Building a sustainable Life Sciences industry in Canada
Gordon McCauley of adMare BioInnovations discusses the pandemic’s impact on investments in the Life Sciences sector (590 words, 5 min)
NPC Healthbiz Weekly is presented to you in cooperation with Peak Pharma Solutions
While Covid-19 has created a substantial increase in the overall attention on the Life Sciences sector in Canada, according to Gordon McCauley of adMare BioInnovations, the pandemic has also generated concern for smaller companies within the sector industry.
McCauley is the President and CEO of adMare BioInnovations, a company that focuses on building Canadian Life Sciences companies, scaling up existing companies and training the next generation of business and scientific leaders.
He notes moves such as the Canadian government’s recent announcement of a $2.2 billion investment in the Life Sciences sector has created a level of attention never seen before in the industry.
“It’s a little bit of a tale of two worlds: you have the highly successful [Life Sciences companies], ones attracting lots of capital and the [smaller companies], who aren’t necessarily in trouble because they’ve had capital invested in them, but the pandemic has slowed down clinical trials,” McCauley (photo below) told listeners on a recent episode of the NPC Podcast, a program for Pharma executives hosted by Peter Brenders. Brenders is the General Manager of BeiGene Canada (Listen to the episode here.)
“[The pandemic has] made it harder to advance through the pipeline of drug development,” McCauley continued. “I’m concerned that there are smaller, more emerging companies that are going to have capital troubles in the not-too-distant future, and we’re certainly here to respond to that.”
McCauley believes the new environment for innovations in healthcare created by the pandemic will be sustainable in the new normal. The momentum in the Life Sciences sector will extend beyond the pandemic.
In addition to the federal government’s investment, he said the sector had seen substantial engagement from provincial governments across the country as well.
“When you look at where that multibillion-dollar investment is focused, it is in areas that are going to make a substantive difference,” McCauley remarked.
He added that the investment would also assist programs such as the Strategic Innovation Fund's (SIF), which aims to spur innovation by funding large projects. The SIF has been used to invest in stem cells, invest in AbCellera, invest in Sanofi and other businesses to provide opportunities to become long-standing companies in Canada, McCauley said.
adMare BioInnovations will also receive federal government funding over the next four years, which will help McCauley and his team invest in Life Sciences companies that require assistance and help with the talent development work adMare BioInnovations conducts through the adMare Academy.
The takeaway: To sustain the momentum in the Life Sciences sector created by the pandemic, McCauley said the industry would have to build on the investment from the federal government.
“[The government is] expecting a significant industry multiplier,” he said. “The SIF, for example, is absolutely a partnership fund that is more than just matching [funds[RAR4] ]. There’s a requirement that private sector investments more than match the government’s [contributions].
Before the recent budget announcement, adMare had received $100 million in investments from the federal government. Still, the company has generated nearly $1.5 billion worth of private sector capital investment, McCauley said.
“I want to give [the government] credit. They’re making significant investments, certainly in the basic research,” he said. “But they’ve also put money on the table and said, ‘Only if there’s really going to be private sector engagement.’”
Further reading: In B.C., the Life Sciences sector is pushing for policy changes to help with growth in the industry, according to a recent article published by Business in Vancouver. Story here.
ANNOUNCING CHRONICLE.ACADEMY’S NEWEST COURSE FOR LIFE SCIENCES PROFESSIONALS
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YOUR HEALTHBIZ WEEK 06/01/21
Roche Canada announced a joint program with BC Cancer and the Canadian Personalized Healthcare Innovation Network to co-create a real-world evidence (RWE) framework in B.C. called the PRecision Oncology Evidence Development in Cancer Treatment (PREDiCT). The PREDiCT initiative will generate and assess RWE, which can be used to help shape new sustainable reimbursement options for personalized cancer treatments. If successful, the collaboration could be a step toward a healthcare system that leverages real-world and clinical trial data to provide proper care options for patients and inform policies that ensure cost-effective access.
AbbVie’s risankizumab is showing potential for the treatment of Crohn’s disease, according to data the company presented at the recent Digestive Disease Week meeting. The data analysis showed that both doses of risankizumab met the co-primary endpoints of clinical remission and endoscopic response at Week 12 compared to placebo in two Phase III studies.
Emergent BioSolutions announced positive data concerning its chikungunya virus virus-like particle (CHIKV VLP) vaccine candidate. The Maryland-based drugmaker said its single-dose vaccine showed strong efficacy two years after the injection. Emergent said the vaccine candidate against CHIKV VLP, the mosquito-borne illness, showed an increased immune response measured by anti-chikungunya virus serum neutralizing antibodies.
