Life sciences in Alberta State of the industry 2015

Life sciences in Alberta State of the industry 2015 1

Life sciences in AlbertaState of the industry 2015

2

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 Need more information? ...........................................21


Executive summary

The BioAlberta State of the industry report is a biennial survey of life sciences companies and executives in Alberta. It was developed to review the outlook for the province’s life sciences industry based on the current status of trends related to the industry’s nature, health, productivity and economic contribution, in addition to its capacity and track record for innovation.

Alberta’s life sciences industry continues to be a major growth, diversification, employment and innovation engine for the province of Alberta. With more than $1 billion in revenues generated by Alberta companies and 4,600 employees, the industry has demonstrated strong performance and continued positive momentum. The industry is comprised of a significant group of mature companies that have generated global revenues from their products and services, combined with a large number of emerging and smaller high-growth companies that expect to be major contributors of innovation, jobs and economic activity.

The industry invests a significant amount in research and development and the commercialization of new technologies is a goal almost all companies in the industry share.

The industry in Alberta continues to suffer from the difficulty of accessing meaningful amounts of investment capital. Financing from all sources continues to be in very short supply. This includes: institutional investors, private equity, venture capital, initial public offerings and other risk capital investors, especially for early-stage, emerging and high growth life sciences companies. The industry is also challenged with filling highly specialized technical positions such as chief technology officers and senior business development executives.

The types of companies that make up the life sciences industry also continue to evolve, featuring a continued increase in medical technology and device companies and a decrease in the number of human therapeutic development companies. There also continues to be a strong sub-sector of agricultural based companies along with functional ingredient and natural foods product companies.

The industry takes advantage of the great work in research at the province’s world-class post-secondary institutions.

Overall, the industry is characterized by companies with a high level of innovation, commercialization activity, new company creation, growth in employment, and growing revenues. It also provides diversification for the Alberta economy.

Alberta’s life sciences industry continues to be a major growth, diversification, employment and innovation engine for the province of Alberta.

2

Background and methodology

In the spring of 2015, 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 include research and development companies, manufacturers, service companies, consultants and distributors of life sciences products.

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

• 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

• Health biotechnology and pharmaceuticals

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

• Medical technology and devices

• Natural health products and functional ingredients

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, positions and growth expectations. The survey was distributed electronically to more than 200 life sciences company representatives. Partial or complete results were compiled from 137 of these companies for a response rate slightly higher than 69%. To supplement the resulting data, information from other surveys conducted by BioAlberta was used, in addition to information available in the public domain. In some cases, respondents chose not to answer all questions. Caution should therefore be used if extrapolating these results to the entire population of companies in the industry.

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

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


Overview of companies

When was your company established?

Twenty-five percent of the companies in the industry were created in the past five years, indicating significant innovation and entrepreneurship in the sector. Another 25% have existed for more than twenty years, indicating a solid basis of sustainable businesses. Clearly, there is continued growth in the industry in addition to a core segment of mature companies.

Year established

% o

f com

pani

es

25%

11%

17%

22%

25%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

1993 or earlier

1994 –1998

1999 –2003

2004 –2008

2009 –2014

4

Where in Alberta is your company located?

Consistent with prior State of the industry reports, most of Alberta’s life sciences companies (93.4%) are located in Calgary and Edmonton. The remainder are located in other cities such as Lethbridge, Red Deer and Lloydminster.

In which sub-sectors of the industry would your company be classified:

The two largest sectors in life sciences in Alberta are the medical technology and devices and the health biotechnology and pharma sectors, which combine to represent 69% of the industry. The medical technology and devices sector continues to be the highest growth area, growing from 38% of the industry in 2013 to 46% in 2015.

Note: the percentages in this chart sum to greater than 100% because many of the surveyed companies can be classified in multiple industries.

