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British Columbia has one of North
America’s fastest-growing biotechnology and medical
technologies clusters.
In the previous decade, 60 new
biotechnology firms were founded in Vancouver – the
third-largest number of any North American city – and this
impressive growth has continued.
Today, there are more than 100 core
biotechnology firms in British Columbia, employing 2,600
people.
Our core biotech companies are focused
on developing pharmaceuticals, therapeutics and genomic
products for human health care. Other capabilities include
agriculture and aquaculture biotechnology applications,
and medical technologies, including medical devices,
diagnostics, bioinformatics, bioproducts and contract
research and scientific services.
Local companies and institutions are
partnered with leading international biopharmas, such as
Novartis Ophtalmics (QLT), Boston Scientific (Angiotech),
Merck (Neuromed Pharmaceuticals Inc.), Takeda (Xenon),
Fujisawa Healthcare (Cardiome) and Roche (Aspreva
Pharmaceuticals).
British Columbia’s QLT Inc. and
Angiotech Pharmaceuticals are among the world’s few
profitable biotechnology companies.
- Excellence in life sciences research and advanced
education, combined with an entrepreneurial university
culture. In 2005, The Scientist ranked the University of
British Columbia ninth in North America and first in
Canada for producing high quality patentable research.
- Provincial government investment of $1.5 billion in
life sciences research and infrastructure since 2001.
- Operating cost savings of up to 20 per cent in
biotechnology R&D and bio-products manufacturing,
compared with competing U.S. locations.
- Provincial and federal refundable tax credits for
R&D activity that can reduce a biotech company’s burn
rate to as little as 32 cents on the dollar.
- British Columbia is the first jurisdiction in North
America where companies receive a tax refund based on
income generated from life science patents (75 per cent
up to $8 million annually).
- Easy access to major life sciences clusters on the
west coast and eastern seaboard of the U.S.
British Columbia’s vigorously growing life
sciences sector offers attractive opportunities for venture
capital investors, as well as for international companies
seeking to establish new facilities or develop alliances
with world-class local firms.
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