Life sciences in Alberta | Table of contents Reports/BioAlberta SOI 2017.pdfindustry sectors such...

Life sciences in Alberta | Table of contents

Life sciences in Alberta State of the industry 2017


i © Deloitte LLP and affiliated entities.

Table of contents

Executive summary 1

Background and methodology 2

Overview of companies 3

Research and development spending 9

Human resources 10

Revenue 12

Financing 14

Issues facing the industry 16

Industry participation 18

Need more information? 20


i © Deloitte LLP and affiliated entities.

Table of contents

Executive summary 1

Background and methodology 2

Overview of companies 3

Research and development spending 9

Human resources 10

Revenue 12

Financing 14

Issues facing the industry 16

Industry participation 18

Need more information? 20

Life sciences in Alberta | Executive summary

1 © Deloitte LLP and affiliated entities.

Executive summary The BioAlberta state of the industry (“SOI”) report is a biennial survey of life sciences companies in Alberta.

It was developed to review the current status and trends related to the nature, health, economic contribution, innovation, and outlook for Alberta’s life sciences industry.

Alberta’s life sciences sector is a major source of highly skilled employment, innovation, and economic diversification. Responsible for nearly $700 million in revenues and over 16,000 full time positions in 2017, the industry is a significant contributor to Alberta’s highly skilled, knowledge and innovation-driven economy. Composed of a large number of start-ups and small businesses that complement an established set of mature firms, the sector is a dynamic mix of both large and small players. Alberta’s life sciences sector is well diversified in its end markets, with 42% of revenue being sourced from within the Province, 43% from US and international markets, and 15% from the rest of Canada.

This year’s survey was sent to more than 230 Alberta companies, a significant growth from previous years, and a signal that the number of companies in the sector has expanded. Of those, 165 respondents reported a significant increase in both

research & development (“R&D”) spending and capital raised.

By the end of 2017, aggregate R&D spending is expected to increase by over 200% from 2014, while the corresponding amount of capital raised is expected to increase by nearly 230% in the same period. This implies that the industry is preparing for a growth surge by investing now in the development of new products and services.

For the third report in a row, and despite the growth in capital raised in 2016, respondents identified financing and funding as the primary issues facing the industry. Improving access to venture, angel, corporate, and institutional financing and the ease of applying for provincial granting programs continue to be a challenge for the industry. With indicators suggesting that the industry is poised for a significant period of growth, the need to improve the investment climate across the sector continues to be an important issue for Alberta companies.

Addressing these challenges will support the industry in continuing to build on its historical strengths as an important source of research, commercialization, and highly skilled employment, and

sustainable growth in the province.

Alberta’s life sciences sector is a major source of highly skilled employment, innovation, and economic diversification.

Life sciences in Alberta | Background and methodology


The intent of this report is to stimulate dialogue, provide a current snapshot of the industry and offer directional support for business leaders and government agencies. Our long-term objective it to help the life sciences industry in Alberta grow.

The life sciences industry includes companies and organizations that: Use biotechnology or biological

processes to develop products that improve health and well-being;

Develop applications to improve the diagnosis, prevention, and treatment of disease;

Create new agricultural alternatives; and

Revolutionize traditional industry sectors such as oil and gas or information technology

This year’s report includes life sciences companies and organizations active in the following sectors: Agricultural biotechnology Environmental biotechnology Health biotechnology and

pharmaceuticals Industrial biotechnology and

bioprocessing (also referred to as biofuels, biorefining, and clean technology)

Medical technology and devices

Functional foods and natural health products

The intent of this report is to review and communicate the state of the life sciences industry in Alberta. Survey respondents provided feedback on the current status of their company’s products, position and growth expectations. The survey was distributed electronically to over 230 life sciences company representatives. In certain cases, respondents have chosen not to answer all questions.

Caution should be used in extrapolating these results to the entire population of companies in the industry. The results are intended to stimulate dialogue, provide a current snapshot of the industry, and offer directional support for business leaders and government agencies to help the life sciences industry in Alberta grow. Of the 230 companies’ surveyed, partial or complete results were compiled from 165, providing a response rate of 70%.

Background and methodology In the spring of 2017, BioAlberta and Deloitte LLP (“Deloitte”) surveyed leaders of life sciences companies located in Alberta. Those surveyed represent businesses from small start-ups to large public companies, and included research and development companies, manufacturers, service companies, consultants and distributors of life sciences products.

Life sciences in Alberta | Executive summary


Executive summary The BioAlberta state of the industry (“SOI”) report is a biennial survey of life sciences companies in Alberta.

It was developed to review the current status and trends related to the nature, health, economic contribution, innovation, and outlook for Alberta’s life sciences industry.

Alberta’s life sciences sector is a major source of highly skilled employment, innovation, and economic diversification. Responsible for nearly $700 million in revenues and over 16,000 full time positions in 2017, the industry is a significant contributor to Alberta’s highly skilled, knowledge and innovation-driven economy. Composed of a large number of start-ups and small businesses that complement an established set of mature firms, the sector is a dynamic mix of both large and small players. Alberta’s life sciences sector is well diversified in its end markets, with 42% of revenue being sourced from within the Province, 43% from US and international markets, and 15% from the rest of Canada.

This year’s survey was sent to more than 230 Alberta companies, a significant growth from previous years, and a signal that the number of companies in the sector has expanded. Of those, 165 respondents reported a significant increase in both

research & development (“R&D”) spending and capital raised.

By the end of 2017, aggregate R&D spending is expected to increase by over 200% from 2014, while the corresponding amount of capital raised is expected to increase by nearly 230% in the same period. This implies that the industry is preparing for a growth surge by investing now in the development of new products and services.

For the third report in a row, and despite the growth in capital raised in 2016, respondents identified financing and funding as the primary issues facing the industry. Improving access to venture, angel, corporate, and institutional financing and the ease of applying for provincial granting programs continue to be a challenge for the industry. With indicators suggesting that the industry is poised for a significant period of growth, the need to improve the investment climate across the sector continues to be an important issue for Alberta companies.

Addressing these challenges will support the industry in continuing to build on its historical strengths as an important source of research, commercialization, and highly skilled employment, and

sustainable growth in the province.

Alberta’s life sciences sector is a major source of highly skilled employment, innovation, and economic diversification.

Life sciences in Alberta | Background and methodology


The intent of this report is to stimulate dialogue, provide a current snapshot of the industry and offer directional support for business leaders and government agencies. Our long-term objective it to help the life sciences industry in Alberta grow.

The life sciences industry includes companies and organizations that: Use biotechnology or biological

processes to develop products that improve health and well-being;

Develop applications to improve the diagnosis, prevention, and treatment of disease;

Create new agricultural alternatives; and

Revolutionize traditional industry sectors such as oil and gas or information technology

This year’s report includes life sciences companies and organizations active in the following sectors: Agricultural biotechnology Environmental biotechnology Health biotechnology and

pharmaceuticals Industrial biotechnology and

bioprocessing (also referred to as biofuels, biorefining, and clean technology)

Medical technology and devices

Functional foods and natural health products

The intent of this report is to review and communicate the state of the life sciences industry in Alberta. Survey respondents provided feedback on the current status of their company’s products, position and growth expectations. The survey was distributed electronically to over 230 life sciences company representatives. In certain cases, respondents have chosen not to answer all questions.