7%

58%

35%

Calgary region

Edmonton region

Other region

Medical technology and devices

58%

36%

7%

Health biotechnology and pharma

Agricultural biotechnology

Health IT

Environmental biotechnology

Industrial biotechnology and bioprocessing

Natural health products and functional ingredients

Other

17.5%

5.1%

4.3%

6.5%

10.2%

16.7%23.3%

45.9%


In which category(ies) would your company be classified?

Research and development continues to be the most significant category of companies (42%), followed by manufacturing (28%). There has been growth in manufacturing and consulting/service providers since the last survey in 2013.

In which phase of development is your lead health IT technology or product?

A significant number of products are currently in development (31%), which bodes well for the future potential for revenues, employment and the need for services in Alberta. In addition there is a significant segment of products in the marketplace (23%) generating revenues for companies based in Alberta.

Research and development

58%

36%

7%

Manufacturing

Consulting, contract research or other service provider

Distributor, wholesaler or retailer

Other

3%9%

18%

28%

42%


58%

36%

7%

Product engineering

Product demonstration or prototype

Regulatory approval

Scale-up manufacturing

Marketed product

23%

7%

7%

23%

9%

31%

6

In which phase of development is your lead medical technology and devices technology or product?

Approximately 35% of medical technology and device companies have marketed products, 17% have a product in demonstration or prototype stage and 15% have a product in research and development.

In which phase of development is your lead agricultural biotechnology, natural health or functional ingredient technology or product?

The majority of companies (55%) in this subsector have marketed products, while 24% are in research and development. This provides both (1) the stability associated with a significant mature group of companies with the potential for growth and (2) innovation from the developing companies.


58%

36%

7%

Product engineering

Product demonstration or prototype

Regulatory approval


Marketed product

35%

9%

13%

17%

11%

15%


58%

36%

7%

Regulatory approval


Marketed product

55%

10.5%

10.5%

24%


In which phase of development is your lead environmental biotech, industrial biotechnology, or bioprocessing technology or product?

The majority of companies in this subsector have a full scale commercialized plant and 29% have a pilot or demonstration plant. This is one of the more mature sub-sectors of the life sciences industry in Alberta, providing a stable and secure environment for companies to enter and grow.

For your health biotechnology and pharmaceuticals product, in which phase of development is your lead technology?

The structure of the industry is well balanced with both a significant portion of companies having marketed products, as well as a significant amount of products and technologies in research and development. The revenues from current products and services provide a return to investors and the products under development provide a pipeline of opportunities and growth for the future of the industry in Alberta.


58%

36%

7%

Pilot plant or demonstration plant

Full scale plant

57% 29%

14%


58%

36%

7%

Pre-clinical trials

Phase 1

Phase 2

Marketed product

29%

17%

3%17%

34%

8

How would you classify your company in its lifecycle?

The largest segment of companies (45%) classify themselves as in the growth phase while 30% classify themselves in the emerging phase. This indicates that many companies expect to be significantly larger in the future and are investing in technologies, innovation and their people in Alberta.

What phase do you expect your company to be in by 2016?

With the expected increase in the future growth phase, these results indicate that the prospects for innovation and increased commercial activity in Alberta’s life sciences sector are very strong.

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

29.7%

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

45.1%

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

25.2%

Total 100.0

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

15.4%

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

59.3%

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

25.3%

Total 100.0


How much is your company spending on research and development?

There has been a decline recently in the level of investment in research and development in Alberta’s life sciences sector. This may be due to a drop in the number of human therapeutic development companies, which tend to spend much more on research and development than the growing device, natural health and nutraceutical companies.

How many months of cash do you have available?

Months of cash on hand

A number of stable and mature companies have sufficient cash on hand to fund operations. However, the challenges of raising capital continue to be a major focus for management in development-stage companies.

0

20

40

60

80

100

120

140

160

180

200

Year

Tota

l R&

D s

pend

ing

($ m

illio

ns)

$135 $136.7

$128.8

$181.9

$175.6

$132.3

$108.6

20082004 2006 2010 2012 2014 2016

Months

6

10

60

0

Max

Mean

Median

Minimum0 10 20 30 40 50 60 70

Months of cash available

Tota

l per

cent

age

(%) o

f com

pani

es

0%

5%

10%

15%

20%

25%

30%

35%

0 – 4 5 – 8 9 – 12 > 12

30%

26%24%

20%

Research and development spending

10

In 2014, what was the average number of people employed at your company?

