Innovation Anthology #255:
BioAlberta has chosen National Biotechnology Week to release its state of the industry report.
About 120 biotechnology companies in Alberta were surveyed and the results tabulated by Deloite-Touche.
This report shows no one was immune to the global recession.
According to BioAlberta President Ryan Radke, job loss was about 10 percent and R&D suffered significantly.
RYAN RADKE: Here in Alberta the investment situation has always been a tough one. Even during good times two years ago, we weren’t securing necessarily as much investment as the rest of Canada was. I think here in Alberta we don’t see as much venture capital action as we would like to. Our public companies tend to struggle a little bit on the Toronto Stock Exchange and the venture exchanges. And so we saw a fairly large dip in this area for the 2009 report. Investment capital raised was almost at an all time low. I think it was just over $100 million – which is okay, but for a technology industry that we have here in Alberta, we should be securing a lot more investment than that.
However, Ryan Radke says Alberta biotechnology companies are already looking forward to a recovery in 2010.
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I’M CHERYL CROUCHER
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Program Date: 2009-09-24