Mar 4, 2019 | BioVectra, News
BioVectra Inc. announces a $144.6 million expansion project, including a $37.5 million contribution through the Government of Canada’s Strategic Innovation Fund
— Prime Minister Justin Trudeau visits BioVectra to announce Government of Canada investment in Atlantic Canadian CDMO and high-skilled jobs creation in the region —
Charlottetown, Prince Edward Island, Canada (March 4, 2019) – Today, BioVectra Inc., an Atlantic Canadian Contract Development and Manufacturing Organization (CDMO), announced a five-year, $144.6 million (CAD) expansion project to enhance its Biopharmaceutical capabilities in both Charlottetown, Prince Edward Island and Windsor, Nova Scotia.
Prime Minister, Justin Trudeau, visited BioVectra in Charlottetown to announce a $37.5 million contribution from the Government of Canada through the Strategic Innovation Fund (SIF). The $37.5 million contribution represents the single largest SIF Project ever awarded in Atlantic Canada.
“Thanks to innovations in life sciences, Canadians are living longer, healthier lives than ever before. Canadian companies like BioVectra are creating new jobs and establishing themselves as global leaders in producing lifesaving treatments for serious illnesses that affect millions of people around the world. Today, we are not only investing in an innovative Canadian business, but also in Canadians and the future prosperity of our country.” – The Rt. Hon. Justin Trudeau, Prime Minister of Canada
More specifically, the project is intended to support BioVectra’s on-going Active Pharmaceutical Ingredients (APIs) production capacity expansion in Charlottetown, as well as an expansion of its Biologics capabilities in Windsor, including a mammalian cell culture facility.
Over the project’s five-year lifespan, 150 high-skilled, full-time jobs are expected to be created on Prince Edward Island and in Nova Scotia. “We are pleased to announce plans to create 150 additional jobs, 110 to be located at our Windsor site and 40 in Charlottetown,” said BioVectra President, Oliver Technow. “This is an extremely proud day for BioVectra, and we are deeply appreciative of the government’s support. Since 2015, we have invested approximately $25 million per year in expansions and technologies that have vastly enhanced our capabilities. Today’s announcement is a continuation of our commitment to growth right here in Atlantic Canada!”
As a trusted and innovative partner, BioVectra’s global client base includes most of the top 20 biopharmaceutical companies in the world. “Our clients develop important, life-saving medicines for people all around the globe,” said BioVectra’s Windsor General Manager, Heather Delage. “This exciting expansion project is designed to help propel us toward being a top-tier player in the biologics field, where many therapies are advancing rapidly, and changing the way healthcare is delivered.”
Beyond these expansion plans, BioVectra intends to complement its existing academic partnerships by forming additional collaborations with Canadian academic institutions. This investment includes reinforcing its future talent base by providing over 25 students with on-the-job training and internship opportunities on an annual basis.
About BioVectra
BioVectra is a CDMO that serves global pharmaceutical and biotech companies with full-service cGMP outsourcing solutions for intermediates and active pharmaceutical ingredients. An innovative and reliable service partner with a strong regulatory history, BioVectra has over 45 years of experience specializing in:
- cGMP Microbial Fermentation
- Complex Chemistry – High Potency APIs
- Biologics
- Formulation Development
For more information about BioVectra, please visit www.biovectra.com.
Media Contact
Jordan MacGregor
Communications and Marketing Manager
BioVectra Inc.
