, investment, and administration, approval and due diligence.

About OBIO

Ontario Bioscience Industry Organization (OBIO) is Ontario’s leading advocate for the life-science sector.  A private sector, membership-based organization, OBIO engages in policy advocacy and government relations activities to enable successful development and commercialization of life-science technology through investment, strategic alliances, stakeholder engagement and industry promotion in Ontario. OBIO is supported by Members and Sponsors, among whom are Amgen Canada, AstraZeneca Canada, Dalton Pharma Services, Dalton Medicinal Chemistry, The Equicom Group, Gowlings, HealthComm, Merck Frosst, Pfizer Canada, PricewaterhouseCoopers, Purdue Pharma Canada, RBC Royal Bank, Rx & D and VWR.

For further information:

Gail Garland, President & CEO – (416) 575-7805, gailgarland@obio.ca; Cathy Carter, HealthComm — (905) 338-0825

TORONTO, March 26 – Urgently needed capital should become more accessible to Ontario’s bioscience companies and help create jobs in the biotechnology sector, thanks to Ontario’s 2010 budget.  An announced increase in the budget of the Ministry of Research and Innovation coupled with anticipated adjustments to existing funding programs designed to encourage research and innovation are applauded by Ontario Bioscience Industry Organization (OBIO). 

In 2009, chief executive officers of Ontario-based bioscience companies identified the industry’s most pressing challenges and presented their recommendations for promoting growth in the sector to the Ontario Government. These recommendations of OBIO sought modifications to make existing funding programs more accessible and to accelerate commercialization, but did not ask for new money.

 Dr. David Young, chair of the board of directors of OBIO, and managing partner, Actium Equity Partners, said: “The Ontario Government is listening to our industry and  recognizing the economic potential of a vibrant and growing bioscience industry that can produce many of the medical therapies and technologies we now import and can create jobs. We encourage the Ontario Government in its commitment to innovation and the life-science sector by addressing the critical issue of access to capital.”

 Program modifications sought by OBIO included adjustments to the Biopharmaceutical Innovation Program (BIP), owing to difficulties for Ontario life-science companies in accessing funds. The province has since announced the winding down of BIP as a prelude to adjustments in other programs that will reflect industry input.

Gail Garland, president and chief executive officer, OBIO, said: “Innovation is the lifeblood of our life-science industry, which makes us the ideal partner for government in its drive to decrease the growth rate of Ontario’s health budget while making our healthcare system more efficient and effective. Working together, innovative life-science companies and the healthcare sector can achieve economic prosperity while enhancing health outcomes.”

 OBIO also has struck expert committees to work with industry CEOs on finding new ways to leverage global risk capital into Ontario and on developing a strategy to maximize the scientific and economic potential of biotechnology. Launched by chief executive officers of Ontario-based bioscience companies, OBIO provides executive-level input into provincial policies and economic strategy in order to advance the life-science sector.

For further information:

Gail Garland, President & CEO – (416) 575-7805, gailgarland@obio.ca; Cathy Carter, HealthComm — (905) 338-0825