Biotechnology: Fueling Torontos Prosperity Presentation to City of Toronto Economic Development Comm

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Biotechnology Fueling Torontos Prosperity
Presentation to City of Toronto Economic
Development Committee

• Grant Tipler, B.Sc., MBA
• Chair, The Biotechnology Initiative (TBI)
• Head, Life Science Health Services, Royal Bank
  of Canada

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Agenda

• What is Biotechnology?
• Introduction to TBI
• Success Stories from Toronto
• The Current State of Biotech in Toronto
• Canadian Clusters
• International Clusters
• Fueling Torontos Advantage
• Moving Forward

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What is Biotechnology?

• Biotechnology is the application of science and
  technology to living organisms. It is comprised
  of such core technologies as DNA/RNA
  applications, protein and peptides/enzymes, cell
  and tissue culture and engineering, gene and RNA
  vectors, bioinformatics, nanobiotechnology,
  process biotechnologies, and sub-cellular
  processes.
• Examples of innovations from biotechnology
• New vaccines to prevent disease
• Repair of damaged organs and tissues and improved
  detection of diseases
• Treatments for human infertility
• Genetically modified plants with resistance to
  pests
• Bacteria capable of cleaning up oil spills
  biodiversity
• Environmentally friendly biofuels
• Fibers made from biotech products corn, soy

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TBI The Biotechnology Initiative

• Non-profit organization founded in 1989
• Over 400 members representing biotechnology
  companies, academia, research, medical, business
  services and representation from all levels of
  government
• The mission of the TBI is
• To further biotechnology in the City of Toronto
• To further the City of Toronto in the region as a
  major international centre for biotechnology and
• To further TBI as a leading Canadian
  biotechnology industry organization

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Success Stories from Toronto

• Toronto's research community has a long history
  of firsts
• Discovery of insulin by Banting Best
• The heart pacemaker
• Pablum the first scientifically designed baby
  food
• Anti-rabies vaccine

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Recent Toronto Successes

• The Hospital for Sick Children - Dr.
  Hans-Michael Dosch (potential for cure for
  diabetes)
• Amorfix Life Science named 2007 Technology
  Pioneer by the World Economic Forum Dr. George
  Adams
• Ontario Institute of Cancer Research
  recruitment of Dr. Tom Hudson
• World-class Structural Genomics Consortium
  retained Dr. Aled Edwards
• Other recent breakthroughs include the isolation
  of T-Cell and Dopamine receptors, and genes for
  muscular dystrophy, cystic fibrosis, Alzheimers
  disease and breast cancer

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The Current State of Biotech in Toronto

• Torontos biotechnology sector ranks 4th in
  North America in top 10 in the world
• More than 50,000 Jobs 22,000 Medical Care
  Research Related Jobs at 9 Teaching Hospitals and
  30 Specialised Medical and Related Sciences
  Research Centres
• University of Toronto
• One of the Largest Faculties of Medicine in
  North America
• More Medical Faculty and Students/Ph.D.s than
  Harvard
• Medical Research Spending Ranked 4th in North
  America
• U of T York University offer MBA degrees with
  Health Sector majors
• Specialised Financial Business Services
  Supporting the Research Community
• Ontario exported 2.96 billion of
  pharmaceuticals products in 2005

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Canadian Clusters

• Quebec (Montreal, Quebec City, Laval)
• According to KPMG study Montréal offers the most
  advantageous operating costs in the
  pharmaceutical and biotechnology industries in
  North America (700 million in foreign investment
  between 2000-2005)
• Ottawa
• Ottawa Life Sciences Technology Park - 22 acre
  research development park
• Vancouver
• Home of Genome British Columbia and the Michael
  Smith Genome Sciences Center
• Fastest growing biotechnology cluster in Canada
• Other Canadian clusters Edmonton, Calgary

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International Clusters

• US
• Boston, San Diego, San Francisco (Bay Area),
  Raleigh-Durham-Chapel Hill
• Centralized research parks, strong tax
  incentives, good municipal-state-industry
  collaboration, deep understanding of the link
  between economic development and high value jobs,
  venture capital, NCEs, academic institutions
• International
• UK, Germany, Scandinavia
• Home to corporate headquarters of the worlds
  leading biotech/pharma companies, strong
  infrastructure, large market size
• Emerging Competitors
• China, India
• Significant new investments in research and
  manufacturing capacity, aggressive government
  policy focused on attracting growth in life
  science sector, growing markets

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Fueling Torontos Advantage

• Shortage of Specialized Property
• Create more research and lab space to retain
  companies within the City
• Cohesive Municipal and Provincial Economic
  Development Strategy
• Quarterly meetings between Queens Park, City
  Hall Life Science Advisory Committee
• Shortage of seed and venture capital funds
• Tax Incremental Financing - use future gains in
  taxes to finance the current improvements that
  will create those gains
• Encourage province to reinstate the Labour
  Sponsored Venture Capital Program to ensure early
  stage financing is available for our young
  start-up companies and to ensure that they stay
  in Canada
• Attract Canadian industry leaders back to
  Toronto from abroad
• Launch marketing campaign to brand the city as a
  life science destination

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Economic benefits of biotechnology

• 11B in pharmaceutical sales in Canada and more
  than 3B in exports from Ontario

• New therapeutic products keep people out of
  hospitals in a cost effective way

• Products developed here should be made and sold
  here

• 1 life science job 5.7 other jobs

• 1 life science job 132k in taxes

• A vibrant city core 3 Bs

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Competition among jurisdictions for life
sciences sector activity is intenseTo maintain
Torontos position as a global leader we would
like to work with you to address these challenges
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Moving Forward

• Our Thoughts
• Develop a Life Science Advisory Committee to EDC
  of 3-4 senior executives from the private sector
• Establish and coordinate quarterly meetings with
  Ontario Ministry of Economic Development Trade
  and City of Toronto Economic Development
  Committee
• Tour of MaRS, hospital and university research
  labs
• Second meeting continue the dialogue take
  some action
• Your Thoughts, Your Issues?

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Contact Information

• Grant Tipler, Chair, TBI
• grant.tipler_at_rbc.com
• 905-286-7278
• Bill Laidlaw, Executive Director, TBI
• bill.laidlaw_at_torontobiotech.org
• 416 673 8470
• Dale Patterson, Government Relations, TBI
• dpatterson_at_cmdf.com
• 416-482-6487