Fonds de solidarité FTQ said it will a strategic and financial partner in the implementation of the Québec government’s Life Sciences Strategy, announced today.
The Fonds will help the government to foster the emergence and growth of Québec life sciences firms, which will some day become beacons of the economy. The Fonds will also leverage its international partner network to help patients and further the economy.
“Just like the Québec government, the Fonds de solidarité FTQ believes strongly in Québec’s potential in this field. That’s why our team invests each year in promising niches by supporting the growth of up-and-coming companies, biotechs and specialized funds. As a result, the Fonds has invested over $1.2 billion dollars in this strategic field, ” said Alain Denis, Senior Vice-President, Innovation, Fonds de solidarité.
“Based on what is happening in the U.S. and Europe, we’re asking institutional and private investors to step up their efforts and reinvest in this industry to support Québec’s ambitions in the life sciences sector. Together, we can help Québec take its rightful place on the global scene in a leading-edge sector in which it excels from a scientific aspect,” added Didier Leconte, Senior Investment Director, Life Sciences at Fonds de solidarité.
Among the Stratégie québécoise des sciences de la vie 2017-2017, the Quebec government aims to attracting $4 billion in private investment to Quebec by 2022 and ensure that Quebec is among the top five North American jurisdictions in life sciences by 2027.
Quebec government will implement following measures to accomplish its ambitious goals:
- $75 million for a Health Collaborations Acceleration Fund
- $11.1 million to Improve Clinical Research Processes
- $100 million BioMed Propulsion program
- $100 million to support private investment projects
- $26.5 million for the establishment of the Office of Health Innovation