API Stories
A successful year for life sciences
It has been a phenomenal year for Life Sciences in Alberta! From accelerating the growth of startups and scale-ups, to delivering programs for innovators and trainees, to engaging the community, our ecosystem was able to build momentum and amplify the potential of the sector in 2023.
In our recent year-in-review, we share some of our own milestones and celebrate the collective work the life sciences ecosystem has done to put Alberta at the cusp of becoming a leader in the sector.
To start off, BioAlberta’s 2023 State of the Industry report revealed that Alberta’s life sciences industry generated $2 billion in revenue in 2022, and is forecasting 55.5% revenue growth in 2023. Venture capital investments in the life sciences sector have also exceeded $2.6 billion in 10 years
In 2023, API received incremental funding and land lease approval for the Canadian Critical Drug Initiative manufacturing facility in the Edmonton Research Park, which brought us several steps closer to realizing its vision.
In September, we celebrated the launch of Alberta’s first Life Sciences Week and received overwhelming support from our ecosystem.
API also launched new programs in 2023, including Life Sciences Venture Coaching and Research to Revenue, and we began providing complimentary access to training courses from BioTalent Canada and CASTL that empower professional development in the life sciences.
We are excited to both reflect on how far we’ve come and take steps forward to unlock the full potential of life sciences in Alberta! Thank you for your support this year and for your continued collaboration in the success of this sector.
Strengthening Canada-Switzerland
affairs in life sciences
Earlier in December, Andrew MacIsaac, CEO; Julianna Weber, Director of Clinical Affairs; and Dr. Truong Ta, VP of Commercialization & Growth, had the pleasure of hosting a special guest from Switzerland at our API headquarters!
Michael Schindele, Trade Commissioner for the Government of Canada in Switzerland, joined by Evan Buie, Trade Commissioner for Global Affairs Canada, recently visited us to explore Alberta’s vibrant life sciences ecosystem and learn about API’s contribution to its growth.
We are thrilled to work with Schindele to strengthen our Canada-Switzerland relationships and look forward to potentially joining the upcoming Swiss Biotech Day in April 2024!
(From left) Michael Schindele, Trade Commissioner for the Government of Canada in Switzerland, Andrew MacIsaac, CEO at API, Evan Buie, Trade Commissioner for Global Affairs Canada, and Julianna Weber, Director of Clinical Affairs at API.
New career opportunities!
Are you looking for an exciting career in the life sciences?
We are seeking a few new dedicated and dynamic individuals to join our team!
Ten life sciences venture companies on the road to commercialization
This month, our first cohort of the Life Sciences Venture Coaching program completed this unique 6-month series. The program provided support and mentorship tailored for early-stage entrepreneurs in the life sciences, to guide them towards successful product development and market launch.
Throughout the program, the 10 selected companies received individualized support from life sciences coaching experts, gained insights on the regulatory path for life sciences companies, and learned about exciting opportunities to grow their businesses.
The LSVC cohort during Peer Pitch Practice, led by our Programs Manager, Marina Barbu, and Programs Coordinator, Mohammed Ali.
The Life Sciences Venture Coaching Program is one of API’s programs that support startups, entrepreneurs, and trainees in the life sciences. Congratulations to our first cohort of ventures and thank you to the coaches who supported these entrepreneurs!
Events
Startup TNT Life Sciences Investment Summit
The Life Sciences Investment Summit powered by API is back in 2024!
In partnership with Startup TNT, we will be raising over $400k for life sciences startups across Alberta, Saskatchewan, & Manitoba! If you’re a life sciences startup, this summit is the perfect opportunity to raise capital for your business.
Apply by January 15 to secure your entry! Get ready to raise capital, make invaluable connections, and be part of an engaged ecosystem of founders, investors, and community supporters!
Life Sciences and Innovation News
Minister Glubish states Alberta’s venture capital investment growth
In response to the Canadian Venture Capital and Private Equity Association’s Q3 report, the Honourable Nate Glubish, Minister of Technology and Innovation, reflected on Alberta’s consistent growth in venture capital investments.
From Glubish’s statement: Alberta secured 21 deals worth $128 million in Q3 2023, which is approximately a 357 percent increase compared with the $28M in deals for Q3 last year. Alberta’s total venture capital investment year to date is $534 million.
“Alberta’s tech sector is on a tear, showing that the province is on track for another record year despite the rest of Canada seeing less investment,” Glubish said.
Alberta institutions rank among global Top 100 in Life Sciences subjects
ShanghaiRanking Consultancy recently announced the 2023 Global Ranking of Academic Subjects, which revealed the University of Alberta ranked 29th in Biological Sciences, showcasing the province’s academic leadership in the life sciences.
The University of Calgary ranked among the world’s Top 75 in Veterinary Sciences, Top 100 in Medical Technology, and both institutions are in the Top 100 in Clinical Medicine. The UofA is also among the world’s Top 75 in Agricultural Sciences and ranked 91st overall in the Academic Ranking of World Universities.
Dow invests nearly $9B in petrochemical facility in Alberta
On November 29, the Government of Alberta announced that Dow will be investing $8.9B in a net-zero petrochemical facility located in Alberta’s Industrial Heartland. This project resonates in the life sciences sector, as petrochemicals are essential to the production of pharmaceuticals and other life sciences products. For example, nearly 99% of pharmaceutical feedstocks and reagents are sourced from petrochemicals.
Dow’s significant investment not only strengthens the petrochemical industry but also holds powerful implications for Alberta’s economy, emphasizing the power of collaborative cross-government and private sector efforts.