Caution should be used in extrapolating these results to the entire population of companies in the industry. The results are intended to stimulate dialogue, provide a current snapshot of the industry, and offer directional support for business leaders and government agencies to help the life sciences industry in Alberta grow. Of the 230 companies’ surveyed, partial or complete results were compiled from 165, providing a response rate of 70%.

Background and methodology In the spring of 2017, BioAlberta and Deloitte LLP (“Deloitte”) surveyed leaders of life sciences companies located in Alberta. Those surveyed represent businesses from small start-ups to large public companies, and included research and development companies, manufacturers, service companies, consultants and distributors of life sciences products.

Life sciences in Alberta | Overview of companies


Where in Alberta is your company located? The majority (89%) of Alberta’s life sciences companies are located within the province’s largest metropolitan areas of Edmonton and Calgary. Of those, 51% are located within the Edmontonl Region, and 38% in the Calgary area. Eleven percent are located in other areas across the province in cities such as Lethbridge, Red Deer, and Grand Prairie. The Calgary region has grown from 35% in 2015, and other regions from 5% in 2007.

When was your company established? Thirty-two percent of companies in the industry were founded within the past six years, and another 29% within the five years before that. This compares to 22% of companies that were founded in the year 2000 or earlier. This paints a picture of a sector that is ripe with start-up activity, buoyed by a core base of established firms.

Overview of companies

13%9%

17%

29%32%

0%

5%

10%

15%

20%

25%

30%

35%

% o

f co

mpa

nies

Year established

51%

38%

11%

Edmonton Calgary Other



In which category would your company be classified? R&D continues to be the largest category of companies (37%), followed by manufacturing (27%). There has been growth in the distributor, wholesaler or retailer category, up from 9% in 2015.

37%

27%

16%

15%

5%

Research and development

Manufacturing

Consulting, contract researchor other service provider

Distributor, wholesaler orretail

Other

In which sub-sector of the industry would your company be classified? The two largest life sciences sub-sectors in Alberta are medical technology and devices and health biotechnology and pharma. A combined 64% of survey respondents classified their business within one or both of these sub-sectors.

The functional food and natural health products sub-sector reported the largest growth, up 19% from 7% in 2015.

Note: survey respondents were able to self-classify in more than one sub-sector.

37%

27%

19%17%

16%

10%

7%

13%

0%

5%

10%

15%

20%

25%

30%

35%

40%

Med

ical

tec

hnol

ogy

and

devi

ces

Hea

lth b

iote

chno

logy

and

phar

ma

Func

tiona

l foo

d &

nat

ural

heal

th p

rodu

cts

(FFN

HP)

Agr

icul

tura

lbi

otec

hnol

ogy

Indu

strial

bio

tech

nolo

gyan

d bi

opro

cess

ing

Hea

lth I

T

Envi

ronm

enta

lbi

otec

hnol

ogy

Oth

er

Tota

l per

cent

age

of c

ompa

nies

(%

)



Where in Alberta is your company located? The majority (89%) of Alberta’s life sciences companies are located within the province’s largest metropolitan areas of Edmonton and Calgary. Of those, 51% are located within the Edmontonl Region, and 38% in the Calgary area. Eleven percent are located in other areas across the province in cities such as Lethbridge, Red Deer, and Grand Prairie. The Calgary region has grown from 35% in 2015, and other regions from 5% in 2007.

When was your company established? Thirty-two percent of companies in the industry were founded within the past six years, and another 29% within the five years before that. This compares to 22% of companies that were founded in the year 2000 or earlier. This paints a picture of a sector that is ripe with start-up activity, buoyed by a core base of established firms.

Overview of companies

13%9%

17%

29%32%

0%

5%

10%

15%

20%

25%

30%

35%

% o

f co

mpa

nies

Year established

51%

38%

11%

Edmonton Calgary Other



In which category would your company be classified? R&D continues to be the largest category of companies (37%), followed by manufacturing (27%). There has been growth in the distributor, wholesaler or retailer category, up from 9% in 2015.

37%

27%

16%

15%

5%


Manufacturing

Consulting, contract researchor other service provider

Distributor, wholesaler orretail

Other

In which sub-sector of the industry would your company be classified? The two largest life sciences sub-sectors in Alberta are medical technology and devices and health biotechnology and pharma. A combined 64% of survey respondents classified their business within one or both of these sub-sectors.

The functional food and natural health products sub-sector reported the largest growth, up 19% from 7% in 2015.

Note: survey respondents were able to self-classify in more than one sub-sector.

37%

27%

19%17%

16%

10%

7%

13%

0%

5%

10%

15%

20%

25%

30%

35%

40%

Med

ical

tec

hnol

ogy

and

devi

ces

Hea

lth b

iote

chno

logy

and

phar

ma

Func

tiona

l foo

d &

nat

ural

heal

th p

rodu

cts

(FFN

HP)

Agr

icul

tura

lbi

otec

hnol

ogy

Indu

strial

bio

tech

nolo

gyan

d bi

opro

cess

ing

Hea

lth I

T

Envi

ronm

enta

lbi

otec

hnol

ogy

Oth

er

Tota

l per

cent

age

of c

ompa

nies

(%

)



For your medical technology and devices product, in which phase of development is your lead product? In line with the 2015 SOI Report, the largest number (40%) of medical technology and devices companies reported having their lead product in the market. This was followed by 14% in scale-up manufacturing, and 13% in product engineering.

9%

13%

13%

11%14%

40%


Product engineering

Product demonstration orprototype

Regulatory approval

Scale-up manufacturing

Marketed product

For your health biotechnology and pharmaceutical product, in which phase of development is your lead product? Overall, the structure of this sub-sector is well balanced with an even proportion of companies reporting products at each stage of the development continuum. We note that there are fewer phase 1 companies than each of phase 2 and 3. Thirty-four percent of companies have a product in the research and development stage, 36% in later development stages including pre-clinical trials, and 20% report having a marketed product.

34%

16%

5%

9%

7%

20%

9%


Pre-clinical trials

Phase 1

Phase 2

Phase 3

Marketed product

Other



For your health IT product, in which phase of development is your lead product? Sixty-three percent of companies with a health information technology (“IT”) product reported having a marketed product, up from 23% in the 2015 SOI Report, signifying a greater degree of maturity in this segment. The mature sector is supported by 31% of companies with a product in the middle to advanced development stages of engineering and prototyping.

