August 23, 2023 (Edmonton, Alberta) – On June 22nd, Edmonton Global announced that they have established a Memorandum of Understanding (MOU) with the not-for-profit organization Applied Pharmaceutical Innovation (API). The goal behind this agreement is to promote the economic growth of the life sciences industry in the Edmonton Metropolitan Region and further establish the region as a leader in the industry.
In joining forces, Edmonton Global and API are working towards their shared objectives of attracting investments, supporting existing businesses, and drawing skilled individuals to the life science industry. By working together, they are targeting opening new avenues of growth and development in this sector. This partnership will also be building upon the existing history of collaboration between Edmonton Global and API. A good example of this happened in 2019 when Edmonton Global was determining priorities for Covid-19 stimulus funding. Through this process, Edmonton Global consulted with API on what items to include which ultimately led to a combined advocacy effort for government support to establish a small molecule manufacturing facility in the Edmonton Metropolitan Region. This combined effort culminated in the establishment of the Canadian Centre for Drug Development and Innovation (CCDI), which recently secured federal government funding of $80.5 million.
Looking ahead, as API expands its capacity to support commercialization, it will offer a wider array of services and programs designed to empower innovators in bringing their life sciences products to market.
Together, Edmonton Global and API are poised to unlock new opportunities and showcase the region’s full potential, attracting new investments and positioning the Edmonton Metropolitan Region as a leader in the life sciences sector.
“This region is on the cusp of becoming a leader in the life science sector and is well-positioned to capitalize on our assets. With that future in mind, this partnership is now focused on creating business opportunities, attracting investment and ensuring everyone knows the incredible work happening here.”
Andrew MacIsaac, CEO of Applied Pharmaceutical Innovation
“This collaboration marks a significant milestone for the Edmonton Metropolitan Region as we continue to assert ourselves as a leader in the life science industry. With the Canadian Critical Drug Initiative recently receiving $80.5 million in funding, we have the opportunity to position ourselves as a hub for pharmaceutical manufacturing. We thank API for their leadership and look forward to collaborating with them to promote growth and drive innovation in our region’s thriving life science industry.”
Malcolm Bruce, CEO of Edmonton Global
About Edmonton Global
The purpose of Edmonton Global is to radically transform and grow the economy of the Edmonton Metropolitan Region. We are a not-for-profit corporation founded by 14 municipalities that make up the Edmonton Metropolitan Region. Our focus is attracting foreign investment, helping regional businesses export with the world, enhancing our region’s global competitiveness, and bringing our region together with a unified voice to attract the attention and interest of investors the world over.
About Applied Pharmaceutical Innovation
API is an industry-led not-for-profit organization that provides life sciences and health technology development capacity for innovative companies to commercially produce their intellectual property within Canada. Since its inception 6 years ago, it has grown to over 65 staff and a network of post-secondary research labs working with many small and multinational clients and has supported 43 spin-off companies. API also operates a growing network of over 100,000 square feet of lab and company incubation space.