Over $80.5 million in federal funding for an Edmonton-based initiative will enable early-stage companies to bring new pharmaceutical products to market and develop talent in Alberta's life sciences sector
Canada is home to leading-edge research and expertise in the health and life sciences sector. The federal government is collaborating with all orders of government, industry, academic institutions, and businesses to strengthen Canada's biomedical industry and support the competitiveness of Canadian-made pharmaceutical solutions.
Today, the Honourable Dan Vandal, Minister for PrairiesCan, and the Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance, announced $80,514,000 over five years to support the Canadian Critical Drug Initiative-an integrated research, development, and manufacturing initiative that will strengthen Alberta's biomedical sector and increase the domestic production of critical medicines. This project aligns with Canada's Biomanufacturing and Life Sciences Strategy.
This initiative is led by Applied Pharmaceutical Innovation, a not-for-profit organization that helps innovators commercialize life sciences innovations, in partnership with the University of Alberta.
Specific project activities will include:
- Creating a new, 40,000 square-foot drug manufacturing facility in Edmonton to produce new and critical medicines. The facility will be a first-of-its kind in western Canada and will be capable of producing 70 million doses annually.
- Upgrading infrastructure at Applied Pharmaceutical Innovation's existing 72,000 square-foot research and development facility at the Biotechnology Business Development Centre in Edmonton to support more early-stage companies in commercializing their products.
- Enhancing research and development programs to train technicians and scientists in developing and producing new medicines. This will be done in collaboration with universities across the country, strengthening Canada's talent pipeline in the life sciences sector.
- Supporting clinical trials and commercial development of new medical treatments that improve quality of life for Canadians.
This PrairiesCan funding is expected to support the growth of at least 60 early-stage life sciences and biomanufacturing companies, the creation of more than 350 high quality jobs, and the training of 175 skilled workers.