The largest segment of companies employed fewer than eight people (51%). This is reflective of the number of start-ups and very small owner-managed businesses that are the future of the industry in Alberta. Very few companies (6%) have more than 100 employees, indicating that this industry is a high growth area with few major mature companies.

How many people did you employ in your company in 2014 and what are your expectations for 2015?

Employment figures are trending upward for the industry in Alberta, both at a current level and a future expected level. These jobs are mostly high-paying positions for people with significant levels of education who bring value, knowledge and innovation to the marketplace. Assuming an indirect economic multiplier of four, the life sciences industry contributed approximately 18,000 jobs in Alberta in 2014.

Average number of employees

Tota

l per

cent

age

(%)

0%

10%

20%

30%

40%

50%

60%

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

51%

22%

12%

6%3%

6%

Year

Num

ber

of e

mpl

oyee

s

0

1,000

2,000

3,000

4,000

5,000

6,000

2004 2006 2008 2010 2012 2014 2015(expected)

3,316

4,793 4,5074,084

3,532

4,4774,610

Very few companies (6%) have more than 100 employees, indicating that this industry is a high growth area with few major mature companies.

Human resources


What percentage of your employees have a high school diploma, a post-secondary degree, or some other form of post-secondary education?

The life sciences industry continues to provide employment and entrepreneurial opportunities for a highly educated work force. The significant proportion of PhDs and Masters degrees in the industry speaks to a strong depth of knowledge that will continue to enable the growth of the industry and the attraction of additional professionals to Alberta.

Which of the following executive positions are the most challenging for your company to fill?

The highly specialized skills of business development executives and regulatory affairs personnel continue to be the hardest to find for life sciences companies in Alberta.

PhD degree

58%

36%

7%

Masters degree

Bachelors degree

Post secondary diploma

High school diploma

38%

15%

22%

14%

11%

Chief executive officer

58%

36%

7%

Chief financial officer

Chief scientific officer

Business development and sales

Regulatory affairs

Clinical and medical development

Manufacturing

Engineering

Other

8%

10%

9%

9%

9%35%

6%

6%

8%

12

What is your reported revenue (product, sales and services) for your fiscal year ending in 2014?

A small number of companies have annual revenues greater than $50 million, but the majority had annual 2014 revenues of $5 million and under (72%). This is consistent with the distribution of the number of employees in an earlier chart in this report, found on page 10.

What were your revenues for 2014 and forecast for 2015?

The industry generated more than $1 billion in revenues in 2014 and companies are optimistic that this will increase in 2015 by a significant factor.

What percentage of your 2014 fiscal revenue was earned in each of the following regions?

As we might expect, companies earned the largest share of their revenues in Alberta. Companies also competed strongly in international markets, generating significant revenues especially in the United States and Europe.

0%

5%

10%

15%

20%

25%

30%

Tota

l per

cent

age

(%) o

f res

pond

ents

31%

14%

27%

12%8%

3%5%

Revenues ($ millions)

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

35%

Alberta

58%

36%

7%

Rest of Canada

USA

Eurpoe

Asia

Other

6%

7%

8%

31%16%

32%

Year

0

200

400

600

800

1,000

1,200

1,400

2006 2008 2010

$1,210.5

$814.0

$1,242.6

$748.8

$977.4 $1,063.5

Tota

l rev

enue

s ($

mill

ions

)

2012 2014 2015forecast

Revenue


How much capital did you raise in the fiscal year ending in 2014 and estimate raising in 2015?

