BIOQuébec represents all members of the life sciences innovation chain; along with healthcare technology, they form a vibrant ecosystem in Québec. While some issues apply to the industry as a whole, such as the financing chain and the marketing and integration of innovative products into the healthcare system, others only pertain to certain sectors.
OUR FIVE PRIORITIES
During its representations and its routine operations, BIOQuébec aims to:
· STRENGTHEN THE FINANCING CHAIN
· ACCELERATE THE INTEGRATION OF INNOVATIONS
· FACILITATE ACCESS TO SR&ED CREDITS
· FACILITATE THE ATTRACTION AND RETENTION OF WORKERS
· HIGHLIGHT BIOSCIENCES’ ROLE AND CONTRIBUTION
Many participants are involved in the development and marketing of new tests, drugs, and other products and services linked to life sciences, allowing them to progress from basic research to the marketplace.
BASIC RESEARCH AND DISCOVERY
This sector consists mainly of universities and research institutes, but approximately 16% of contract research firms in Québec also offer these services. As such, these organizations initiate the discovery of new molecules, processes or technology and authenticate various concepts.
> 200 public or parapublic research organizations
BIOTECH AND DEVELOPMENT
Biotechs are usually the ones to develop an innovation. In 2016, there were more than 130 biotechs in Québec, with half of them operating as start-ups. They are the ones that look for financing to develop their innovation; they also oversee the various organizations involved in formulating, manufacturing, performing clinical research, obtaining regulatory approval, and marketing.
$248 million annual payroll
$468 million in annual contributions to the GDP
$3.5 million in added value per biotech
TRANSFER AND FINANCING
Valorization corporations were created by the Québec government to facilitate the process of going from basic research to applied research by creating a company, a partnership or an agreement so that the innovation can proceed to the next stage. This process is also supported by various transfer organizations and investment funds specializing in life sciences.
3 valorization corporations
$326 million in venture capital financing in Quebec life sciences and Medtech in 2017
Several organizations specialize in contract research services ranging from preclinical validation to Phase I-II-III clinical research. The nature (analysis, biostatistics, formulation, manufacturing, drafting protocols, conducting studies, etc.) and areas of specialization (dermatology, oncology, neurology, genetics, etc.) of their services in the province are quite varied.
$224 million in annual payroll
$550 million in annual sales
75% more added value per direct job
PHARMAS AND MARKETING
While some biotechs market their innovations themselves, most of them do so in alliance or partnership with other organizations. Pharmas play an important role here because of their international reach and established distribution network.