By Kristin Goff
Canada needs to develop a more focused biotechnology strategy, developing areas of excellence, to succeed in the competitive global market, according to the Conference Board of Canada.
"The past performance of Canada's biotechnology researchers and businesses is no guarantee of future success," Trefor Munn-Venn warns in a report Biotechnology in Canada.
"We lack focus at the national level; our commercialization record is weak; we have limited ability to harness cpaital; and we have a critical shortage of skilled talent," he said in the report released to coincide with the opening of the BioNorth 2005 conference in Ottawa yesterday.
In an interview later, Mr. Munn-Venn said Canada now stands at a key juncture, having developed a substantial pool of about 500 biotechnology companies, most of which are still not at the commercial stage. Just 10 of those companies represent about 70 per cent of the industry's market capitalization.
In a field where product development can take years, a study by Ernst & Young indicates that 38 per cent of publicly traded biotechnology companies have less than one year's worth of cash available, and that situation appears to be growing worse, said Mr. Munn-Venn.
For the industry to thrive, Canada will have to make its place in global markets as more companies move to the commercial phase.
"When we go to market in Canada the question is, 'Where are we going to dominate in the global supply chains?'" he said. "Our view is we should do it by design, rather than by accident."
Other countries have already adopted a strategic approach to biotechnology development, he said. For example, Britain has set a goal of becoming the best place in the world to conduct clinical trials. In India, two-thirds of all biotechnology investment is directed at the health sector. The U.S. is focusing the lion's share of its government funding on vaccines and other medical measures to counter bio-weapons.
The Conference Board looked at how Canada stacked up against several other countries in areas where its modest investments are now scattered. Those include biotechnology developments in agriculture, health, environment, food processing, aquaculture, bio-informatics and natural resources.
Canada appears to have some advantage or relative strength in food processing, environment and aquaculture-related research or commercial developments, according to teh report. But its authors didn't recommend any specific areas for Canada's biotechnology industry to emphasize.
"No single party should make the choices," said Mr. Munn-Venn. Strategy should be set, he says, through a detailed discussion and review by leaders in government, industry and academics and potential consumers. He warned they need to act quickly because the global market is evolving so fast.
"The fundamental issue is -- everyone recognizes that it is risky to make choices like that. But it is extremely risky not to make choices at all."
T.
(The Ottawa Citizen, Ottawa, Ontario, 29 Nov 2005, F3, Circulation 140,158)
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Posted by: Christian | October 27, 2010 at 12:46