Category: Baystreet Newswire
Each year, BIOTECanada hosts a two week conference to introduce large companies and investors to the biotech community, and every year it's a sellout, says
"The investor turnout is a good omen as to what's going on in
He attributes that to a strong post-secondary education system, a highly educated workforce and relative economic strength. "Industries such as forestry, mining, oil and gas and fishing don't have to look far to find resources to compete in the new bio-economy."
One thriving biotech company is
"Carbohydrate chemistry offers tantalizing possibilities for therapies and diagnostic tools to fight everything from cancer, to antibiotic-resistant bacteria, to arthritis," says Dr.
Sirona's technique has also found a place in the booming anti-aging and cosmetic markets - a crossover that is enabling the company to drive revenue streams earlier in the production cycle. To date it has established a foothold through partnerships with North American, Asian and European entities, including a major pharmaceuticals, med- ical centres and cosmeceutical companies.
"The opportunities for this type of ingredient are enormous," says
When asked about the multi-pronged approach, Belenkie explains it's often the nature of biotech research. He likens it to an Intel chip. "Every computer has one. You can put your own screen, keyboard and software around it, but that chip is the backbone for everything. What we create is something that you can build a cocktail of ingredients around to create a product."
"People don't realize that all drugs going through different approval trials have to come from somewhere," adds Dr. Verrico. "Some lab has to create the first chemical entity for drug or ingredient discovery."
The advantage of gaining an early foothold on the cosmetics side is that it takes approximately 12 months to complete research and testing of ingredients. Pharmaceutical research into a new drug can take years and millions of dollars before becoming commercial viable. "Cosmetics can yield near term commercial success with strong royalty steams," Belenkie notes.
Given the changes taking place in the world today, the opportunities for the industry are enormous, Casey says. "In the next 20 years the world population will reach nine billion. That will put enormous pressure on the planet and our health. How will we feed them? How will we reduce CO2 emissions? How can we improve health? These are all things that play an important part in moving the biotech industry forward."
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