6%

25%

6%63%


Product engineering


Marketed product

For your agricultural biotechnology, natural health or functional food product, in which phase of development is your lead product? The majority (52%) of agricultural biotechnology, and natural health or functional food segments reported having a marketed product. This was followed by 25% in the scale-up manufacturing stage, and 21% in research and development.

21%

2%

25%

52%


Regulatory approval


Marketed product



For your medical technology and devices product, in which phase of development is your lead product? In line with the 2015 SOI Report, the largest number (40%) of medical technology and devices companies reported having their lead product in the market. This was followed by 14% in scale-up manufacturing, and 13% in product engineering.

9%

13%

13%

11%14%

40%


Product engineering


Regulatory approval


Marketed product

For your health biotechnology and pharmaceutical product, in which phase of development is your lead product? Overall, the structure of this sub-sector is well balanced with an even proportion of companies reporting products at each stage of the development continuum. We note that there are fewer phase 1 companies than each of phase 2 and 3. Thirty-four percent of companies have a product in the research and development stage, 36% in later development stages including pre-clinical trials, and 20% report having a marketed product.

34%

16%

5%

9%

7%

20%

9%


Pre-clinical trials

Phase 1

Phase 2

Phase 3

Marketed product

Other



For your health IT product, in which phase of development is your lead product? Sixty-three percent of companies with a health information technology (“IT”) product reported having a marketed product, up from 23% in the 2015 SOI Report, signifying a greater degree of maturity in this segment. The mature sector is supported by 31% of companies with a product in the middle to advanced development stages of engineering and prototyping.

6%

25%

6%63%


Product engineering


Marketed product

For your agricultural biotechnology, natural health or functional food product, in which phase of development is your lead product? The majority (52%) of agricultural biotechnology, and natural health or functional food segments reported having a marketed product. This was followed by 25% in the scale-up manufacturing stage, and 21% in research and development.

21%

2%

25%

52%


Regulatory approval


Marketed product



For your environmental biotech, industrial biotechnology, or bioprocessing technology and/or product, in which phase of development is your lead technology or product? Forty-six percent of companies in this sub-sector reported having a pilot plant or a plant at demonstration stage, with another 31% operating a full-scale plant, and 23% in research and development. This contrasts with the 2015 SOI report where 57% of companies had a full scale plant, and 29% in pilot plant or plant demonstration stage.

How would you classify your company in its current life cycle? The largest number of companies (48%) reported being in the growth phase, 35% were in the emerging phase, while 20% were in the maturity phase. This result suggests that Alberta companies across the sector are currently focused on investing in the development of products, people, and business operations to expand in the near future.

Emerging phase (radically new products with frequent changes; high technical uncertainty but broad R&D focus)

34.6%

Growth phase (gradual increase in process innovation; at least one stable, high volume product design emerges)

47.5%

Maturity phase (mostly process innovation aimed at cost reduction; incremental product innovations)

19.9%

Total 100%

What phase do you expect your company to be in by 2018? By 2018, 17% fewer respondents expect their business to remain in the emerging phase in the coming year, and 7% more expect to be in the maturity phase. This result suggests life sciences companies are planning to commercialize investments being made in emerging and novel technologies in the near future.


18.0%


54.7%


27.3%

Total 100%

23%

46%

31%


Pilot plant ordemonstration plant

Full-scale plant





For your environmental biotech, industrial biotechnology, or bioprocessing technology and/or product, in which phase of development is your lead technology or product? Forty-six percent of companies in this sub-sector reported having a pilot plant or a plant at demonstration stage, with another 31% operating a full-scale plant, and 23% in research and development. This contrasts with the 2015 SOI report where 57% of companies had a full scale plant, and 29% in pilot plant or plant demonstration stage.

How would you classify your company in its current life cycle? The largest number of companies (48%) reported being in the growth phase, 35% were in the emerging phase, while 20% were in the maturity phase. This result suggests that Alberta companies across the sector are currently focused on investing in the development of products, people, and business operations to expand in the near future.


34.6%


47.5%


19.9%

Total 100%

What phase do you expect your company to be in by 2018? By 2018, 17% fewer respondents expect their business to remain in the emerging phase in the coming year, and 7% more expect to be in the maturity phase. This result suggests life sciences companies are planning to commercialize investments being made in emerging and novel technologies in the near future.


18.0%


54.7%


27.3%

Total 100%

23%

46%

31%


Pilot plant ordemonstration plant

Full-scale plant



Life sciences in Alberta | Research and development spending


How much is your company spending on research and development? This year’s survey respondents reported a significant increase in research and development spending, both in their previous fiscal year (2016), and their expected spend for 2017. R&D spending in 2016 increased 92% from 2015, and is predicted to increase by an additional 33% in 2017. The magnitude of this trend is of central interest as it strongly suggests that the life sciences sector in Alberta is preparing for a period of sustained growth in the coming years.

How many months of cash do you have available? Thirty-six percent of companies have over 12 months of cash available on-hand to fund operations. This result is an improvement from the 2015 SOI Report where 20% of companies reported having over 12 months of cash available on hand. Consistent from the 2015 Report, 30% of the sector had four months or less of cash, signifying that access to capital and investment remains an issue for a large component of the sector.

Research and development spending

135.0 136.7 128.8 181.9

175.6

132.3

108.6

208.4

277.6

0

50

100

150

200

250

300

2006 2009 2012 2015

Tota

l R&

D s

pend

ing

($ m

illio

ns)

Year

31%

13%

20%

36%

0%

5%

10%

15%

20%

25%

30%

35%

40%

0 to 4 5 to 8 9 to 12 Over 12

Tota

l per

cent

age

of c

ompa

nies

(%

)

Months of cash available

Life sciences in Alberta | Human resources


In 2016, what was the average number of people employed at your company? Most companies (63%) employed fewer than seven people in 2016. This is reflective of the number of start-ups and small, owner-managed businesses that comprise the bulk of companies in the sector in Alberta. On the opposite end of the spectrum, only 4% of companies had over 100 employees in 2016. It is important to illustrate, however, that when looking at total employment, the largest 4% of companies were responsible for providing jobs to over half (51%) of all employees in the sector.

How many people did you employ in your company in 2016 and what are your expectations for 2017? Aggregate employment figures for the industry reported in the 2016 survey took a slight dip from 2014 levels, but are predicted to increase sizably in 2017. With over 4,000 full-time, high-paying positions expected to be held in the Alberta life sciences industry, the sector provides a substantial source of employment diversification for the province. Assuming an indirect economic multiplier of four, the life sciences industry is expected to contribute over 16,000 jobs in Alberta in 2017.