Alberta companies in 2014 increased the amount of capital they were able to raise. However, compared to other regions of Canada and the United States, the amount of capital is disproportionately lower when compared to the number of companies, the number of employees and revenues generated. This has been a major challenge for Alberta-based development companies in particular. For example, Alberta saw a total of 14 VC deals in 2014 valued at a combined $52 million, whereas British Columbia realized 72 deals worth a combined $554 million1.

0

25

50

100

150

200

Year

Cap

ital r

aise

d ($

mill

ions

)

2004 2006 2008 2010 2012 2014 2015(estimated)

$112.0 $117.0

$101.0

$131.7$137.4

$175.7

$163.5

1 Canadian Venture Capital & Private Equity Association. “2014 Canadian Venture Capital Market Overview.” http://www.cvca.ca/wp-content/uploads/2014/07/CVCA-2014-VC-data-deck1.pdf. Accessed September 2, 2015.

Compared to other regions of Canada and the United States, the amount of capital is disproportionately lower when compared to the number of companies, the number of employees and revenues generated.

14

Which sources did you use to raise capital in 2014?

Government-backed funding programs continue to be the most significant source of capital for the industry, followed by founders’ capital and angel investors. This points to the limited amount of venture capital and initial public offerings in Alberta as compared to other regions of Canada and the United States.

Which sources of capital do you intend to pursue in the future?

The expected future sources of capital are fairly consistent with recent history. This is consistent with the continuing lack of institutional and venture capital investors focused on the life sciences industry in Alberta.

Note: the percentages in these charts sum to greater than 100% because many companies accessed capital from more than one source.

Tota

l per

cent

age

(%)

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

Gov

ernm

ent

faci

litat

edpr

ogra

ms

Foun

der

equi

ty

Ang

elin

vest

ors

Fam

ily &

frie

nds

Cor

pora

tein

vest

ors

Deb

t

Publ

icfin

anci

ng

Ven

ture

capi

talis

ts

Inst

itutio

nal

Acq

uisi

tions

& d

ives

titur

es

Oth

er

56.16%

24.66%

31.51%

20.55%23.29%

20.55%

26.03%

13.7% 13.7% 12.33% 12.33%

Tota

l per

cent

age

(%)

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

Gov

ernm

ent

faci

litat

edpr

ogra

ms

Foun

der

equi

ty

Ang

elin

vest

ors

Deb

t

Cor

pora

tein

vest

ors

Fam

ily &

frie

nds

Publ

icfin

anci

ng

Ven

ture

capi

talis

ts

Inst

itutio

nal

Acq

uisi

tions

& d

ives

titur

es

Oth

er

42.86%

34.92%

22.22%20.63%

4.76% 6.35%7.94%

1.59%

14.29%

0.00%

22.22%

Financing


Which governmental support initiatives have you used?

The largest sources of government financing were from the Industrial Resource Assistance (IRAP) and Scientific Research & Experimental Development (SR&ED) programs. The Alberta Innovates Technology Futures (AITF) voucher program and the AITF Associates program were the next most actively accessed sources of funding for Alberta’s life sciences companies.

Note: the percentages of all the categories adds up to a figure greater than 100% because many companies accessed more than one source of government financing.

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

Oth

er

18.07%

Alb

erta

Inno

vate

s- T

echn

olog

y Fu

ture

s V

ouch

er P

rogr

am (P

revi

ousl

y A

E&T)

Alb

erta

Inno

vate

s -

Hea

lth S

olut

ions

(Pre

viou

sly

AH

FMR)

Alb

erta

Inno

vate

s- T

echn

olog

y Fu

ture

s A

ssoc

iate

s Pr

ogra

m (P

revi

ous

Inge

nuity

Ass

ocia

tes)

Alb

erta

Inno

vate

s- B

io S

olut

ion

Can

adia

n In

stitu

tes

of H

ealth

Res

earc

h (C

IHR)

Bio

Alb

erta

Med

ical

Pro

duct

D

evel

opm

ent

Prog

ram

(MPD

P)

AV

AC

Indu

stria

l Res

earc

h A

ssis

tanc

e Pr

ogra

m (I

RAP)

