Minister of State Goodyear Promotes Canadian Biotech

OTTAWA, ONTARIO--(Marketwire - June 28, 2011) - The Honourable Gary Goodyear, Minister of State (Science and Technology), on behalf of the Honourable Christian Paradis, Minister of Industry, today wrapped up his participation at the 2011 BIO International Convention. The four-day event, the world's largest biotechnology conference and trade show, was held this year in Washington, DC. The Minister of State led a delegation of biotechnology and pharmaceutical executives and scientific leaders to promote Canadian biotechnology opportunities to stakeholders from around the world.

"Our government is committed to making sure that Canada remains a world leader in biotechnology research because of the benefits it provides for Canadians in terms of jobs and improved quality of life," said Minister of State Goodyear. "At BIO 2011, I had an opportunity to showcase our country as an international destination of choice for investors and researchers, and I look forward to helping our life sciences industry become even more globally competitive."

The Government of Canada has made significant investments in biotechnology and health research during the last decade, with further funding announced in Budget 2011:

• Up to $100 million to help establish a Canada Brain Research Fund to support neuroscience and accelerate discoveries;

• An additional $65 million for Genome Canada;

• More than $52 million to the three federal granting councils to support research, industrial research chairs and joint college–university commercialization projects;

• $53.5 million for the creation of 10 new Canada Excellence Research Chairs; and

• $4 million to the Federal Economic Development Initiative in Northern Ontario to support the construction of a cyclotron for the production of medical isotopes.

Minister of State Goodyear took part in several events at the convention including meetings with stakeholders and the opening of the Canadian Pavilion.