Organization: Investissement Quebec

Editorial – 30-10

Is Canada finally getting its innovation house in order? Two recent developments offer encouraging signs that federal (and provincial) policy is beginning to address past shortcomings at both ends of the innovation spectrum, acknowledging the importance of fundamental research and ensuring that rapidly expanding tech firms grow while remaining in Canada.

XPND capital raises $75 million

XPND Capital has closed its second fund with $75 million from institutional and private investors. The XPNDCROISSANCE Fund is aimed at transforming Quebec-based companies in traditional sectors such as transportation into innovative businesses by acquiring and implementing leading-edge technologies. Investments to date include Téo, an electric taxi project and Lion Bus, a manufacturer of electric…

AmorChem supports orphan drug development

Montreal-based venture capital fund AmorChem LP is investing in the research of Dr Pascal Chartrand to develop a therapeutic treatment for myotonic dystrophy, a rare hereditary disease for which there is no current cure. AmorChem will provide an undisclosed amount of funding to Univalor, the technology transfer and commercialization arm of the Univ of Montreal,…

Quebec government invests $50 million in clean tech VC

The Quebec government has invested $50 million in the privately run Cycle Capital Management (CCM) venture capital fund aimed at clean tech, with the potential for another $25 million if the fund can secure enough matching industry funding. The fund — Cycle Capital Fund III — targets companies at the commercialization stage that are looking…

Neptune launches $20-million expansion project

Neptune Technologies & Bioressources has announced a $20-million expansion of its facility in Sherbrooke QC for the production of its phospholipid products for the nutraceutical and pharmaceutical markets. The 3,700-sq-m expansion is being financed with a mix of public and private resources — Investissement Quebec ($3 million grant), Canada Economic Development ($3.5-million interest-free loan), Desjardin…

Ubisoft planning major Montreal expansion

Ubisoft Entertainment Inc is undertaking a $454-million expansion of its Montreal operations with the assistance of the federal the Quebec governments. The France-based developer of interactive entertainment products plans to add 1,000 new jobs in Montreal — its largest R&D centre — boosting its Montreal employment to 3,000 by 2013. The Quebec government is contributing…

Variation Biotech lands US$37.5 million in financing

Ottawa-based Variation Biotechnologies Inc (VBI) has secured US$37.5 million in Series A financing to move its vaccine program into clinical development with an initial focus on influenza. Clarus Ventures is the lead investor in a syndicate including ARCH Venture Partners, 5AM Ventures and existing seed investors. Founded in 2001, the privately held firm has early-stage…

Pratt & Whitney to boost R&D spending by $250 million

Pratt & Whitney Canada has announced an additional $250 million in R&D spending over three years with the assistance of a $75-million loan from the Quebec government. The assistance, repayable from royalties on sales, will be managed by Investissement Quebec. The new funding will support R&D aimed at validation, integration and improvement of engine performance,…