Human resources

63%

14%

8%4%

7%4%

8% 6% 7% 7%

20%

51%

1 to 7 8 to 15 16 to 30 31 to 50 51 to 100 Over 100

Tota

l per

cent

age

(%)

Average number of employees

Total companies Total employees

3,316

4,793 4,507

4,084

3,532

4,477

3,808

4,173

-

1,000

2,000

3,000

4,000

5,000

6,000

2004 2006 2008 2010 2012 2014 2016

Num

ber

of e

mpl

oyee

s

Year

Life sciences in Alberta | Research and development spending


How much is your company spending on research and development? This year’s survey respondents reported a significant increase in research and development spending, both in their previous fiscal year (2016), and their expected spend for 2017. R&D spending in 2016 increased 92% from 2015, and is predicted to increase by an additional 33% in 2017. The magnitude of this trend is of central interest as it strongly suggests that the life sciences sector in Alberta is preparing for a period of sustained growth in the coming years.

How many months of cash do you have available? Thirty-six percent of companies have over 12 months of cash available on-hand to fund operations. This result is an improvement from the 2015 SOI Report where 20% of companies reported having over 12 months of cash available on hand. Consistent from the 2015 Report, 30% of the sector had four months or less of cash, signifying that access to capital and investment remains an issue for a large component of the sector.

Research and development spending

135.0 136.7 128.8 181.9

175.6

132.3

108.6

208.4

277.6

0

50

100

150

200

250

300

2006 2009 2012 2015

Tota

l R&

D s

pend

ing

($ m

illio

ns)

Year

31%

13%

20%

36%

0%

5%

10%

15%

20%

25%

30%

35%

40%

0 to 4 5 to 8 9 to 12 Over 12

Tota

l per

cent

age

of c

ompa

nies

(%

)

Months of cash available



In 2016, what was the average number of people employed at your company? Most companies (63%) employed fewer than seven people in 2016. This is reflective of the number of start-ups and small, owner-managed businesses that comprise the bulk of companies in the sector in Alberta. On the opposite end of the spectrum, only 4% of companies had over 100 employees in 2016. It is important to illustrate, however, that when looking at total employment, the largest 4% of companies were responsible for providing jobs to over half (51%) of all employees in the sector.

How many people did you employ in your company in 2016 and what are your expectations for 2017? Aggregate employment figures for the industry reported in the 2016 survey took a slight dip from 2014 levels, but are predicted to increase sizably in 2017. With over 4,000 full-time, high-paying positions expected to be held in the Alberta life sciences industry, the sector provides a substantial source of employment diversification for the province. Assuming an indirect economic multiplier of four, the life sciences industry is expected to contribute over 16,000 jobs in Alberta in 2017.

Human resources

63%

14%

8%4%

7%4%

8% 6% 7% 7%

20%

51%

1 to 7 8 to 15 16 to 30 31 to 50 51 to 100 Over 100

Tota

l per

cent

age

(%)

Average number of employees

Total companies Total employees

3,316

4,793 4,507

4,084

3,532

4,477

3,808

4,173

-

1,000

2,000

3,000

4,000

5,000

6,000

2004 2006 2008 2010 2012 2014 2016

Num

ber

of e

mpl

oyee

s

Year



Which of the following executive positions are the most challenging for your company to fill? Business development and sales executives continue to be the most challenging positions for life sciences firms to hire, with 19% of firms reporting business development as the most difficult, and 17% for sales. Also consistent with the 2015 SOI report, regulatory affairs executives are the third most difficult, with a 12% share of respondents.

19%

17%

12%10%

9%

9%

6%

5%4%

9%

Business Development

Sales

Regulatory Affairs

Manufacturing

Clinical and MedicalDevelopmentEngineering

Chief Scientific Officer

Chief Executive Officer

Chief Financial Officer

Other

What percentage of your employees have a high school diploma, a post-secondary diploma, or some other form of post-secondary education? While providing work to individuals from a full range of educational backgrounds, the life science industry employs a large number of advanced degree holders. By attracting PhD and Masters Degrees and other highly qualified personnel to the province, the industry contributes to building Alberta’s knowledge economy and the highly skilled workforce essential for sustained economic growth.

9%

9%

19%

28%

35%

PhD Degree

Masters Degree

Bachelors Degree

Post Secondary Diploma

High School Diploma

Life sciences in Alberta | Revenue


What were your revenues for 2016 and forecast for 2017? Aggregate revenues reported by respondents in 2016 were $662 million, and expected to climb by over 10% to $733 million in 2017.

What is your reported revenue (product, sales and services) for your fiscal year ending 2016? In alignment with the employment graph on page 10, this figure shows that small businesses make up a majority (62%) of life sciences companies in Alberta. Of these, 40% report annual revenues of under $500,000. On the opposite end of the spectrum, 14% of companies report revenues above $10 million, with 4% above $50 million.

Revenue

40%

22%

15%

7% 7%

3% 4%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

0 to 0.5 0.5 to 1 1 to 5 5 to 10 10 to 20 20 to 50 > 50

Tota

l pre

cent

age

of c

ompa

nies

(%

)

Revenues ($ millions)

814.0

748.8

1,242.6

977.4

1,063.5

662.4

733.7

0

200

400

600

800

1000

1200

1400

2006 2009 2012 2015

Tota

l rev

enue

s ($

mill

ions

)

Year



Which of the following executive positions are the most challenging for your company to fill? Business development and sales executives continue to be the most challenging positions for life sciences firms to hire, with 19% of firms reporting business development as the most difficult, and 17% for sales. Also consistent with the 2015 SOI report, regulatory affairs executives are the third most difficult, with a 12% share of respondents.

19%

17%

12%10%

9%

9%

6%

5%4%

9%

Business Development

Sales

Regulatory Affairs

Manufacturing

Clinical and MedicalDevelopmentEngineering

Chief Scientific Officer

Chief Executive Officer

Chief Financial Officer

Other

What percentage of your employees have a high school diploma, a post-secondary diploma, or some other form of post-secondary education? While providing work to individuals from a full range of educational backgrounds, the life science industry employs a large number of advanced degree holders. By attracting PhD and Masters Degrees and other highly qualified personnel to the province, the industry contributes to building Alberta’s knowledge economy and the highly skilled workforce essential for sustained economic growth.

9%

9%

19%

28%

35%

PhD Degree

Masters Degree

Bachelors Degree

Post Secondary Diploma

High School Diploma



What were your revenues for 2016 and forecast for 2017? Aggregate revenues reported by respondents in 2016 were $662 million, and expected to climb by over 10% to $733 million in 2017.

What is your reported revenue (product, sales and services) for your fiscal year ending 2016? In alignment with the employment graph on page 10, this figure shows that small businesses make up a majority (62%) of life sciences companies in Alberta. Of these, 40% report annual revenues of under $500,000. On the opposite end of the spectrum, 14% of companies report revenues above $10 million, with 4% above $50 million.

