Ontario Bioscience Industry Organization » Reports

The Ontario Bioscience Industy Strategic Implementation Plan

obio — Thu, 23 Jun 2011 13:13:55 +0000

Over the past several months, OBEST has engaged >200 senior representatives from major stakeholder groups across Ontario’s life-sciences sector. The 6-month strategic planning Process has resulted in defined priorities and a plan for robust growth and commercial viability of the province’s bioscience industry.
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Canadian Life Sciences Industry Forecast 2011

obio — Fri, 21 Jan 2011 20:36:21 +0000

PwC is pleased to present its fourth Canadian Life Sciences Industry Forecast, a survey conducted in collaboration with BIOTECanada. The online survey, conducted in August and September 2010, was completed by 100 respondents from corporate, academic, government and other organizations in the industry. The report is designed to understand the challenges and concerns of the Canadian life sciences industry, explore new trends and communicate reoccurring themes.

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Ten Years After – Looking Back At A Biotech Boom

obio — Wed, 09 Jun 2010 19:15:49 +0000

Introduction
There have historically been overlapping biotech booms and IPO windows, the three most recent boom/windows being 1995-1996, 1999-2001 and 2003-2005. Each of these boom/windows was impacted by positive external market forces, with the last two benefiting from the dot-com bubble and the post-9/11 market bounce, respectively. The driving factors within biotech have been different for each boom/window: 1995-1996 was partially driven by investor demand for new stories; 1999-2001 was driven by the potential for new technologies; and 2003-2005 was partially driven by product approvals and successful companies. In this report, we look back at the 1999-2001 boom/window, the IPOs and their subsequent performance.

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The Burrill Report – Canadian Edition, April 2010

obio — Fri, 04 Jun 2010 13:17:33 +0000

Canada’s biotech stocks sizzled in the first quarter as they racked up impressive gains. The Burrill Canadian Biotech Index jumped 12 percent during the period. This is good news for the sector, which has languished for over three years. Low valuations have hampered the ability of public biotech companies to raise capital. The improving capital markets in Canada and the United States have helped bolster Toronto’s main stock index— the Toronto Stock Exchange’s S&P/TSX Composite Index—improving 3.5 percent during March and 2.5 percent for the quarter.

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ONTARIO’S LIFE SCIENCES COMMERCIALIZATION STRATEGY

obio — Mon, 03 May 2010 21:12:50 +0000

…But today our industry is being challenged by increased global competition
from established and emerging life sciences jurisdictions, as well as by
difficult economic conditions that include tight credit and market volatility.
To compete successfully in the global marketplace, we know that our industry
needs to continue to attract and nurture great scientific minds, increase
collaboration among all the players – academia, industry and government –
to accelerate the commercialization of research breakthroughs, and improve
financing for innovative companies, particularly at the early-stage.

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Discussion Notes: Quebec/Ontario Bioscience CEO Dinner, April 6, 2010

obio — Mon, 26 Apr 2010 15:11:31 +0000

What Quebec/Ontario Government funded programs are most effective?

First and foremost, as entrepreneurs our duty is to create shareholder wealth with products and services the marketplace demands. This cannot be substituted with or diverted by any government funding program.
Quebec: Tax holidays for key employees; tax exemption for new products developed in Quebec
- Quebec’s SR&ED tax credit regime is a differentiator, especially when combined with the Investment Quebec loan guarantee program
- Ontario: Emerging Technology Fund has the potential to be very helpful if bioscience companies could access it.
- Federal: Amendment of Section 116 tax code, should increase access to capital by non-residents and in particular venture capital and private equity funds. This will help put Canadian companies on an even footing to compete globally

As a Quebec/Ontario CEO what are the strengths of your sector?

In Quebec the creation of Teralys Capital is seen as beneficial as long as the venture captil funds that it finances invest in the life science sector
In Ontario the formation of OBIO to represent the CEOs of the industry helps move the agenda of the bioscience industry forward so companies can get beyond life-support

What advantages do other jurisdictions (i.e. USA) have?

The US government procurement policy is very nurturing to small business and innovative early-stage businesses. The SBIR program is a massive engine that fuels hundreds of life science start-ups per year.
US companies do not go public as early and are better capitalized when they do
Germany has invested heavily for the last decade in the biotechnology and has a strong industry with over 400 health-related biotech companies

What opportunities does the Quebec-Ontario biocorridor represent?

Encourage mergers and acquisitions to leverage strengths and build stronger companies
As a biocluster Quebec and Ontario become one of the largest clusters in North America and increase their marketing strength to outside investors
Increase understanding in both provinces of the amount of money and time required to take a product to commercialization
Expand the value proposition that bioscience offers to the economy of both provinces and to Canada

What single action can we take to build the Quebec-Ontario biocluster?

Ontario spends $46B on healthcare – challenge is making the spend more effective
Ontario, as both a healthcare payer and provider should be:
- A funder of life science companies that can help improve the effectiveness and efficiency of our $46B healthcare spend
- A lead customer and early adopter of these products and services

Provide more grant money to life science companies
Make public companies eligible for SR&ED
Flow through share programs used successfully in mining represent a model for a program that could be both feasible from a public funds perspective and compelling to industry
Flow through shares to biotech companies
Re-engage Canadian investors in this sector
More events like this evening’s dinner to encourage discussion and create natural opportunities for mentoring.