OTTAWA, Ontario--(BUSINESS WIRE)--COVID-19 has clearly presented an enormous and unprecedented stress test for Canada’s society, healthcare system and economy. While there remains much uncertainty ahead, one thing is clear; if we are to return to the world we once knew, we will need: efficient testing and tracing capacity; a diverse suite of anti-viral therapeutics; and, an availability and acceptance of effective vaccines. The biotechnology industry is tasked with delivering on each of these. Thankfully, early indicators show the industry is responding and up to the task. Today’s release of Canadian Biotechnology: Solving for today. Building for tomorrow BIONATION policy paper continues to showcase how the industry ecosystem is providing an enormous value to the healthcare system, society and the economy.
“The biotech sector represents an important opportunity for health security and economic growth. The government has leaned heavily on the sector through the pandemic and will in all likelihood continue to do so going forward. Accordingly, leveraging and investing now in its multiple strengths and components including early stage companies, universities, research institutes, and large multinational companies, will create the environment for biotechnology to bring high value next generation agricultural, health and industrial products to the world and enable the economy and healthcare system to get an early jump on recovery,” commented Andrew Casey, President and CEO BIOTECanada.
Over the past five years Canada's biotechnology sector has been one of our top economic success stories. With approximately 900 innovative biotechnology companies located in Canada feeding a national network of discovery and development, the biotech sector is a catalyst for long-term economic growth in all regions of the country and will help drive opportunities in big data, genomic applications and artificial intelligence.
Canada’s BIONATION network is a vibrant national biotechnology ecosystem with foundational hubs located in every province which each including world-class universities and research institutes, start-ups, small and medium enterprises, and large multinational corporations. The current crisis underscores the sector’s strategic importance and the imperative of investing in its growth and competitiveness. Growing and strengthening the ecosystem will lead to increased economic growth, high-skilled jobs, more effective healthcare spending, improved productivity, and globally competitive leadership in research commercialization.
