$ 211 million to support companies in the life sciences sector

Minister of Economy and Innovation Pierre Fitzgibbon took advantage of the Effervescence Montréal convention, at Bonsecours Market, to unveil the 2022-2025 Québec Life Sciences Strategy on Thursday, providing $ 211 million in budgetary appropriations.

An approach that, according to the government, will generate direct investments worth nearly two billion dollars and revolves around five key areas: building synergies to meet key health challenges, building human capital and attracting talent, supporting the creation and growth of innovative companies, attracting and executing projects in investment and stimulation of the commercialization of innovations.

According to Minister Fitzgibbon, the new approach will also allow the Ministry of Health and Social Services to have better access to health solutions developed in Quebec.

This approach aims to advance care innovations using recent technological breakthroughs, from digital sciences to new approaches to personalized medicine.said the Minister of Economy.

New sectors for Quebec and around the world

The government defines the life sciences industry as those companies develop and market specialized and innovative products, platforms, processes and services related to human or animal health.

One of the goals of the government is for this approach to make possible the development of new industry sectors in niches such as messenger RNA vaccine technology, artificial intelligence applied to diagnostics and health, precision medicine or the development of biological products, including vaccines.

The other goal is to increase the presence of Quebec companies in local and international supply chains related to health services.

Therefore, Minister Fitzgibbon intended stimulate private investment throughout the life sciences value chain to make the link between basic research, one of the Quebec forces according to the minister, and to the companies.

As a province, as a country also in Canada, we must be self -sufficient for medicines and for an important part of the health equipment.indicated by the Minister of Economy and Innovation, adding that in a niche as strategic as the life sciences, we do not rely on planes coming from China.

Pierre Fitzgibbon acknowledged, however, that some health equipment would never be made locally, but he explained that by focusing on the province’s research capacities, we could accelerate change and produce, for example, more medicine, or still attract other foreign companies like Moderna, which will soon set up in Montreal to make vaccines.

Announcements like Moderna show the potential of this sector here in Quebecaccording to the minister.

In a video message shown after Pierre Fitzgibbon’s announcement, the Minister of Health and Social Services, Christian Dubé, stressed that the pandemic showed beyond any doubt the enormous importance of the life sciences.

He added that the Quebec Life Sciences Strategy is in line with his department’s Health Plan, which, according to Christian Dubé, will give great importance to research and innovative treatments.