Inte

rnat

iona

l Sci

ence

and

Tec

hnol

ogy

Part

ners

hips

Can

ada

Prog

ram

(IST

PP)

Scie

ntifi

c Ex

perim

enta

l D

evel

opm

ent

prog

ram

Clim

ate

Cha

nge

Emis

sion

Man

agem

ent

Cor

pora

tion

(CC

EMC

)

Sust

aina

ble

Dev

elop

men

t Te

chno

logy

Can

ada

(SD

TC)

Bioe

nerg

y Pr

oduc

er C

redi

t Pr

ogra

m

19.28%

37.35%33.73%

8.43%13.25% 13.25%

10.84%

73.49%

61.45%

3.61%4.82% 2.41%4.82%

16


Globally, the life sciences industry offers tremendous economic potential. In Alberta, the industry delivers economic diversification; it attracts and retains highly educated people; and it promotes intellectual property development in the province. Albertans benefit when the rate of technological development and commercialization can compete with other global jurisdictions. The life sciences industry is already making a substantial contribution to the province’s research and development capability, intellectual capital and high technology economy. As the capacity for commercialization of life sciences products and services grows in Alberta, the industry will move closer to achieving its full potential. There has been an intentional effort to increase the effectiveness of industry and the healthcare system working together. Examples of this include Alberta Health’s “Health Technology Assessment and Innovation” process and the ongoing efforts by Alberta Health Services to make it easier for companies to do clinical trials in Alberta.

The innovation system is positioned to assist industry along its path to growth and, with its targeted policies and activities, contribute to accelerated development and success. The following are key areas of importance to companies that can boost their growth.

The top 3 most important issues for the industry are:

1. Improving the investment climate and funding opportunities

2. Continuing to improve tax based incentives for companies, including Angel tax incentives and flow-through shares

3. Adding sustainable funding sources, such as a Small Business Innovation Research (SBIR) program

Issues facing the industry

Improving the investment climate and funding opportunities, continuing to improve tax based incentives for companies (including Angel tax incentives and flow-through shares), and adding sustainable funding sources (such as a Small Business Innovation Research program) are the top three initiatives that would assist companies to expedite their growth.

18

Importance placed on the following issues:

0 10 20 30 40 50 60 70 80 90 100

Streamline immigration efforts and programs to make attraction of qualified personnel easier

Introduce life sciences in cross-curricular learning from grades 7-12

Government and industry partnerships to increase the availability of highly qualified personnel (e.g. internships)

Funding programs for labor training to attract and retain highly skilled workforce for Life Science SMES

Better environment for conducting clinical trials in Alberta

Enhance technology transfer from universities, colleges and institutions

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

Introduce an SBIR (Small Business Innovation Research Program)

Improve investment climate through globally competitive mechanisms such as matching funding models and enhanced venture capital environment

Introduce an Angel tax incentive

Introduce flow-through shares

Support life sciences through tax based instruments

Sustainable funding for research and commercialization

Build a supportive environment for innovation and commercialization

Access to highly qualified personnel

Very important Important Not important Not applicable

42.3

40.8

57.6

51

34

32.2

43.4

17

14.8

24.4

31.9

44.5

42.3

28.2

31.5

39.7

25

31.5

32.9

38.7

31.5

30.8

34

46.8

37.23

31.5

17.3

11.9

9.6

11.9

9.7

19.1

10.7

5.4

18

22.3

11.7

12.7

18.4

9.7

14.1

9.6

5.4

7.6

13.8

18.2

19.5

34

28.7

17

18.1

7.6

Streamlined application process for all provincial life science funding programs

Better access to the local market for our companies

n o t e s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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20

Industry participation BioAlberta and Deloitte would like to thank all of the survey participants who agreed to be acknowledged in this report.

Accumol Inc.

Adaptive Engineering Inc.

Afinity Life Sciences Inc.

Akshaya Bio Inc.

Alberta Research Chemicals Inc.

Alzheimer’s Innovation Institute Inc.

