Ontario Bioscience Industry Organization http://obio.ca Ontario's leading advocate for the life sciences sector Wed, 24 Feb 2010 14:22:55 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 Innovation and Commercialization Seminar Series at U of T Medicine http://obio.ca/2010/02/innovation-and-commercialization-seminar-series-uoft-medicine/ http://obio.ca/2010/02/innovation-and-commercialization-seminar-series-uoft-medicine/#comments Tue, 23 Feb 2010 21:11:11 +0000 obio http://obio.ca/?p=236 University of Toronto, Faculty of Medicine is hosting 3 seminars on Innovation and Commercialization:

Commercialization:  March 18 (view pdf)

Intellectual Property:  April 15

Business Planning:  May 13

]]> http://obio.ca/2010/02/innovation-and-commercialization-seminar-series-uoft-medicine/feed/ 0 OBIO Releases Biotechnology Industry Consultation Report http://obio.ca/2010/01/test/ http://obio.ca/2010/01/test/#comments Wed, 20 Jan 2010 20:26:34 +0000 admin http://s180382863.onlinehome.us/obio1/?p=52 OBIO Biotechnology Industry Consultation Report
November 2009

(Download PDF / View Online)

Executive Summary
The Ontario government has recognized the importance of the emerging knowledge economy to the province’s future prosperity. The biotechnology industry is an important part of a knowledge economy. The confluence of external and internal factors has converged to create an unprecedented crisis in this sector. The combination of the recession, the high cost of research and development, decreased liquidity and absence of equity investment threatens the survival of many of our nascent companies. Many of our companies’ very survival are being challenged, specifically due to their inability to raise capital and maintain the necessary working capital to continue operations1. A number of them have ceased operations due to the crisis.

Ontario’s biotechnology SMEs, of which 68% are privately owned, develop innovative drug therapeutics, diagnostics and medical devices. The Ontario government has shown commitment to the biotechnology sector, as part of their support for emerging technology industries. However, regulatory requirements and the lead-time between discovery and commercial revenue create unique challenges for SMEs in the bioscience sector, which are not always recognized. Both private and public biotechnology SMEs have come together to form the Ontario Bioscience Industry Organization (OBIO) with the mandate to provide input to the provincial government around actions designed to ensure the long-term commercial success of our industry, and the associated growth in R&D sector jobs and financial health.

This report provides five specific recommendations (see below) to government. The five recommendations focus on changes to existing provincial programs, all of which we believe could be modified within the next fiscal year, and target short-term relief for the Ontario industry. They are based on direct feedback from CEOs of Ontario biotechnology firms in a province-wide consultative process. The process was completed in two stages. Initially, 6 province-wide working groups enumerated CEOs’ concerns and suggestions. The second stage consisted of an online consultation and voting process involving CEOs in the industry. Finally, the report identifies several longer-term opportunities for strengthening the partnership between the Ontario biotechnology industry and government.

Specific Industry Generated Recommendations
1. Increase the 10% refundable Ontario Innovation Tax Credit (OITC) to be more in line with Quebec.
2. Establish a mechanism to monetize Tax Credits quickly, providing short-term cash flow
3. Modify the eligibility requirements of the OETF to allow for smaller funding rounds.
4. Establish a fund similar to OETF for small public companies unable to raise capital.
5. Change the eligibility requirements for BIP to:
a. Remove needs for current market activity
b. Expand the types of companies who can apply
c. Reduce the level of expenditure required

Click here to view the full report online, or click here to download the PDF version.

1 http://www.biotech.ca/uploads/pwc%20survey/lifescienceforecastfinal.pdf

]]> http://obio.ca/2010/01/test/feed/ 0 Review of the Canadian Healthcare Sector in 2009 by Equicom http://obio.ca/2010/01/review-of-the-canadian-healthcare-sector-in-2009-by-equicom/ http://obio.ca/2010/01/review-of-the-canadian-healthcare-sector-in-2009-by-equicom/#comments Wed, 20 Jan 2010 14:40:07 +0000 admin http://obio.ca/?p=144 Public Canadian healthcare companies operate in a complex, challenging and constantly changing global environment. In 2009, some companies celebrated success, most focused on survival and a few did not make it. In this review, we will look at some of the environmental changes and company-specific events of 2009 which characterize this challenging year and will impact the future of this sector.The sector raised a total of about $1.28 billion from equity and convertible debt financings in 2009.

Excluding the US$350 million convertible debt financing by Biovail and the US$215 million equity financing by SXC Health Solutions, the rest of the sector raised $654 million, which is substantially better than the 2008 total but is still far below the annual average of almost $1.05 billion for 2005 through 2007.

Click here to download the PDF of the full article.  Click here to view online.

