The Short Report, November 13, 2019: Antimicrobial resistance, sustainable investments, customer centricity

The Council of Canadian Academies released a report detailing new data on the potential impact of antimicrobial resistance in Canada. The expert panel found that 26% of infections are resistant to the medicines that are generally first prescribed and that rate could rise to 40% or beyond in the coming decades. By 2050, a total of 396,000 lives could be lost and the Canadian economy could lose $388 billion. “Antimicrobial resistance is a serious threat to millions, and may result in countless deaths globally over the next few decades”, said B. Brett Finlay, chair of the expert panel. - CCA

Concordia University says it will divest its entire endowment, worth about $243 million, from coal, oil and gas by 2025, putting the money into sustainable investments instead. - CBC

The Schulich School of Business at York University announced the creation of its new Centre for Customer Centricity, a hub for the creation, application and dissemination of knowledge related to making organizations customer-centric. - YorkU

Canadian predictive search and personalization company Coveo closed a $227 million round of investment, bringing its valuation to over $1 billion and making it Canada's first AI unicorn. The round was led by Omers Capital Private Growth Equity Group. Coveo's customers include Salesforce, Visa, Tableau, and Honeywell and employs around 500 people - TechCrunch

The ALS Society of Canada announced the recipients of the 2019 research funding grants through its ALS Canada Research Program, which will see nearly $1.4 million invested in leading-edge ALS research. More than $850,000 is being invested in ten Project Grants, and $540,000 will go to six Trainee Awards for the next generation of ALS researchers. - ASC

Members of the Canadian Securities Administrators (CSA) have signed a fintech co-operation agreement with the Monetary Authority of Singapore (MAS). The agreement extends the work of the CSA Regulatory Sandbox Initiative and the MAS Fintech and Innovation Group. It includes a referral mechanism for innovative businesses, and will enhance and clearly define information-sharing between these jurisdictions. - Newswire

Memorial University in Newfoundland signed a memorandum of understanding with Nunavut Arctic College (NAC), forming a 10-year partnership between the two institutions, to promote northern research opportunities, build administrative capacity and expand post-secondary programs in Nunavut. - Memorial Gazette

THE GRAPEVINE

Michael Sabia, currently CEO of pension fund Caisse de dépôt et placement du Québec (CDPQ), has been named the new director of the University of Toronto’s Munk School of Global Affairs & Public Policy. Sabia helmed Bell Canada parent BCE Inc from 2002 to 2008; previously, as CFO of Canadian National Railway, he organized the launch of CN as a publicly traded corporation. He serves as co-chair of the G7 Investor Leadership Network on Climate Change, Diversity and Infrastructure Development, as well as co-chair of long-term investment, infrastructure and development for the World Economic Forum. Sabia was hired to run the Caisse de dépôt after the 2008 financial crisis. Under his leadership, the Caisse tripled its assets and built a more global portfolio of investments. Sabia will step down in February, a year ahead of schedule, to take his post at U of T. - U of T News, Financial Post

Genome Canada announced that Dr. Rob Annan has been appointed as the organization's president and CEO, starting January 1, 2020. Annan joined Genome Canada in 2017 as Vice President of Public Affairs and Communications, and previously spent seven years at Mitacs as Chief Research Officer. “This is an exceptionally exciting time for genomics and related sciences, fast-moving fields that will impact our lives in ways that are staggering to imagine. Genome Canada has an essential role to play in shaping that impact to benefit Canadians’ health, environment and economic well-being," Annan said in a statement. - Genome Canada