Life Sciences and Financial Services in...
Transcript of Life Sciences and Financial Services in...
Ontario Life Sciences and Financial Services in
Ministry of Economic Development and Innovation
Toronto Investment Services Day April 24th, 2012
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Why Ontario?
In 2011, Forbes magazine ranked Canada #1 in its list of
"Best Countries for Business". Forbes.com. "Best Countries for Business: #1 Canada", October 3, 2011.
The Financial Times' fDi Intelligence ranked Ontario, Canada
as the top North American jurisdiction for FDI projects
relative to population in 2010.
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Ontario’s
Life Science Sector
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Pharmaceutical Exports
Canada's pharmaceutical and medicine manufacturing exports
Rest of Canada
10%Quebec
17%
Ontario
73%
• Canada exported $5.9 billion in pharmaceutical and medical manufacturing
products in 2011, with Ontario accounting for the majority
Source: Statistics Canada
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ONTARIO: A Major Life Sciences Hub
Sources: Rx&D, CGPA, HTX, Ernst & Young and Statistics Canada
SECTORS SAMPLE
INDUSTRIES EMPLOYEES REVENUE
PHARMA
Brand and Generic
GSK, Pfizer,
Apotex, Teva 15,500+ $ 8.3 Billion
BIOTECHNOLOGY Amgen, Genzyme 5,000+ $ 2.8 Billion
MEDICAL ASSISTIVE
DEVICE
Baxter,
Johnson &
Johnson,
22,000+ $ 4.0 Billion
CLINICAL SERVICES Patheon, Abbott 3,500+ N/A
TOTAL 46,000+ $ 15.1 Billion
In 2009, “Fierce Biotech” named Ontario one of the top five places in North America for biotech.
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Life Science Companies in Ontario
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Recent Ontario Investments
Company Investment Details
GlaxoSmithKline (UK) $79.5M in capital infrastructure for 24 new manufacturing mandates and creation of 225
new jobs
Sanofi Pasteur (France) $480M for research into new vaccines for cancer and whooping cough and expansion of
manufacturing facilities
AstraZeneca (UK) $250M investment over ten years for facility expansion
Ranbaxy (India) $32M Canadian headquarters and clinical research
Apotex (Canada) $627M investment in a new state-of-the-art research, development and manufacturing
facility and creation of 1,500 new jobs
Roche Canada (US) A nearly $200M investment creating a staff of 200 will manage all clinical trials for new
drugs in co-operation with the companies 5 existing global research centers.
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Ontario – Renown for Clinical Trials
• 10,000 plus researchers
• Well established CROs and networks
• Large multi-ethnic population
• Centrally managed public healthcare system
facilitates patient recruitment & tracking
• Data from Ontario clinical trials recognized by
U.S. and E.U. authorities
• Costs for clinical trials are lower than in the US
• Many trials networks including those for:
Various Cancers, Cardiovascular,
Rheumatology, Stroke, Epilepsy, Urology,
Emergency Medicine and HIV
Cancer Clinical Trials
Over 1,100 cancer clinical trials underway in
Ontario
Ontario Research Ethics Board facilitates
scientific and ethical review of multi-centre
oncology trials, facilitating faster approval
process to initiate a clinical study
On-line system that tracks all cancer trials in
Ontario
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Toronto’s Discovery District: Canada’s Largest Research
Cluster – Spending over $1 Billion / Year in Research, Third
Largest Medical-Hospital Complex in North America
Source: TRRA, 2008
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MaRS Centre Phase II (2012)
750,000 square feet (69,700 m2)
Li Ka Shing Knowledge Institute (2011)
240,000 square feet (22,300 m2) facility for translational
research, clinical research, and
community & global health research
Krembil Discovery Tower (2012)
250,000 square feet (23,200 m2) research labs for
neuroscience research
Sick Children’s Hospital Research Tower (after 2014)
650,000 square feet (60,400 m2), 24 storey research tower
Centre for Addiction and Mental
Health (5 phases: 2008-2020)
27 acre (11 hectare) hub for research, and health care
training; Integrated into mixed use urban community.