Revenue

40%

22%

15%

7% 7%

3% 4%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

0 to 0.5 0.5 to 1 1 to 5 5 to 10 10 to 20 20 to 50 > 50

Tota

l pre

cent

age

of c

ompa

nies

(%

)

Revenues ($ millions)

814.0

748.8

1,242.6

977.4

1,063.5

662.4

733.7

0

200

400

600

800

1000

1200

1400

2006 2009 2012 2015

Tota

l rev

enue

s ($

mill

ions

)

Year



What percentage of your 2016 fiscal revenue was earned in each of the following regions? Alberta life science companies reported an average 42% of their revenues, the largest share, coming from within the province. This was followed by an average 26% from the USA, and 15% from the rest of Canada. This distribution suggests the industry is well diversified with respect to geographical marketplaces. It benefits from a strong position within the province and is competitive in multiple interprovincial and international export markets, with no single jurisdiction comprising an overpowering share of sector revenues.

How much capital did you raise in the fiscal year 2016 and estimate raising in 2017? Alberta life science companies raised a historic level of capital in 2016, at $304 million sector-wide, a number they expect to increase even further to $400 million in 2017. This represents a growth of nearly 300% since 2008. When viewed together with the trends reported in research and development spending, this suggests the sector is accumulating all time high levels of capital to invest heavily into growing the industry.

42%

15%

26%

7%

7%

3%

Alberta

Rest of Canada

USA

Europe

Asia

Other

112 117101

131.7 137.4 175.7

304.1

400.4

0

50

100

150

200

250

300

350

400

450

2004 2007 2010 2013 2016

Cap

ital

rai

sed

($ m

illio

ns)

Year

When viewed together with the trends reported in research and development spending, this suggests the sector is accumulating historic levels of capital to invest heavily into R&D of new products and services

Life sciences in Alberta | Financing


What sources did you use to raise capital in 2016? The largest number of respondents identified accessing capital through government facilitated programs, at 25%. Founder equity was second at 19%, followed by family and friends at 15%. This provides a picture of a financial market that is heavily weighted towards personal and government capital, over investor money. This result is partially what one would expect from a sector that is defined by a large number of start-ups and small businesses, but it could also indicate that the industry is facing barriers in accessing capital from investors. The following graphs show that this is also the case.

Which sources of capital do you intend to pursue in the future? Looking to the future, government programs are expected to continue as the primary source of capital pursued by firms in the sector, with 44% of respondents indicating the desire to do so. Notably, venture capital (29%), angel investors (25%) and corporate investors (23%) now take up the next three spots. This result suggests a strong desire by the sector to attract investments from larger investors, and may imply that it is facing barriers currently in doing so.

Financing

25%

19%

14%11%

9%5% 5% 4%

2% 1%

8%

0%

5%

10%

15%

20%

25%

30%

Gov

ernm

ent-

faci

litat

edpr

ogra

ms

Foun

der

equi

ty

Fam

ily a

nd frien

ds

Ang

el in

vest

ors

Deb

t

Cor

pora

te in

vest

ors

Publ

ic fin

anci

ng

Ven

ture

cap

italis

ts

Inst

itutio

nal

Acq

uisi

tions

& d

ives

titur

es

Oth

er

Tota

l per

cent

age

of r

espo

nden

ts (

%)

44%

29%25% 23%

17%15%

13% 12% 10%7%

0%

10%

20%

30%

40%

50%

Gov

ernm

ent

faci

litat

edpr

ogra

ms

Ven

ture

cap

italis

ts

Ang

el in

vest

ors

Cor

pora

te in

vest

ors

Foun

der

equi

ty

Deb

t

Inst

itutio

nal

Fam

ily a

nd f

rien

ds

Publ

ic fin

anci

ng

Oth

er

Tota

l per

cent

age

of r

espo

nden

ts (

%)



What percentage of your 2016 fiscal revenue was earned in each of the following regions? Alberta life science companies reported an average 42% of their revenues, the largest share, coming from within the province. This was followed by an average 26% from the USA, and 15% from the rest of Canada. This distribution suggests the industry is well diversified with respect to geographical marketplaces. It benefits from a strong position within the province and is competitive in multiple interprovincial and international export markets, with no single jurisdiction comprising an overpowering share of sector revenues.

How much capital did you raise in the fiscal year 2016 and estimate raising in 2017? Alberta life science companies raised a historic level of capital in 2016, at $304 million sector-wide, a number they expect to increase even further to $400 million in 2017. This represents a growth of nearly 300% since 2008. When viewed together with the trends reported in research and development spending, this suggests the sector is accumulating all time high levels of capital to invest heavily into growing the industry.

42%

15%

26%

7%

7%

3%

Alberta

Rest of Canada

USA

Europe

Asia

Other

112 117101

131.7 137.4 175.7

304.1

400.4

0

50

100

150

200

250

300

350

400

450

2004 2007 2010 2013 2016

Cap

ital

rai

sed

($ m

illio

ns)

Year

When viewed together with the trends reported in research and development spending, this suggests the sector is accumulating historic levels of capital to invest heavily into R&D of new products and services



What sources did you use to raise capital in 2016? The largest number of respondents identified accessing capital through government facilitated programs, at 25%. Founder equity was second at 19%, followed by family and friends at 15%. This provides a picture of a financial market that is heavily weighted towards personal and government capital, over investor money. This result is partially what one would expect from a sector that is defined by a large number of start-ups and small businesses, but it could also indicate that the industry is facing barriers in accessing capital from investors. The following graphs show that this is also the case.

Which sources of capital do you intend to pursue in the future? Looking to the future, government programs are expected to continue as the primary source of capital pursued by firms in the sector, with 44% of respondents indicating the desire to do so. Notably, venture capital (29%), angel investors (25%) and corporate investors (23%) now take up the next three spots. This result suggests a strong desire by the sector to attract investments from larger investors, and may imply that it is facing barriers currently in doing so.

Financing

25%

19%

14%11%

9%5% 5% 4%

2% 1%

8%

0%

5%

10%

15%

20%

25%

30%

Gov

ernm

ent-

faci

litat

edpr

ogra

ms

Foun

der

equi

ty

Fam

ily a

nd frien

ds

Ang

el in

vest

ors

Deb

t

Cor

pora

te in

vest

ors

Publ

ic fin

anci

ng

Ven

ture

cap

italis

ts

Inst

itutio

nal

Acq

uisi

tions

& d

ives

titur

es

Oth

er

Tota

l per

cent

age

of r

espo

nden

ts (

%)

44%

29%25% 23%

17%15%

13% 12% 10%7%

0%

10%

20%

30%

40%

50%

Gov

ernm

ent

faci

litat

edpr

ogra

ms

Ven

ture

cap

italis

ts

Ang

el in

vest

ors

Cor

pora

te in

vest

ors

Foun

der

equi

ty

Deb

t

Inst

itutio

nal

Fam

ily a

nd f

rien

ds

Publ

ic fin

anci

ng

Oth

er

Tota

l per

cent

age

of r

espo

nden

ts (

%)



Note: the percentages of companies accessing funding from all sources adds to greater than 100% as many companies have accessed more than one source of funding.

