Biotech firm gets federal, provincial funds for advanced manufacturing

Canada’s largest biotech company, STEMCELL Technologies, will receive $45 million to develop regenerative medicine products in an advanced manufacturing facility. The federal government and British Columbia will each contribute $22.5 million for their project that includes building a $138-million production facility by 2022, and consolidating the three Vancouver locations of the company into a single Burnaby-based campus. This will generate an additional 675 jobs in BC by 2022, boosting the current 900 STEMCELL jobs in the province. By 2031, an estimated 2,170 jobs will be added to BC by the company. Touted to put the province in the forefront of research, the company facility is also expected to develop and manufacture an expanded array of products for cell-based therapies. STEMCELL is also seen to benefit the supply chains, public research, training and skills development, as well as secure valuable intellectual property. The company's market covers more than 70 countries where the majority of the 2,500 STEMCELL products are exported. The federal funding will come from the Strategic Innovation Fund Program.