May 31, 2019 - Sherbrooke, Quebec - Canada Economic Development for Quebec Regions (CED)
Fuelled by cutting-edge scientific expertise, Immune Biosolutions Inc. is a leader in the discovery, engineering and development of new antibodies for the biopharmaceutical sector. To maintain its momentum, the Sherbrooke-based company will receive a repayable contribution of $250,000 from Canada Economic Development for Quebec Regions. This financial assistance will allow it to acquire even more advanced laboratory equipment in order to optimize its productivity, accelerate its growth and develop its markets in Canada and abroad.
The funding was announced today by the Honourable Marie-Claude Bibeau, Member of Parliament for Compton-Stanstead and Minister of Agriculture and Agri-Food. More specifically, the Government of Canada's assistance is aimed at enhancing Immune Biosolutions' cellular and genomic analysis equipment. This project, which required investments of more than $1.8M, created three jobs in science and technology.
Founded in 2012, Immune Biosolutions discovers and develops high-quality antibodies that promote the adoption and emergence of innovative diagnostic and therapeutic methods, including in oncology, gastrointestinal health and infection control. Its approach differs from traditional technologies: its use of the chicken's immune system and multidisciplinary incorporation of bioinformatics and artificial intelligence technologies promotes efficient and rapid discovery of high-potential therapeutic and diagnostic antibodies.
The Government of Canada is committed to supporting innovative Canadian businesses. A driving force of the economy, advances in the research and development of new processes and products generate growth that benefits both businesses and communities.
"In a short period of time, Immune Biosolutions has carved out an enviable place for itself in this cutting-edge field in Canada and abroad. The funding announced will allow the company to purchase new lab equipment to continue its infection control work. This Government of Canada assistance is intended both to recognize and support this growing company, which continues to impress us all."
The Honourable Marie-Claude Bibeau, Member of Parliament for Compton-Stanstead and Minister of Agriculture and Agri-Food
"Our government is laying the foundation for Canadians to become more competitive and succeed in the global economy. Today's investment in Immune Biosolutions is in line with Canada's competitive advantages and reflects our desire to support initiatives that raise awareness of our know-how and expertise beyond borders."
The Honourable Navdeep Bains, Minister responsible for CED
"Discovering and developing new-generation antibodies to solve global health challenges is our company's primary motivation and purpose. We operate in a field where hopes are high, and we are seeking to contribute, through our research, collaboration and progress, to this lofty goal. CED's assistance will help us take another step forward in achieving the ambitious objectives we have set for ourselves."
Frédéric Leduc, Chief Executive Officer, Immune Biosolutions
Quick facts
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Today's announcement was made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which is made up of 17 federal departments and agencies, including CED and the other five regional development agencies.
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The funding was awarded under CED's Quebec Economic Development Program