Which governmental support initiatives have you used? A significant proportion of respondents identified accessing funding from the Scientific Research & Experimental Development (SR&ED) Program, and the Industrial Research Assistance Program (IRAP). Eighty-four percent of respondents leveraged SR&ED, and 82% accessed IRAP. The other significant sources of government funding included Alberta Innovates Voucher Program (45%), Alberta Innovates Associates Program (29%), and NSERC funding (28%).

82%84%

7%

45%

11%7%

2%4%

2%

16%

5% 7%

22%

5% 4% 5%

29%

4%0%

15%

28%

18%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Indu

strial

Res

earc

h Ass

ista

nce

Prog

ram

(IR

AP)

Sci

entif

ic R

esea

rch

and

Expe

rim

enta

l Dev

elop

men

t Pr

ogra

m(S

R&

ED)

Bui

ld in

Can

ada

Inno

vatio

n Pr

ogra

m (

BCIP

)

Vou

cher

Pro

gram

(in

clud

ing

mic

ro)

Prod

uct

Dem

onst

ratio

n Pr

ogra

m

Alb

erta

Sm

all B

usin

ess

Inno

vatio

n an

d Res

earc

h In

itiat

ive

(ASB

IR)

Acc

eler

atin

g In

nova

tion

into

Car

E Pr

ogra

m (

AIC

E)

Alb

erta

Bio

Fut

ure

Prog

ram

Food

Inn

ovat

ion

Prog

ram

(20

15-1

6)

Part

ners

hip

Prog

ram

s- G

erm

any,

Mex

ico

(Jal

isco

), a

nd C

hina

(Zhe

jiang

),Can

adia

n In

stitu

tes

of H

ealth

Res

earc

h (C

IHR)

Proo

f of

Prin

cipa

l Pro

gram

,

AVA

C-

Acc

eler

ate

Fund

(co

mpl

eted

)

Gro

win

g Fo

rwar

d 2

Prog

ram

s

Emis

sion

s Red

uctio

n Alb

erta

(fo

rmer

ly C

limat

e Cha

nge

Emis

sion

Man

agem

ent

Cor

pora

tion

(CCEM

C))

Bio

ener

gy P

rodu

cer

Cre

dit

Prog

ram

Sus

tain

able

Dev

elop

men

t Te

chno

logy

Can

ada

(SD

TC)

Alb

erta

Inn

ovat

es A

ssoc

iate

s an

d In

tern

ship

pro

gram

s

Bio

Tale

nt C

aree

r Fo

cus

Prog

ram

AAF

C C

aree

r Fo

cus

Prog

ram

Mita

cs

NSE

RC (

Enga

ge, CRD

, ARD

, an

d Ex

perien

ce P

rogr

ams)

Oth

er

Perc

enta

ge o

f re

spon

dent

s (%

)

Alberta Innovates Human Resource Funding

Life sciences in Alberta | Issues facing the industry


The top three most important issues identified by this year’s respondents are:

1. Improving the investment climate through globally competitive mechanisms such as matching funding models and enhanced venture capital environment;

2. Continuing to add to experienced talent in the sector, particularly in the areas of business development, sales and regulatory affairs; and,

3. Developing Alberta’s brand as a strong life sciences sector, both internally in the province by continuing to align stakeholder, customer and support organizations, as well as externally to multinational corporations, investors and entrepreneurs.

Similar to the 2015 SOI Report, the major theme from this year’s survey is that life sciences companies are in need of improvements in access to financing and funding. These issues are amplified in importance when taken in the context of the industry’s recent surge in R&D spending and the challenges identified in attracting business development and sales executives.

In order to sustain growth across this high-value industry, improving access to venture, angel, institutional, and corporate capital should be the highest priority of government policies looking to support the industry. In addition, easing the application process for Alberta Innovates and other provincial programs that support the sector will improve the ability of the industry to access the funding it needs to invest in future growth. With these priority improvements in place, the industry will be well positioned to compete in the international marketplace and expand on its position as a significant contributor to Alberta’s economy.

In order to sustain growth across the life sciences sector, improving access to venture, angel, institutional, and corporate capital should be the highest priority of government policies.

Issues facing the industry Alberta’s life sciences sector is an important source of employment, innovation, and diversified economic growth for the province. Despite its notable successes, the industry still faces a number of challenges that are limiting it from reaching its full potential.



Note: the percentages of companies accessing funding from all sources adds to greater than 100% as many companies have accessed more than one source of funding.

Which governmental support initiatives have you used? A significant proportion of respondents identified accessing funding from the Scientific Research & Experimental Development (SR&ED) Program, and the Industrial Research Assistance Program (IRAP). Eighty-four percent of respondents leveraged SR&ED, and 82% accessed IRAP. The other significant sources of government funding included Alberta Innovates Voucher Program (45%), Alberta Innovates Associates Program (29%), and NSERC funding (28%).

82%84%

7%

45%

11%7%

2%4%

2%

16%

5% 7%

22%

5% 4% 5%

29%

4%0%

15%

28%

18%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Indu

strial

Res

earc

h Ass

ista

nce

Prog

ram

(IR

AP)

Sci

entif

ic R

esea

rch

and

Expe

rim

enta

l Dev

elop

men

t Pr

ogra

m(S

R&

ED)

Bui

ld in

Can

ada

Inno

vatio

n Pr

ogra

m (

BCIP

)

Vou

cher

Pro

gram

(in

clud

ing

mic

ro)

Prod

uct

Dem

onst

ratio

n Pr

ogra

m

Alb

erta

Sm

all B

usin

ess

Inno

vatio

n an

d Res

earc

h In

itiat

ive

(ASB

IR)

Acc

eler

atin

g In

nova

tion

into

Car

E Pr

ogra

m (

AIC

E)

Alb

erta

Bio

Fut

ure

Prog

ram

Food

Inn

ovat

ion

Prog

ram

(20

15-1

6)

Part

ners

hip

Prog

ram

s- G

erm

any,

Mex

ico

(Jal

isco

), a

nd C

hina

(Zhe

jiang

),Can

adia

n In

stitu

tes

of H

ealth

Res

earc

h (C

IHR)

Proo

f of

Prin

cipa

l Pro

gram

,

AVA

C-

Acc

eler

ate

Fund

(co

mpl

eted

)

Gro

win

g Fo

rwar

d 2

Prog

ram

s

Emis

sion

s Red

uctio

n Alb

erta

(fo

rmer

ly C

limat

e Cha

nge

Emis

sion

Man

agem

ent

Cor

pora

tion

(CCEM

C))

Bio

ener

gy P

rodu

cer

Cre

dit

Prog

ram

Sus

tain

able

Dev

elop

men

t Te

chno

logy

Can

ada

(SD

TC)

Alb

erta

Inn

ovat

es A

ssoc

iate

s an

d In

tern

ship

pro

gram

s

Bio

Tale

nt C

aree

r Fo

cus

Prog

ram

AAF

C C

aree

r Fo

cus

Prog

ram

Mita

cs

NSE

RC (

Enga

ge, CRD

, ARD

, an

d Ex

perien

ce P

rogr

ams)

Oth

er

Perc

enta

ge o

f re

spon

dent

s (%

)

Alberta Innovates Human Resource Funding



The top three most important issues identified by this year’s respondents are:

1. Improving the investment climate through globally competitive mechanisms such as matching funding models and enhanced venture capital environment;

2. Continuing to add to experienced talent in the sector, particularly in the areas of business development, sales and regulatory affairs; and,

3. Developing Alberta’s brand as a strong life sciences sector, both internally in the province by continuing to align stakeholder, customer and support organizations, as well as externally to multinational corporations, investors and entrepreneurs.