McMaster Innovation Park
(7 phases: 2008-2018)
37 acre (15 hectare) research park with over 1 million square
feet (92,900 m2) of research and office space
New Toronto-Based Research Facilities
MaRS Centre
700,000 square feet (65,050 m2) science
park, business incubator and
Commercialization centre
Toronto Centre for Phenogenomics
120,000 square feet (11,100 m2) state-of-
the-art mouse facility
Terrence Donnelly Centre for Cellular &
Biomolecular Research
221,000 square feet (20,550 m2) centre for
integrative biology, disease modeling, and
functional imaging
Leslie Dan Pharmacy Building
167,000 square feet (16,500 m2) research
And teaching laboratories
Recent Developments Under Development
Source: Toronto Region Research Alliance; Toronto Region Pharmaceutical Sector Overview, Slides 17-18, August 7, 2009.
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A History of Discovery and Innovation
1922
Discovery of Insulin Frederic Banting/George Best, University of Toronto
1963
1st Stem Cell Discovery (Haematopoietic)
James Till and Ernest McCulloch, University of Toronto
1984
Cloned 1st T-Cell Receptor Tak Mak, University of Toronto/Princess Margaret Hospital
1995
1st Alzheimer’s
Gene Identified Peter St. George-Hyslop, University of Toronto
1997
1st Cancer Stem
Cell Discovery John Dick, University of Toronto
2001
Discovery of
Pain Gene Michael Salter, Hospital for Sick Children
2009
Viral-free iPS Cell
Andras Nagy, Mount Sinai
Hospital
1949
Pioneers 1st Pacemaker John Hopps, University of Toronto
1983
1st Successful Lung
Transplant Joel Cooper – University of Toronto
Other Notable Discoveries: ► Creation of Blackberry (1999)
► 1st Remote Robotic Surgery (2003)
► Dopamine D1, D2, D4, D5 Receptors (1990s)
► SH2 Domain (1986)
► Gene for Breast Cancer (2003)
►1st Hi-resolution Electron Microscope (1938)
► Gene for Epilepsy (2003)
►Gene for Cystic Fibrosis (1989)
Dr. Andras Nagy examines freshly induced human pluripotent stem
cells from skin. (Photo by Rick Eglinton/Toronto Star, March 2, 2009).
“Ontario is able to offer a highly
skilled pool of engineers,
chemists, physicists, MBAs and
PhDs to help us win and
manufacture innovative
productive mandates.”
Paul Lucas, President and CEO
of GSK Canada
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Resources & Funding Programs
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Resources
Industry Associations
OHTAC (Ontario Health Technology Advisory
Committee)
www.ohtac.com
MEDEC (Canada’s Medical Technology
Companies)
www.medec.org
Life Sciences Ontario (LSO)
www.ontbi.org
Regulatory Information
Health Canada
www.hc-sc.gc.ca
Government Programs and Support
Health Technology Exchange
www.htx.ca
Research and Development Tax Credits
www.cra-arc.gc.ca
Ontario Emerging Technologies Fund
www.ontario.ca/ocgc
Canadian Surgical Technologies and Advanced
Robotics (CSTAR)
http://www.lhsc.on.ca/About_Us/CSTAR/
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HTX Funding Programs
Programs available for Ontario-based companies, including Ontario subsidiaries of MNEs
• Innovation and Development Program
• Up to $100,000
• Technology Acceleration Program
• Up to $750,000
• Technology Implementation Program
• Up to $100,000
• Ontario Sells Program
• Up to $50,000
• Ontario Flagship Program
• Up to $2.25M
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Apprenticeship Training Tax Credit
• $10,000 per apprentice/year for up to 4 years ($40,000/apprentice over 4 years)
• Job must fall under an eligible apprenticeship program
• Case Study:
• Abbott Point of Care: Rapid Blood Analysis Products
• 400 employees enrolled in the Microelectronics Apprenticeship Training Program
• $4M Tax Credit/year
• Read More
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Ontario Emerging Technologies Fund (OETF)
• Managed by the Ontario Capital Growth Corporation (OCGC)
• 5 year, $250M direct investment fund to encourage investment into
innovative, high growth, Ontario-based companies in the following
sectors: life sciences, advanced health technologies, clean
technology, digital media and ICT.
• OETF will co-invest alongside qualified investors in privately-held
companies seeking to raise $1-15M.
• The fund will follow the market-based assessment made by the
qualified investors who bring potential deals to the OCGC for
consideration.
• Companies seeking capital should contact the qualified investors
approved by the OCGC.
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Ontario’s
Financial Services Sector
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Ontario is a prime North American location for
Financial Services
358,000 employed in Financial Services.
$5.4 billion in foreign direct investment into Financial Services in 2010, an increase
of 7% over the previous year.
