Life Sciences Industry Partnership

A three-year development initiative aims to make Nova Scotia a leading centre for the biotechnology, medical devices and information technology sectors.

The Life Sciences Industry Partnership was announced today at InNOVAcorp by Premier Russell MacLellan. He was joined by Ross McCurdy, CEO of InNOVAcorp, the corporation managing the initiative.

The partnership will transform the life sciences sector into an engine of economic growth for Nova Scotia. It will help Nova Scotia companies move from research through technological product development and bring products to market. The partnership will focus on four areas: biotechnology, medical devices and products, information technology and management systems, and research and services.

Total project costs of $1.611 million will be allocated by the provincial and federal governments under the Canada/Nova Scotia COOPERATION Agreement on Economic Diversification. The partnership aims to create 540 high-value jobs over the three-year development period, with increased annual exports of $100 million and a new capital investment of $97 million.

"The emergence of global markets is one of the driving factors for change in the life sciences sector," said Premier MacLellan. "Projects such as the Life Sciences Industry Partnership reinforce the commitment of Nova Scotia to become a world leader in the life sciences sector and encourage economic prosperity in the 21st century."

Although unable to attend the event, Senator Al Graham, Leader of the Government in the Senate and Minister responsible for Nova Scotia, on behalf of Fred Mifflin, Secretary of State for Atlantic Canada Opportunities Agency, said: "Today's initiative will create a more positive environment in Nova Scotia for the development of life sciences industries. Support for this growing sector of the Nova Scotia economy is proof the federal government is committed to promoting sustainable economic growth in this province."

"The Life Sciences Industry Partnership has created an ambitious long-term plan that, among other things, plans to double the size of the life sciences industry in Nova Scotia over the next three years," said Dr. McCurdy. "The potential benefits for Nova Scotia companies will be increased opportunities and expansion of the industry."

The Life Sciences Industry Partnership will be managed by InNOVAcorp and is an integral part of its commercialization services. The partnership team, led by director Steven Armstrong, has been working closely with key partners and numerous industry and government leaders.

The Canada/Nova Scotia COOPERATION Agreement on Economic Diversification is managed by the Atlantic Canada Opportunities Agency and the Nova Scotia Department of Economic Development and Tourism.

NOTE TO EDITORS: A fact sheet on the Life Sciences Industry Partnership is available by e-mailing <[email protected].>