Similar to the 2015 SOI Report, the major theme from this year’s survey is that life sciences companies are in need of improvements in access to financing and funding. These issues are amplified in importance when taken in the context of the industry’s recent surge in R&D spending and the challenges identified in attracting business development and sales executives.

In order to sustain growth across this high-value industry, improving access to venture, angel, institutional, and corporate capital should be the highest priority of government policies looking to support the industry. In addition, easing the application process for Alberta Innovates and other provincial programs that support the sector will improve the ability of the industry to access the funding it needs to invest in future growth. With these priority improvements in place, the industry will be well positioned to compete in the international marketplace and expand on its position as a significant contributor to Alberta’s economy.

In order to sustain growth across the life sciences sector, improving access to venture, angel, institutional, and corporate capital should be the highest priority of government policies.

Issues facing the industry Alberta’s life sciences sector is an important source of employment, innovation, and diversified economic growth for the province. Despite its notable successes, the industry still faces a number of challenges that are limiting it from reaching its full potential.



Importance placed on the following issues:

51%

41%

25%

0%

58%

49%

52%

48%

0%

43%

35%

37%

0%

41%

36%

13%

12%

26%

27%

30%

0%

21%

30%

26%

30%

0%

31%

40%

28%

0%

31%

42%

47%

33%

10%

9%

17%

0%

8%

8%

8%

10%

0%

15%

14%

10%

0%

16%

14%

23%

36%

14%

23%

28%

0%

13%

13%

14%

12%

0%

11%

10%

25%

0%

11%

8%

17%

19%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Continue an Investor Tax Credit Program

Continue Capital Investment (Manufacturing) Tax CreditProgram

Introduce flow-through shares

Improve investment climate through globallycompetitive mechanisms such as matching fundingmodels and enhanced venture capital environment

Extend and enhance the Alberta Small BusinessInnovation and Research Initiative (ASBIR)

Streamlined application processd for all provincial lifescience funding programs

Enhance established funding programs (i.e. vouchers,AVAC)

Better access to the local market for our companies

Enhance technology transfer from universities, collegesand institutions

Better environment for conducting clinical trials inAlberta

Funding programs for labour training to attract andretain highly skilled workforce for life science SMEs

Government and industry partnerships to increaseavailability of highly qualified personnel (eg.

internships)

Introduce life science in cross-curricular learning fromGrades 7 to 12

Streamline immigration efforts and programs to makeattraction of qualified personnel easier

Very Important Important Not Important Not Applicable

Support life science through tax-based instruments

Sustainable funding for research and commercialization

Build a supportive environment for innovation and commercialization

Access to highly qualified personnel

Life sciences in Alberta | Industry participation


4th Quadrant Solutions Inc. Accumol Inc. Achlys Inc. Adaptive Engineering Inc. Alberta Research Chemicals Inc. Alternative Plastic Products Inc Alzheimer's Innovation Institute AnimationLeader Technology Inc. Aquila Diagnostic Systems Inc. ATI Composites Inc. Aurinia Pharmaceuticals Inc. Bertech Pharma Ltd. BioNeutra Inc. BioRefinex Canada Inc. Brightsquid Secure Communications Corp. CadCan Marketing & Sales Inc. Calgary Scientific Inc. Canadian Greenfield Technologies Corp. Canadian Wood Waste Recycling CanBiocin Inc. CBF Systems Inc. Ceapro Inc. Cielo Waste Solutions Corp. Circle Cardiovascular Imaging Inc. CQI Consulting Ltd. Cybernius Medical Ltd. Dapp Power LP Delta Genomics Centre Deltabalance Inc. DriveABLE Assessment Centre's Inc. DueNorth BioDev Corp. Dycor Technologies Ltd. DynaLIFE Dx Eau Naturale Fragrances EC Labs Elsius Biomedical Inc. Emergent Waste Solutions Inc.

Entos Pharmaceuticals Inc. Epimeron Inc. Evolve Business Development Inc. Exciton Technologies Inc. FORTISTAR LLC FREDsense Technologies Corp. General Intermediates of Canada, Inc. Gilead Alberta ULC Grow the Energy Circle Ltd. H3ALTH TECHNOLOGIES INC. Heka Therapeutics Ltd. Hempco Food and Fiber Inc. Herbal Healing Inc. IGY Immune Technologies & Life Sciences Inc. IGY Inc. IMBiotechnologies Ltd. Innovative Reduction Strategies Inc. (IRSI) Innovative Trauma Care Inc. Innovotech Inc. INO IntelligentNano Inc. Ivy Devices Inc. Just BioFiber Strcutural Solutions Corp. Kinetisense Inc. KMT Hepatech Inc. Labs-Mart Inc. Life Choice Ltd. MagnetTx Oncology Solutions Inc. Metabolic Modulators Research Ltd. Metabolomic Technologies Inc. MindLab Interactive AI Inc. Myco Innovations Inc. Nanalysis Corp. NanoGreen Biorefineries Inc. Nanostics Inc.. Natural Pain Products Inc. Nova Green Inc.

OR Science Orpyx Medical Technologies Inc. OSG4Life Softgels Ltd. OsteoMetabolix Pharmaceuticals Inc. Pacylex Pharmaceuticals Inc. Parvus Therapeutics Inc. Pixineers Inc. priMED Medical Products Inc. Progressive Foods Inc. Radient Technologies Inc. RadTag Technologies Inc. Rehabtronics Inc. Remedy Animal Health Ltd. Resource Industry Suppliers Association Rock and Root Eco Ltd. Royal Elk Products Ltd. Running Injury Clinic Inc. SafetyScan Technologies, A Division of 1695482 Alberta Ltd. Sage Valley Marketing ltd. Salu Design Group Inc. SBI BioEnergy Inc. SinoVeda Canada Inc. SmileSonica Inc. SolAeroMed Inc. Strata Health Solutions Inc. Susteen Technologies Canada Ltd. SVChemBioTech Inc. Symbiotic EnviroTek Inc. TC Scientific Inc. Tevosol Inc. Threefeather Naturals Ltd. Town of Drayton Valley Transcriptome Sciences Inc. Tyler Research Corp. VaxAlta Inc. Viresco Solutions Inc. Vivamerica Ltd.