NATIONAL PHARMA CONGRESS SUMMER WEBINAR
“Post-Covid Countdown” is the theme of the National Pharma Congress Summer Webinar, scheduled for Tuesday, June 22, 2021. The event follows the recent NPC Spring Webinar, which had 400 registrants. Faculty for the Summer 2021 event are Ronnie Miller (Roche Canada), Melissa Coomey (Gilead Sciences), and Brian Canestraro (Intercept Pharma). Your hosts are: Ben Parry (Pangaea Consultants) and Mitch Shannon (Chronicle Companies.) Be sure to watch the NPC HealthBiz Weekly for updates on the event.
CANADIAN HEALTHCARE MARKETING HALL OF FAME
The Canadian Healthcare Marketing Hall of Fame awards were established in 2002 to honour healthcare marketers who have contributed to our avocation and inspire others.
More than 100 honourees have been selected during the past 18 years. In the selection committee's view, they stand for a representative cross-section of the qualities that make our business unique and fulfilling. Each week, NPC Healthbiz Weekly will acknowledge one past Hall of Fame Honourees.
2011 Inductee
Lorenzo Biondi
Hoffmann-La Roche Ltd., Canada
Mississauga, Ont.
Editor’s note: Lorenzo served as Vice President of Medical & Regulatory Affairs at Hoffmann-La Roche Limited, Canada, until 2015. He is currently a board member at both PAAB and the ImmunoBiochem Corporation.
Lorenzo Biondi, Vice President, Medical & Regulatory Affairs, Hoffmann-La Roche Limited, Canada, set his sights on working in the pharmaceutical industry. After several talks with a visiting professor involved in the formulation of Vaseline Intensive Care Lotion, Biondi concluded that regulatory affairs were a complex and rich area that could provide stimulation and challenge.
Biondi completed an undergraduate degree in pharmacy at the University of Toronto, worked in retail and hospital environments as a pharmacist, and later pursued a graduate degree in pharmacy at the University of Toronto.
“I knew that [working as a pharmacist] was not what I wanted to do,” says Biondi. “I saw the pharmaceutical industry as a place where I could apply the skills I learned toward bringing new products to market. There appeared to be an alignment with the skills we learned in pharmacy and what I could apply in industry.”
Hoffmann-La Roche Limited was an attractive choice to Biondi because the company had an expansive portfolio in many therapeutic areas. He began his career in the laboratory for Hoffmann-La Roche and moved into the regulatory affairs department after a couple of years.
“I got involved globally with how we processed regulatory files early in my career,” explains Biondi. “We wanted to design a better model to prepare submissions. This initiative led to a system of global coordination and collaboration still in place today. We now have a more centralized procedure, so countries are not left to fend for themselves.”
Biondi is responsible for ensuring the company is compliant with the Rx&D code and similar corporate policies, leading the establishment of operating procedures and best practices for Phase 3b and IV studies, advisory boards, consultancies, and continuing medical education. He has held the position of Chairperson for the Canadian Association of Professional Regulatory Affairs, Medical Research and Development Section, and Regulatory Issues Advisory Committee of Rx&D, and Biologics and Regulatory Affairs Group of BIOTECanada.
“Compliance requires documentation and process checks,” says Biondi. “People in today’s world demand transparency. If funds are being given to individuals in healthcare for services or support, there is an expectation that this is transparent.”
Biondi had recently gained a greater perspective on how hospitals operated when he joined the hospital board pursuing a new construction in Oakville, Ont., where he resides.
“I have gained a new appreciation of how complex decisions are and relations between staff and physicians,” says Biondi.
Biondi finds himself the exception at one firm for nearly 30 years rather than the rule among his counterparts, but he has no regrets about staying with the same employer.
“My career has been rewarding and rich,” says Biondi. “I have come to work every day and felt challenged. I feel that I am contributing to moving the company forward, and I recognize the meaning of the products we bring to market and the impact they have on people.”
As well-defined and specialized markets become the norm in the industry, Biondi observes that the trend does not have to impact the bottom line for marketers negatively.
“If your customer base is not large, you don’t need to spend large dollars [to advertise] to be heard above the noise,” explains Biondi. “You just need more than one or two key products.”
A NEW PODCAST
“NPC Podcast Presents: Next in Pharma” is coming soon to a podcast download site near you. The first episode, “AI-Powered Analytics,” is hosted by Michael Cloutier. Mike’s guests are Martin Booth, Director of Analytics and Data Excellence at AstraZeneca; Omer Ariburnu, Affiliate Head of Customer Excellence and Operations at Biogen; and Shawna Boynton, Omnichannel Marketing Manager at Novo Nordisk. “NPC Podcast Presents: Next in Pharma” is presented in co-operation with our friends at ODAIA.ai
NEXT WEEK
The 06/08 edition of NPC Healthbiz Weekly will feature Bob McLay, Vice President and GM of Sobi Canada, about developing and manufacturing innovative therapies for rare diseases. It’s easy to get your no-charge subscription and have the issue sent to your phone or inbox each Tuesday at 6:00 a.m. sharp.
Stay safe, stay sure, and stay on your game. We’ll see you again next Tuesday.