OTTAWA, Ontario–(BUSINESS WIRE)–BIOTECanada welcomes the federal budget’s focus on advancing Canada’s life sciences sector through investment and regulatory modernization. As Canada navigates a challenging global economy, the industry stands as a key driver of sustainable growth, high-value employment, and long-term economic resilience. Globally, governments are recognizing life sciences as a strategic sector for economic growth and national security, and Canada is well-positioned to capitalize on its existing momentum. The sector supports thousands of skilled jobs across the country, attracts significant international investment, and delivers the innovations that strengthen Canada’s health, economic, and defence security.
“Prioritizing the life sciences sector as a specific directive for the $1-billion Venture Capital Catalyst Initiative (VCCI), the expansion of SR&ED eligibility, and the commitment to creating a more competitive regime to protect and enhance Canadian intellectual property, combined with the dual-use technologies commitments, the government clearly recognizes the sector as a strategic driver of Canada’s economy,” said Wendy Zatylny, President and CEO of BIOTECanada. “A strong life sciences sector depends on a full policy continuum—from early-stage research supported through SR&ED, to scale-up investment through private capital and programs like the VCCI. The measures announced today strengthen that continuum, helping companies grow in Canada, attract global investment, and anchor more of the value chain at home,” added Zatylny.
These policy measures reflect the advocacy work by BIOTECanada, with federal officials, to highlight the essential role biotechnology plays in Canada’s economy and competitiveness.
Building on this progress, continued collaboration between government and industry will be key to turning these commitments into long-term growth and global competitiveness, and a stronger foundation for Canada’s life sciences leadership.
BIOTECanada is the national industry association voice. With over 200 member companies, the Association’s membership is representative of the broader Canadian biotech ecosystem which is national in scope and comprised of pre-commercial biotech companies, global pharma and biotech companies, investors, incubator and accelerator organizations, and academia. In the context of global population growth and corresponding climate change, food sustainability, and human health needs, the biotechnology industry plays a vital role in developing solutions to help address the resulting human health and environmental challenges. Visit: biotech.ca
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