Montreal’s NEOMED Institute needs more space to accommodate growing demand for its facilities and services. Discussions are underway with an unnamed third party equity investor to finance the expansion of its Laval facility with a decision expected within weeks. NEOMED’s growth proves it is possible to come up with a business model that can retain top talent in a region when big pharma employers decide to move out.
Topic: Quebec life sciences strategy
The long-awaited 2017-2027 Quebec Life Sciences Strategy is positioning the province to be in the top five North American life sciences clusters within a decade. The strategy aims to leverage its scientific expertise, particularly in precision medicine and big data, by attracting $4 billion in private investment to boost industry employment and increase the number of Quebec-based firms and their contribution to provincial GDP.
The Quebec government has committed $834 million over five years to research and innovation, including unprecedented increases for post-secondary research after recording its second consecutive Budget surplus. The new funding arrives ahead of the province’s latest research and innovation strategy, due next month, as well as a new life sciences strategy expected before the end of April.