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Biotech fund established.


Call it a reflection of the Thunder Bay Thunder Bay, city (1991 pop. 113,946), SW Ont., Canada, on Thunder Bay inlet of Lake Superior. The city was created in 1970 by the amalgamation of the twin cities of Fort William and Port Arthur and two adjoining townships.  entrepreneurial spirit or willingness from council to increase economic growth, either way the public and private sectors are moving aggressively to create a fund aimed at marketing and enhancing the biotechnology-health sector.

Approximately six private organizations are sitting down to establish the Biotechnology Marketing, Innovation and Development Fund worth up to $700,000, Derik Brandt, manager of the tourism and economic division for Thunder Bay says. City council has agreed to set aside $150,000 for the fund, while $75,000 is expected to be raised from the private sector. Members are also hoping for $225,000 from provincial and federal governments.

"The fund will be used to promote the City of Thunder Bay and our assets in biotechnology," Brandt adds.

The assets Brandt is referring to are the existing local organizations and new firms connected to the biotechnology field in the northwest.

Private sector momentum is what is driving the fund.

"(Private sector organizations) are telling us what they want to see us do, what conferences they want us to attend and what promotional literature we should be creating," Brandt explains, adding that speakers will also be brought in to encourage innovation within the sector.

The private agencies, which have not been disclosed, have committed to financial funding. One representative from each organization will be designing the plan, then bringing it to council for approval once complete.

"We have made a requirement; you can't be at the table unless your prepared to make a financial commitment," he says.

The whole area relating to relating to relate prepconcernant

relating to relate prepbezüglich +gen, mit Bezug auf +acc 
 health and biotechnology has been a hot bed of activity for the city.

Siemens is negotiating with the city on a potential partnership, and two biotechnology firms in southern Ontario are considering relocating to Thunder Bay.

John Douglas John Douglas is a name shared by a number of notable individuals:
  • John Douglas, Lord of Balvenie (d. 1463), Scottish soldier
  • John Douglas, 2nd Earl of Morton (d.
, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Ventus Energy Inc. and managing director of Douglas Capital Inc., says they are searching for temporary lab space and qualified people to begin the first steps of relocating the biotechnology companies Top 100 Biotechnology Companies
The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies.
.

"We are looking for Looking for

In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with.
 an existing facility to work in or someone who could do contract work for us right now," Douglas says.

He will be meeting with another organization from Toronto to determine the optimum benefits of either keeping the firms in the city or moving them to Thunder Bay.

An Ottawa developer is also interested in building a biocentre, while a news release from the federal government indicates Thunder Bay may have been chosen as a sub office for public health on Aboriginal issues. Minister of State for Public Health Dr. Carolyn Bennett Carolyn A. Bennett, PC, MP, MD (born December 20, 1950 in Toronto, Ontario) is the Member of Parliament for the riding of St. Paul's, a constituency located in Toronto, Canada. She is a member of the Liberal Party of Canada, and was formerly a candidate for its leadership.  announced the creation of six national collaborating centres for public health as an extension of new Public Health Agency of Canada The Public Health Agency of Canada (French: Agence de la santé publique du Canada) is an agency of Health Canada a department of the Government of Canada that is responsible for public health, emergency preparedness, and response and infectious and chronic disease control .

"Northern Ontario Northern Ontario is the part of the province of Ontario which lies north of Lake Huron (including Georgian Bay), the French River and Lake Nipissing.

Northern Ontario has a land area of 802,000 km² (310,000 mi²) and constitutes 87% of the land area of Ontario, although it
 Medical School will be one of the centres of collaboration, and I believe Thunder Bay campus is taking the lead on Aboriginal issues, while Sudbury will be taking the lead on Francophone issues," Brandt explains.

Lakehead University plays an integral role in the development of the biotechnology cluster.

"We would not be where we are today without Lakehead University and would not be able to advance the biotechnology sector without them."

Plans are still in the design stage and a complete report will be presented to council in September.

By KELLY LOUISEIZE

Northern Ontario Business Northern Ontario Business is a Canadian magazine, which publishes monthly in Greater Sudbury, Ontario. The magazine covers business news and issues in Northern Ontario.  
COPYRIGHT 2004 Laurentian Business Publishing, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Biotechnology & Health
Author:Louiseize, Kelly
Publication:Northern Ontario Business
Geographic Code:1CONT
Date:Jun 1, 2004
Words:548
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