Industry participation



Importance placed on the following issues:

51%

41%

25%

0%

58%

49%

52%

48%

0%

43%

35%

37%

0%

41%

36%

13%

12%

26%

27%

30%

0%

21%

30%

26%

30%

0%

31%

40%

28%

0%

31%

42%

47%

33%

10%

9%

17%

0%

8%

8%

8%

10%

0%

15%

14%

10%

0%

16%

14%

23%

36%

14%

23%

28%

0%

13%

13%

14%

12%

0%

11%

10%

25%

0%

11%

8%

17%

19%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Continue an Investor Tax Credit Program

Continue Capital Investment (Manufacturing) Tax CreditProgram

Introduce flow-through shares

Improve investment climate through globallycompetitive mechanisms such as matching fundingmodels and enhanced venture capital environment

Extend and enhance the Alberta Small BusinessInnovation and Research Initiative (ASBIR)

Streamlined application processd for all provincial lifescience funding programs

Enhance established funding programs (i.e. vouchers,AVAC)

Better access to the local market for our companies

Enhance technology transfer from universities, collegesand institutions

Better environment for conducting clinical trials inAlberta

Funding programs for labour training to attract andretain highly skilled workforce for life science SMEs

Government and industry partnerships to increaseavailability of highly qualified personnel (eg.

internships)

Introduce life science in cross-curricular learning fromGrades 7 to 12

Streamline immigration efforts and programs to makeattraction of qualified personnel easier

Very Important Important Not Important Not Applicable

Support life science through tax-based instruments

Sustainable funding for research and commercialization

Build a supportive environment for innovation and commercialization

Access to highly qualified personnel



4th Quadrant Solutions Inc. Accumol Inc. Achlys Inc. Adaptive Engineering Inc. Alberta Research Chemicals Inc. Alternative Plastic Products Inc Alzheimer's Innovation Institute AnimationLeader Technology Inc. Aquila Diagnostic Systems Inc. ATI Composites Inc. Aurinia Pharmaceuticals Inc. Bertech Pharma Ltd. BioNeutra Inc. BioRefinex Canada Inc. Brightsquid Secure Communications Corp. CadCan Marketing & Sales Inc. Calgary Scientific Inc. Canadian Greenfield Technologies Corp. Canadian Wood Waste Recycling CanBiocin Inc. CBF Systems Inc. Ceapro Inc. Cielo Waste Solutions Corp. Circle Cardiovascular Imaging Inc. CQI Consulting Ltd. Cybernius Medical Ltd. Dapp Power LP Delta Genomics Centre Deltabalance Inc. DriveABLE Assessment Centre's Inc. DueNorth BioDev Corp. Dycor Technologies Ltd. DynaLIFE Dx Eau Naturale Fragrances EC Labs Elsius Biomedical Inc. Emergent Waste Solutions Inc.

Entos Pharmaceuticals Inc. Epimeron Inc. Evolve Business Development Inc. Exciton Technologies Inc. FORTISTAR LLC FREDsense Technologies Corp. General Intermediates of Canada, Inc. Gilead Alberta ULC Grow the Energy Circle Ltd. H3ALTH TECHNOLOGIES INC. Heka Therapeutics Ltd. Hempco Food and Fiber Inc. Herbal Healing Inc. IGY Immune Technologies & Life Sciences Inc. IGY Inc. IMBiotechnologies Ltd. Innovative Reduction Strategies Inc. (IRSI) Innovative Trauma Care Inc. Innovotech Inc. INO IntelligentNano Inc. Ivy Devices Inc. Just BioFiber Strcutural Solutions Corp. Kinetisense Inc. KMT Hepatech Inc. Labs-Mart Inc. Life Choice Ltd. MagnetTx Oncology Solutions Inc. Metabolic Modulators Research Ltd. Metabolomic Technologies Inc. MindLab Interactive AI Inc. Myco Innovations Inc. Nanalysis Corp. NanoGreen Biorefineries Inc. Nanostics Inc.. Natural Pain Products Inc. Nova Green Inc.

OR Science Orpyx Medical Technologies Inc. OSG4Life Softgels Ltd. OsteoMetabolix Pharmaceuticals Inc. Pacylex Pharmaceuticals Inc. Parvus Therapeutics Inc. Pixineers Inc. priMED Medical Products Inc. Progressive Foods Inc. Radient Technologies Inc. RadTag Technologies Inc. Rehabtronics Inc. Remedy Animal Health Ltd. Resource Industry Suppliers Association Rock and Root Eco Ltd. Royal Elk Products Ltd. Running Injury Clinic Inc. SafetyScan Technologies, A Division of 1695482 Alberta Ltd. Sage Valley Marketing ltd. Salu Design Group Inc. SBI BioEnergy Inc. SinoVeda Canada Inc. SmileSonica Inc. SolAeroMed Inc. Strata Health Solutions Inc. Susteen Technologies Canada Ltd. SVChemBioTech Inc. Symbiotic EnviroTek Inc. TC Scientific Inc. Tevosol Inc. Threefeather Naturals Ltd. Town of Drayton Valley Transcriptome Sciences Inc. Tyler Research Corp. VaxAlta Inc. Viresco Solutions Inc. Vivamerica Ltd.

Industry participation



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Life sciences in Alberta | Need more information?


BioAlberta BioAlberta is a member-driven association that represents and promotes the province's vibrant and diverse life sciences industry. Through our many partnerships and collaborations, we are dedicated to promoting Alberta's life science sectors, locally, nationally and internationally. BioAlberta enables success for its members by providing a wide range of networking and educational events, and by effectively delivering policy options to governments. BioAlberta activities are focused in key strategic areas: advocacy; promotion, marketing and networking; industry development.

Contact BioAlberta:

Mel Wong President, BioAlberta 780 425 3804 [email protected]

Need more information? Deloitte’s Life Science practice Deloitte professionals have experience working with life sciences companies across the country and globally. Deloitte helps these companies to assess their strategic options; form, establish and maintain partnerships and alliances; develop commercialization strategies; enhance revenues; improve operating efficiencies; optimize asset utilization; strengthen management teams; provide due diligence and valuation support as part of a transaction; implement tax efficient structures; streamline the complexities related to industry auditing and accounting; mitigate enterprise risk; and provide negotiation and advisory assistance.

For more information about how Deloitte can help your organization, contact the Life Sciences leadership team:

Jason Ding National biotechnology leader 780 803 8677 [email protected] Jeremy Webster Partner 780 915 0183 [email protected]

Life sciences in Alberta | Need more information?


www.deloitte.ca Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. © Deloitte LLP and affiliated entities.


Life sciences in Alberta State of the industry 2017

www.bioalberta.comConnecting, championing & advancing life sciences in Alberta.

BioAlberta is a private, not-for-profit industry association

representing the growing life sciences sector in the province. Our vision is to build a thriving and competitive life sciences

industry that fuels key sectors of Alberta’s economy. The organization serves as a central voice and organizing hub for the industry, providing leadership through focused activities

that promote and enable sector development in Alberta.

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