Backgrounder
July 15, 2009
The Next Generation of Jobs Fund: Biopharmaceutical Investment Program
The Next Generation of Jobs Fund is a five-year initiative designed to stimulate economic growth and prosperity in Ontario while helping create the next generation of jobs.
The Next Generation of Jobs Fund supports Ontario’s Innovation Agenda, the province’s $3.2-billion plan for supporting world-class research and innovative companies in areas where the province already is, or can be, a global leader. Ontario’s priorities are:
- Conquering disease through life sciences, biotechnology, advanced health technologies and pharmaceutical research
- Tackling climate change through bio-based, environmental, alternative energy and clean technologies
- Advancing the digital universe by leading the development of new, global digital media, information and communications technologies.
Biopharmaceutical Investment Program
The Biopharmaceutical Investment Program is a program under the Next Generation of Jobs Fund initiative.
It is specifically designed to increase the level of biopharmaceutical research and development and advanced manufacturing in Ontario, and to help create high quality jobs for our skilled graduates.
Through the program, the province is making $150 million available over five years to projects that attract new biopharmaceutical investments to Ontario or enhance existing ones.
Investment In Pfizer Collaboration
On July 15, 2009, Ontario announced a $900,000 investment in a collaboration that will see the world’s largest pharmaceutical company, Pfizer Inc., partnering with two world-class institutions — the Ontario Institute for Cancer Research (OICR) and the Ontario Cancer Institute (OCI), which is part of the University Health Network. These Toronto-based research institutions are at the forefront of global expertise in genomics, cancer stem cell research and cancer metabolism.
This initiative will identify new molecular targets and biomarkers, with the goal of developing drugs that are more effective than current treatments at detecting and treating colorectal cancer in patients with a poor prognosis.
BIO 2008
The seeds of this partnership were planted at BIO 2008 in San Diego, the world’s largest biotechnology conference. There, the Minister of Research and Innovation and all the partners met to discuss possible collaboration opportunities. Over the course of the next year officials from the ministry and partner organizations worked out the details of the project.
Other Investments Under The Biopharmaceutical Investment Program
In April 2008, Ontario announced a $13.9-million investment to help sanofi pasteur expand R&D operations at the vaccine company’s North Toronto research park. The $101.5-million expansion includes the construction of a new $80-million, state-of-the-art research facility and the expansion of sanofi pasteur’s research activities over five years. The project is creating 30 new, permanent high-value jobs, retaining 900 current high-value jobs and helping develop vaccines for diseases like whooping cough and various forms of cancer.
In November 2008, Ontario announced a $4.9-million investment to help Purdue Pharma Canada undertake a $32-million expansion of its operations in Pickering. The expansion is enabling Purdue to double its research capacity while providing jobs for 53 people to work in research, development and advanced manufacturing.
Click here for more information about the Biopharmaceutical Investment Program, guidelines and application forms.
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