]]> http://obio.ca/2010/01/review-of-the-canadian-healthcare-sector-in-2009-by-equicom/feed/ 0 The Canadian Blueprint: Beyond Moose and Mountains — How we can build the world’s leading bio-based economy http://obio.ca/2010/01/the-canadian-blueprint-beyond-moose-and-mountains-how-we-can-build-the-worlds-leading-bio-based-economy/ http://obio.ca/2010/01/the-canadian-blueprint-beyond-moose-and-mountains-how-we-can-build-the-worlds-leading-bio-based-economy/#comments Wed, 20 Jan 2010 07:36:46 +0000 obio http://obio.ca/?p=136 Biotechnology is creating products and processes that improve our quality of life. Just as importantly,
biotechnology is also creating high-quality jobs for Canadians in every part of the country; rewarding,
knowledge economy jobs.

No matter where we live, we all have a stake in the bio-based economy.

The “Canadian Blueprint” is a strategy that will enable us to take full advantage of all the opportunities
biotechnology has to offer, provided all stakeholders do what is required of them.

This document is a call to action. The Canadian Blueprint is vitally important because, the fact is,
biotechnology is critical to Canada’s future prosperity and economic security.

Click here to download the PDF.  Click here to view online.

]]> http://obio.ca/2010/01/the-canadian-blueprint-beyond-moose-and-mountains-how-we-can-build-the-worlds-leading-bio-based-economy/feed/ 0 New Fund Expands Options for Cash-strapped Biotech Industry http://obio.ca/2009/12/new-fund-expands-options-for-cash-strapped-biotech-industry/ http://obio.ca/2009/12/new-fund-expands-options-for-cash-strapped-biotech-industry/#comments Wed, 16 Dec 2009 21:58:01 +0000 obio http://s180382863.onlinehome.us/obio1/?p=106 Ottawa (Dec. 16, 2009) – The new Tandem fund of $300 million announced last week presents a much-needed financing option for Canada’s biotechnology industry. The Fund received investments from the Business Development Bank of Canada (BDC), and Export Development Canada (EDC), contributing $80 and $75 million respectively to the Fund.”The fact that biotech firms are able to apply for funding from this new source is a positive step in supporting the industry,” stated Peter Brenders, President and CEO of BIOTECanada. “The Canadian industry has long relied on private capital sources, and has increasingly been looking abroad for support. In a world where countries compete aggressively to be first in this new economy, we need dedicated options from the federal government to keep this industry strong, and in Canada.”
 

For further information on the Tandem Fund, please see:
  
“With an average of 12-15 years spent developing our products in the lab, biotech firms are always on the hunt for funding to meet their next milestone,” said Peter Matthewman, President and CEO of Performance Plants, of Kingston, Ontario. “It is encouraging to see the government providing financing options – especially at a time when other jurisdictions are committing to strategic and well-funded policies to attract biotechnology to their shores.”
Biotechnology provides a strong underpinning for Canada’s economy, with the use of the technology accounting for 6.4% of yearly GDP. This is more than the GDP contribution made by the aerospace, auto or forestry sectors.
In 2009, biotechnology firms were hard hit by the economic downturn. The year witnessed several bankruptcies and the cancellation of research projects in oncology, infectious diseases, diabetes, hepatitis, cardiovascular disease, and pain. BIOTECanada research estimates 2500 highly skilled jobs have been lost.
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Contact: Kasia Majewski, BIOTECanada kasia.majewski@biotech.ca 613-230-5585 ext. 257

ABOUT BIOTECanada www.biotech.ca

BIOTECanada is dedicated to the sustainable commercial development of biotechnology innovation in Canada. It is the national industry-funded association with over 250 member companies representing the broad spectrum of biotech constituents including emerging and established firms in the health, industrial, and agricultural

 

]]> http://obio.ca/2009/12/new-fund-expands-options-for-cash-strapped-biotech-industry/feed/ 0 Funding Opportunities in 2009-2010 for Bioscience Companies:  What CEOs Need to Know About Ontario’s ETF and BIP Programs http://obio.ca/2009/09/funding-opportunities-in-2009-2010-for-bioscience-companies%c2%a0-what-ceos-need-to-know-about-ontario%e2%80%99s-etf-and-bip-programs/ http://obio.ca/2009/09/funding-opportunities-in-2009-2010-for-bioscience-companies%c2%a0-what-ceos-need-to-know-about-ontario%e2%80%99s-etf-and-bip-programs/#comments Fri, 11 Sep 2009 14:51:32 +0000 admin http://obio.ca/?p=150 Funding Opportunities in 2009-2010 for Bioscience Companies:  What CEOs Need to Know About Ontario’s ETF and BIP Programs.  This OBIO event was held on Sept. 11, 2009 in Mississauga.

The panel presentations are archived within the “Ministry of Research and Innovation” folder at:   http://hosting.epresence.tv/UTM/1/Page/Published/99.aspx
Click on the “OBIO – OETF Launch Panel” event.  Password: OBIO

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