adMare BioInnovations is a Canadian life sciences organization focused on advancing biotech innovation by providing resources, expertise, infrastructure, and support to emerging companies in the sector.
Gordon, adMare BioInnovations believes Canada can become a global biotech hub. What needs to happen for this to materialize?
Our vision is for Canadian life sciences to lead the world. To achieve this, there are several fundamental steps, and while progress has already been made, the biggest roadblock remains the lack of anchor companies. Canada is the only advanced pharma market without a research-based anchor company in drug development. Given the science, infrastructure, and knowledge we have here, there is no reason we should not develop these companies. The key to creating these companies lies in inspirational leadership, as seen with leaders like Carl Hansen at AbCellera or Ian Mortimer at Xenon, who have the capacity to attract talent and build successful companies in Canada.
However, it is not just about creating anchor companies; it is also essential to maintain a balanced ecosystem. Foreign investments, such as the recent expansions by AstraZeneca and acquisitions by companies like GSK are important. While these are positive developments, they do not fill the gap left by the absence of anchor companies. To succeed, Canada needs a presence of both large global players and homegrown companies that can provide leadership in the life sciences sector.
Do you find that Canada’s regulatory approval timelines are too extended, hampering the potential for more homegrown innovators?
Yes. The time to first regulatory approval and, more importantly, time to payer agreement in Canada is longer than it should be. This is a key area where we can improve. From a regulatory perspective, Canada needs to position itself as a leader in terms of approval times while maintaining safety standards. Being at the top of the list in terms of approval speed is critical for attracting more investments and fostering innovation.
The issue of payer agreements, with different decisions made across provinces, also contributes to the inefficiency. Streamlining the regulatory process, perhaps with fewer IRB approvals and more interprovincial cooperation, would help accelerate the timeline. Canada has the opportunity to seize this moment and transform the regulatory landscape, making it more efficient and attractive for global biotech companies to bring new therapies to market.
What is adMare Bioinnovations doing to support biotech funding in Canada?
While the global biotech funding landscape has been tough recently, there is still more capital available for life sciences than ever before. At adMare, we focus on ensuring that the science we work with is globally competitive and commercially relevant. By helping companies build robust scientific data, we increase their attractiveness to global investors. Our goal is to make sure that emerging biotech companies have the foundational support needed to draw in investment, even in a challenging market.
In addition to funding, we invest in developing leadership within the biotech sector. The adMare Academy Executive Institute, which has been running for seven years, has helped cultivate over 125 leaders in the field. These leaders play a key role in making companies more attractive to investors. By fostering both solid science and strong leadership, we ensure that companies like Epitopea and Domain Therapeutics have the support they need to succeed and grow.
Could the current political climate in the US present an opportunity for Canada to attract biotech companies?
Canada has a significant opportunity in light of the current political and economic climate in the US. The stability of Canada’s regulatory environment, combined with its robust scientific infrastructure, offers a strong foundation for biotech companies. Canada’s scientific output consistently ranks well globally, and its infrastructure supports collaboration, which is essential for biotech success. The industry's ability to follow and act on data is a key characteristic of successful companies, and Canada is well-positioned to offer an environment that supports this.
In addition, Canada's collaborative nature is an advantage. While geographically challenging, the country's experience in working across vast distances to build networks is a significant strength. Biotech companies already work in distributed, often remote, environments, making the shift to a hybrid or remote model relatively easy. This opens up the potential for attracting specialized talent from global biotech hubs. Given these factors, Canada has the opportunity to become an even more attractive destination for biotech companies seeking a stable, innovative environment.
Can you tell us about your research on hybrid work and its impact on innovation?
The thesis I am working on explores the impact of hybrid work on innovation, particularly in the biotech sector. In our business, half of the employees work in labs and the other half work remotely, but the real innovation happens when these two groups collaborate. This has inspired my research, and it is particularly relevant in an applied research setting where the work must have a practical impact. Hybrid work presents unique advantages for biotech companies, especially in Canada, where collaboration is essential to success. The adoption of hybrid work technologies in recent years has made it possible for companies to connect and work with specialized talent globally.
One of the key advantages of hybrid work in Canada is its ability to overcome geographical challenges. Canada’s vast size means that we often have to work with people across the country, which has already fostered a culture of collaboration. Moreover, hybrid work makes it easier to attract specialized talent, as people no longer have to relocate to biotech hubs like San Francisco or Boston. This shift in work dynamics provides a new opportunity for Canada to build anchor companies and access global talent without the physical constraints that previously existed.
