Summit in Vancouver drawing global attention to BC companies helping develop COVID-19 vaccine

VANCOUVER (NEWS 1130) –The 5th annual Life Sciences BC Investor Summit starts Monday with the two-day virtual event in Vancouver showcasing some companies already playing key roles to help eradicate the pandemic.

Wendy Hurlburt, the president and CEO of the non-profit association, says this sector already supports almost 20,000 health-care-based jobs.

“We in BC have punched way above our weight providing incredibly impactful, innovative solutions.”

She says one company helping develop a vaccine is Acuitas Therapeutics –a Vancouver-based biotechnology firm taking part in German clinical trials.

“Their technology is the cornerstone of some of the vaccine discovery, so Life Sciences is significant in this. Also, for us to be able to build our sustainable health care system and drive innovation.”

Hurlburt says the industry is one of the few thriving during the pandemic because there’s lots of global interest in seeing who will be first to find a cure.

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“It’s very, very relevant. The life sciences sector is playing a huge role in trying to find solutions for the pandemic.”

Hurlburt says 33 partners featured at this year’s summit include some helping to develop a vaccine for the virus.

“AbCellera, often been heard in the news, the federal government gave them $175 million back in March — whose technology is being used to discover the anti-bodies to be able to fight COVID-19.”

According to Hurlburt, more than 50 potential investors are dialing in from Asia, Europe, the United States, and other parts of Canada.

“We have world-class research that has led us to the place that we can actually continue to drive innovation and look for ways of discovering both drugs or medical devices or digital health therapies that are really going to be helpful.”

She adds she has spent a lot of time this year helping certain companies pivot, so they can play a bigger role in fighting the pandemic.

“Starfish Medical out of Vancouver Island has a contract with the federal government to manufacture ventilators, as does Triumf, part of a coalition where they are also manufacturing ventilators.”

The summit is also expected to give digital health, therapeutics, and medical technology entrepreneurs a chance to get some feedback from potential investors.

Hurlburt says 1,500 more jobs have been created over the last 18 months and that’s partly because what many are working on right now is critical to the pandemic, so more support from the government would be appreciated.

“We want to get that science out of the labs and into the marketplace and in order to do that we need some capital, resources, and access to markets and data. So, one of the challenges in this sector is we would love to see partnered investments in trying to get this amazing innovation –not only into our health care system to drive health care’s improvement but also in order to create jobs.”

She points out three global pharma companies — Amgen, Johnston & Johnston, and Takeda — will make what she calls ‘Reverse Pitches’ at the summit.

“Where they’re going to tell us what innovation they’re looking for and what type of business deals they’re looking for people in the community.”

The Trade Commissioner Service of Global Affairs Canada is also making a presentation.