Phone: 902-566-9116 ext. 6376
E-Mail: [email protected]
Statements in this document that are not strictly historical, including statements regarding future business prospects, use of capital or the impact of any such events or developments, and any other statements regarding events or developments the company believes or anticipates will or may occur in the future, may be “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. The forward-looking statements made herein speak only as of the date hereof and the company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise, except as required by law.]]>
Apr 12, 2018 | Atlantic Canada Opportunities Agency (ACOA), BioVectra, News
Extensive facility renovation, new equipment, assists life sciences firm in creating jobs, growing regional economy
April 12, 2018 – Windsor, NS – Atlantic Canada Opportunities Agency
Canada is a country of innovators. Curiosity, creativity and a collaborative spirit are what lead to the kinds of innovations and technologies that improve our daily lives and drive our economy, and our country, forward. That is why the Government of Canada is investing $5,000,000 in BioVectra Inc. to help the Charlottetown-based biotechnology and pharmaceutical ingredient manufacturing company expand its operations to Nova Scotia. This will enable the firm to grow, create additional highly skilled positions and help build sustained economic prosperity in Atlantic Canada.
The funding was announced today by the Honourable Scott Brison, Secretary of the Treasury Board and Member of Parliament for Kings-Hants, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency(ACOA). The repayable contribution is being made through ACOA’s Business Development Program, which helps small and medium-sized enterprises expand and modernize to improve competitiveness.
BioVectra will use the assistance to complete major renovations at its Windsor facility and to purchase new equipment. This will allow the company to increase its capacity to develop and manufacture biologic drug substances for global pharmaceutical and biotechnology companies. These materials are used in the creation of products to treat cancer, autoimmune disorders, diabetes, arthritis, and many other serious illnesses.
The project will create 28 full-time positions, and by 2020, when the plant is fully operational, it is expected that more than double that number of people will be employed there.
This investment builds on commitments made by the Government of Canada and the four Atlantic Provinces to drive economic growth in the region through the Atlantic Growth Strategy, which supports strategic investments in initiatives that build on the region’s competitive advantages, such as its strong export potential, growing innovation network, and skilled workforce.
Quotes
“Science and technology – along with stronger international trade – are rapidly changing the way Canadians live and work, bringing new challenges and more opportunities. Investing in BioVectra Inc., an industry-leading biotechnology and pharmaceutical ingredient manufacturing firm, will help strengthen and grow the middle class, and lay a more solid foundation for the next generations of Canadians.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“The jobs of the future depend on Canadians’ ability to continue to adapt, innovate, and maintain our competitive edge in the fast-paced and increasingly global economy. BioVectra is already known worldwide for its expertise in developing and producing active pharmaceutical ingredients used in products that treat life-threatening diseases. This modern, 50,000 square-foot facility will increase the company’s manufacturing capacity by 40 per cent and allow BioVectra to become a rare one-stop shop for its global biotech and pharmaceutical customers.”
– The Honourable Scott Brison, President of the Treasury Board and Member of Parliament for Kings-Hants
“As an integral part and leader within the vibrant Atlantic Canadian BioScience cluster, we consider ourselves fortunate to operate in a supportive ecosystem where substantial emphasis is placed on talent, skills and innovation. The contribution from ACOA’s Business Development program will enable BioVectra to continue to thrive, create highly skilled jobs in Atlantic Canada, and help solidify Canadian leadership within the very competitive global markets we participate in.”
– Oliver Technow, President, BioVectra Inc.
Quick facts
- BioVectra Inc., headquartered in Charlottetown, P.E.I., has more than 300 employees, and will initially add another 28 jobs in Windsor. The company’s four locations – three in Charlottetown and one in Windsor – total approximately 110,000 square feet.
- BioVectra’s predecessor, Diagnostic Chemicals Ltd. (DCL), was founded in 1970 by Dr. Regis Duffy, then a UPEI chemistry professor, who began producing small amounts of a specialty chemical under contract to a U.S. firm.
- Since its inception, BioVectra, which is part of the active pharmaceutical ingredient life cycle from early clinical development to commercial supply, has created hundreds of products used on the market today.
Contacts
Alex Smith
Director of Communications and Outreach
Atlantic Canada Opportunities Agency
Phone: 902-426-9417 / 902-830-3839 (cell)
E-mail: [email protected]
Jordan MacGregor
Communications and Marketing Manager
BioVectra Inc.
Phone: 902-566-9116 ext 6376
E-Mail: [email protected]]]>