80% f the Canada’s investment management industry, representing $700 billion in
assets under management.
89% of foreign banks operating in Canada have established their Canadian
headquarters in Toronto area.
58 pension fund managers including five with combined assets of more than
US$300 billion
190 insurance companies including two of the largest 10 global life insurers and
three of the four largest P&C insurers in Canada.
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Toronto ranks 10th among global financial centres
GFCI 10 Rankings* 1 London
2 New York
3 Hong Kong
4 Singapore
5 Shanghai
6 Tokyo
7 Chicago
8 Zurich
9 San Francisco
10 Toronto 11 Seoul
12 Boston
13 Geneva
14 Washington D.C.
15 Sydney
16 Frankfurt
17 Vancouver
18 Melbourne
19 Beijing
20 Montreal
*Source: The Global Financial Centres Index (GFCI) provides profiles, ratings and rankings for 75 financial centres. (Sept. 2011)
The largest financial hub in Canada and home to:
221,000 Financial Services (FS) jobs in 2010
3 of the world’s largest 25 banks (and Canada’s top 5)
4 of the 5 largest investment management firms in Canada
2 of the largest global life insurers
3 of the 4 largest property and casualty insurers in Canada
7 of the 10 largest global hedge fund administrators
50 of 56 foreign banks operating in Canada
3rd largest FS centre in North America after New York and
Chicago
7th largest exchange in the world
Ranks 8th among fortune global 500 cities
Consistent top 15 GFCI ranking globally
Ranks 2nd by PWC among 26 cities as global business centres
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Banking Insurance Financial Services
A powerful & diversified presence of global leaders
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Source: OCRI, CTT, Communitech, TRRA
Toronto
Ottawa-Hull
Hamilton
Kitchener-Waterloo
Legend= Total Establishments
• More than 3,300 ICT companies and
144,000 employees, with leaders in
every sector particularly in the
Interactive Digital Media sector.
• More than 1,850 ICT companies and 79,000
employees, with particular strength in
telecommunications equipment and networking,
computer software & photonics, and
microelectronics
• More than 450 ICT companies
and 26,000 employees, with
particular strength in software,
microelectronics and
telecommunications
ICT Clusters: The Ontario Technology
Corridor
London
Niagara
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23 of the Top 25 ICT MNEs in Canada are located in Ontario
Source: Branham300
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Recent announcements:
Huawei “Huawei has created more than 250 jobs in Canada, approximately 70 percent of which are based in Markham,
Ontario. Over the next two years, Huawei is expected to add 280 new jobs in Canada.”
- Official opening of its Markham HQ – jan.18,2011
Cisco “Cisco Systems Inc. will add 300 jobs in Ontario, including at its Ottawa research and development facility.”
- Ottawa Business Journal, Aug.17, 2011
Take-2
Interactive
With support from the province, Rockstar Games is establishing a world-class game development studio in
Oakville. Expansion will create 75 new jobs
Google Since it purchased mobile development firm Reqwireless in 2005, staff has grown to roughly 100 with a recent
ribbon cutting on its new 34,000 square-foot facility in Kitchener.
- Canoe.ca – Thursday, Feb. 23, 2011
Ubisoft New studio will focus on developing triple-A video games, creating more than 800 jobs over the course of the
next 10 years
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Why Ontario?
Strong Clusters with Federal and Provincial sectors support
strategies (i.e.: ONE Network)
Leading edge technologies, manufacturing and research
Highly educated workforce amongst the G8 who connect daily to
global researchers.
Operating costs and taxes are lower than the US (lower statutory
taxes, corporate taxes) with access to North American sales market
(NAFTA).
Generous R&D tax credits.
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Contact Us For:
Claude Myre
Team Leader
Ministry of Economic Development and Innovation
Investment Division
Science, Technology and Services Branch
T: (416) 325-6811
Visit us at: www.investinontario.com
The latest information on our economy and business
climate
Comprehensive profiles of Ontario municipalities
Province-wide site searches of available industrial land
and buildings
Coordination of site selection and community visits
Available commercial real estate, region-specific wage
data, up-to-date demographic information on education
levels and workforce skills, and more through a
convenient web-based site selection tool
Immigration procedures related to work permits and
international staff transfers of senior management and
key personnel into Ontario
Contacts with federal, provincial and municipal
officials, as well as utilities, transportation firms and
business facilitators