Page 90 - InvestinAlberta-EDA-2024-2

AT A GLANCE
90
>$1 BILLION Revenue generated by the life sciences
industry in Alberta
>15,000
Jobs support life sciences companies in Alberta
>280
Life sciences companies are in Alberta
Making Edmonton a Medicine Hub
Alberta, with support from the Canadian government, is leading a charge to increase domestic production of medicines. In 2023, the federal government invested $80.5 million into the Canadian Critical Drug Initiative, a program hosted by the University of Alberta and the non-profit Applied Pharmaceutical Innovation that aims to kickstart the research and development of critical medicines. The goal is to set Edmonton, the Alberta capital, as a hub for medicine production, and to bolster the biomedical industry in this province.
The aim is to build a 40,000 square-foot manufacturing facility, able to produce 70 million doses of medicine a year. As well, Applied Pharmaceutical Innovation’s 72,000 square-foot space will be upgraded.
“Edmonton is a city on the cutting edge of technology, from its expert workforce to scientific innovations and world-class educational institutions. With (the) announcement, we’ll also ensure our city becomes a vital hub for bringing Canadian-made biomedical solutions to global markets,” said Randy Boissonnault, Canada’s Minister of Employment and Workforce Development.
>$320
MILLION
is spent on research and development by life sciences companies in Alberta
DISTRIBUTION OF COMPANY TYPE IN THE LIFE SCIENCES INDUSTRY IN ALBERTA
23.2%
18.5%
Research and Development Manufacturing
Consulting, contract research or other service provider
Other
Sources: BioAlberta, Invest Alberta
INVEST IN ALBERTA 2 0 2 4
34.6%
23.7
BY THE NUMBERS
LORDS OF THE FLIES
It might be fair to call Matt Anderson- Baron, Jalene Anderson-Baron and Lejjy Gafour the lords of the flies.
They are the principals behind Future Fields, a company that started off looking to be a global leader in creating lab-grown meat, but has evolved into something that has the potential to impact nutrition and health care on a global scale.
In February of 2023, the Edmonton- based company announced that it had raised $15.1 million in angel investments that will help it produce not only lab-grown meat, but vaccines and medicines.
Creating the proteins needed for these bioproducts is time-consuming and expensive. But the company discovered
there’s a greener, less intensive way to make these proteins — and that comes from nature itself. Fruit flies, common annoyances to the majority of us, can be used to make these vital products. The company’s trademarked EntoEngine is harnessing the flies’ potential.
As the world’s population grows, and there remains only a finite amount of land that we can use for agriculture, we will need to seek out new ways to produce food and other bioproducts. Future Fields states that it will use the money to hire more staff and add more capacity to its space.
Jalene Anderson-Baron was named Alberta Woman Entrepreneur of the Year in 2022.
The Kids Come First
In 2020, the University of Calgary
(U of C) was the first university in Canada to prioritize child health and wellness research. A $125-million Government of Canada grant ensures it will remain a research leader for years to come.
The Canadian First Research Excellence Fund’s grant — the largest ever awarded to an Alberta university, issued in April 2023 — helped launch the university’s One Child Every Child initiative. The initiative partners the U of C with over
130 organizations from around the world, including UNICEF Canada and Canada’s Inspiring Healthy Futures network, and will improve the health and well-being of infants, preschoolers and pregnant women to ensure better beginnings.
U of C President and Vice-Chancellor Dr. Ed McCauley said “This historic invest- ment in child health and well-being marks a milestone for Canada. This is a story of excellence driven by four decades of our community investing in child health.”
EDAAlberta.ca