December 16, 2024
For more than a quarter century, genomics has made transformative progress toward solutions to global challenges.
Advances in lab automation, sequencing, artificial intelligence, bioinformatics and analysis have expanded capabilities and reduced costs. Genomics is now affordable and accessible for an increasing number of day-to-day applications in healthcare and in economic sectors such as forestry, agrifoods, fisheries and aquaculture.
Scientific research, basic and applied, continuously generates new discoveries. These findings rapidly expand the breadth and depth of scientific knowledge, furthering our ability to face challenges head on. Translating research outcomes into new products, services, processes and systems creates significant economic value for society and benefits the public good.
Ecosystems that accelerate research and translation into practice are more competitive and create thriving, innovation rich environments for research and for companies to grow. Here in British Columbia (BC), investments made in genomics research support a robust life sciences ecosystem that is thriving. This is driven by a potent combination of world class research, entrepreneurial spirit and collaboration.
Early Investments in BC’s Life Sciences Ecosystem Pay Off
BC is home to Canada’s largest biotech company, STEMCELL Technologies; Canada’s largest medical device company, Starfish Medical; as well as Canadian biotech leaders, AbCellera Biologics, Aurinia Pharmaceuticals, Xenon and Zymeworks Inc. In addition, new biotech companies continue to emerge, such as Precision NanoSystems and Aspect Biosystems.
AbCellera, Precision NanoSystems and Aspect Biosystems are on the path to becoming anchor companies — a critical element of any innovative ecosystem. Through early investments from Genome BC and others, AbCellera was developing critical single cell analysis technology well before its pivotal role during the COVID-19 pandemic. Genome BC also provided essential funding for Precision NanoSystems’ early technology development. Today, they are a leading global provider of technology solutions for the development and manufacturing of genetic medicines, including RNA vaccines and therapeutics. Aspect Biosystems credits Genome BC as a key funding partner for early technology development as they pioneer a new category — bioprinted tissue therapeutics. Further investments enabled them to form partnerships with global industry leaders that are transforming how we treat disease.
Building Momentum
Since Genome BC’s founding, we have been committed to fostering a thriving life sciences ecosystem in British Columbia. We’ve always believed in BC’s bright future as a global leader in life sciences innovation, particularly in genomics.
Genomics is transforming entire industries in agrifoods, health care, medical devices and direct-to-consumer testing companies. Progress in genomics has the potential to create large societal and economic benefits across all sectors.
BC’s Life Sciences and Biomanufacturing Strategy underscores the provincial government’s dedication to fostering a robust life sciences sector. Genome BC, along with other key partners, plays an integral role in this plan, working collaboratively to achieve the strategy’s objectives. For nearly 25 years, Genome BC, along with other not-for-profits and partners, has been instrumental in building and sustaining BC’s life sciences ecosystem.
Genome BC helped lay the foundation for this thriving sector through strategic early investments, research excellence and capacity building. These efforts have been pivotal in driving the growth of the life sciences industry in BC. The continued commitment from these organizations promises a bright future for the sector.
Genome BC’s unique position at the intersection of biology, robotics and engineering has catalyzed this growth, contributing to BC’s status as the fastest growing life sciences ecosystem in Canada.
BC is the Place to Invest in Life Sciences
BC’s top talent and world class research capabilities have also attracted substantial investments from the Government of Canada, including the establishment of Canada’s Immuno-Engineering and Biomanufacturing Hub and the Digital Technology Supercluster. These initiatives are a result of the strength and collaboration of BC’s strong research and innovation ecosystem that has benefited from early investment by organizations such as Genome BC and others focused on keeping BC at the forefront of emerging advances in life sciences and technologies.
Genome BC’s alignment with the BC government’s strategy showcases the powerful synergy between government, academia and industry. BC’s unique collaborative model and networks within the life sciences ecosystem are proving successful. The agility and flexibility of our collaborations through world class research are driving results in BC and demonstrating to investors that the province is a compelling place to invest in life sciences and technology. BC’s reputation as a leader is growing because these technologies improve people’s lives and help build a sustainable economy for all.
Supporting Made-in-BC Companies
The life sciences sector in BC is at an inflection point, with made-in-BC companies scaling with the goal of becoming local anchors. Genome BC has been an early investor at different stages of development through our diverse funding opportunities, including the Industry Innovation Fund (I2) and our Entrepreneurship Partnership Program.
The Entrepreneurship Partnership Program has supported startup accelerators and incubator programs in partnership with major universities since 2015. We currently fund six accelerators
within the life sciences sector, with a focus on innovations addressing human health and cleantech challenges.
The I2 Fund offers early stage funding of up to $1.5 million per company to support the commercialization of life science technologies. Genome BC works closely with selected companies to establish a clear pathway to commercialization and connect them with key industry players.
A Promising Future
Looking ahead, Genome BC remains committed to supporting BC’s life sciences ecosystem. Through strategic investments, fostering collaboration and driving innovation, Genome BC will continue to play a pivotal role in ensuring that BC remains a global leader in life sciences, delivering economic and societal benefits for all.
This article appears in Genome BC’s 2023/24 Annual Report. View the whole report here.
