The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Tag Archives: BDC

More OETF Investments Announced, Including NeurAxon

The Ontario Emerging Technologies Fund got off to a bit of a slow start on the life sciences front, but last month it added Lumira and CTI Life Sciences as qualified investors. Now, CTI has taken advantage of that status with OETF participating in a $14 million round of convertible debentures issued by NeurAxon, along [...]

$50 million to BDC for Ontario Tech Investments, Will “Collaborate” With Ontario Venture Capital Fund

The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) is providing $50 million to BDC: $35 million for direct investments in “early-stage firms in Southern Ontario” and $15 million for LP investments in VC funds “focused on Ontario-based opportunities.” Rather than relying [entirely?] on internal BDC resources, “as part of its decision-making process, the BDC [...]

New Data Shows 70% of Canada’s Biotech Companies Have Under 12 Months’ Cash. BIOTECanada’s New Ask: Government Loans.

A Canwest story today highlights new BIOTECanada data showing 70% of survey respondents have under 1 year of cash, up from 50% in January.  FierceBiotech picked it up as well, guaranteeing a full dose of international attention.   Even though the remaining 30% of respondents likely include some with big recent successes — Bioniche, Allostera and Zymeworks – and some with creative [...]

Post-Vacation Brain Dump: Canadian Developments

Here’s a bit of Canadiana to start off the catching up: MRI Minister Wilkinson gave a speech teeing up the Ontario government’s plan to revamp the Ontario Commercialization Network into a more integrated “Ontario Network of Excellence,” reorganizing twelve core programs into four.  This is presumably the first stage of follow-up from the Steering Committee report in [...]

New Funding for BDC Says Venture Capital in Canada “Tastes Great!”; Kedorsky Says “Less Filling!”

Yesterday Tony Clement announced an additional $450 million in funding to BDC:* $100 million in credit guarantees, $260 million for follow-on investments in companies where BDC is already a direct investor, and $90 million to invest in venture funds.  The follow-on money and the LP money will be spent over 3 years. (On purpose. (Ha.)) All [...]

More New Canadian Tech VC Funding

The Business Development Bank of Canada (BDC) is putting $75 million, allocated in the Federal 2008 budget, into the new Tandem Expansion Fund. The Fund expects a first close of $300 million this summer, and will invest in ”Canadian technology growth companies.” At the helm are Charles Sirois and Brent Belzberg.  More details about the team and [...]

Allocating Spending to Support R&D: UK, U.S. and Canadian Approaches

The U.S., Canada and the UK have all acknowledged the central importance of R&D even in these recessionary times.  However, the three national governments have decided to focus their spending on different steps of the R&D equation: Education: UK Takes the Long View British PM Gordon Brown, in a speech this week, identified three priorities: research, education and training, [...]

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