Angeltear Solutions Inc.

Aqua Air Systems Ltd.

Aquila Diagnostic Systems Inc.

Artsinteg Corporation

Associated Health Systems Inc.

ATI-Composites Canada Inc.

ATS ventures Inc.

Bertech Pharma Ltd.

Best Environmental Technologies Inc.

Biolipids Inc.

Biomotion Ltd.

BioNeutra North America

BioRefinex Canada Inc.

Bortec Biomedical Ltd.

Calgary Scientific Inc.

Campbell Scientific (Canada) Corp.

Canadian Bio-Systems Inc.

Canadian Greenfield Technologies

Centurion Medical Corporation

ChemRoutes Corporation

Classic Health Supplies Ltd.

ClearView Biostructures Inc.

Colman Prosthetics Orthotics Ltd.

CQI Consulting Ltd.

Dalynn Biologicals Inc.

Delta Genomics Centre

Detectit

DriveABLE Assessment Centres Inc.

DynaLIFEDx

Epsilon Chemicals Ltd.

Exciton Technologies Inc.

FameBioRefinery

Fytozimus Biotech Inc.

General Intermediates of Canada

Gilead Alberta ULC

GrowSafe Systems Ltd.

H3ALTH TECHNOLOGIES INC.

Himark Biogas Inc.

Imaging Dynamics Company Ltd. (IDC)

IMBiotechnologies Ltd.

Innovotech Inc.

IntelligentNano Inc.

Kent Imaging

KMT Hepatech Inc.

Lambert Radiation Shielding

Luxmux Technology Corporation

Medical Bionics Inc.

Metabolic Modulators Research Ltd.

Metabolistics Inc.

Metabolomic Technologies Inc.

MPowRX Health and Wellness Products Inc.

Mustus Energy Ltd.

Nanalysis Corp.

Neuro Investigations Inc.

Nova Green

Oncolytics Biotech Inc.

Orpyx Medical Technologies Inc.

Osteometabolix Pharmaceuticals Inc.

Parvus Therapeutics Inc.

PBR Laboratories Inc.

Permolex Ltd.

Prairie Biogas

Prev Biotech Inc.

priMED Medical Products Inc.

Progressive Optical Research Ltd.

Prosthetic Concepts

Q-Chuck Technologies Inc.

Quest PharmaTech Inc.

Radient Technologies Inc.

RadTag Technologies Inc.

Saf-T-Pak Inc.

Sagatech Electronics Inc.

Sage Biosciences Inc.

SBI BioEnergy

Seed Check Technologies Inc.

SinoVeda Canada Inc.

SolAeroMed Inc.

Stream

Symbiotic EnviroTek Inc.

Taiga BioActives Inc.

TC Scientific Inc.

Technology North Corporation

Tenby Medical, A Division of Pekisko Holdings Inc.

The Litebook Company Ltd.

Thermotex Therapy Systems Ltd.

Transcriptome Sciences Inc.

Troppman Prosthetics Ltd

Tyler Research Corp.

Verdant Energy Ltd.

Vista Technology Inc.

XORTX Pharma Corp.

XSENSOR Technology Corp.


Need more information?

BioAlberta

BioAlberta has been the central voice and organizing hub for the life sciences industry in Alberta since 1999. It is a private, not-for-profit industry association with more than 140 members. The association’s activities are focused on advocacy, promotion and networking, and industry development. In its advocacy efforts on the national stage, BioAlberta joins forces with other life sciences organizations such as its counterparts in other provinces and BIOTECanada.

Contact:Mel WongPresident, [email protected]

About Deloitte’s Life Sciences practice

Deloitte professionals have experience working with life sciences companies across the country and globally to assess their strategic options; assist in forming, establishing and maintaining 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; mitigation enterprise risk; and provide negotiation and advisory assistance.

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

Jeremy WebsterNational biotechnology leader780-915-0183 [email protected]

Bill StamatisNational life sciences [email protected]

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.

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Life sciences in Alberta State of the industry 2015

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