Global Biotechnology Week begins today

P.E.I. has several activities planned, including an open house for an expansion

Considered to be one of the economic drivers on the Island, the bioscience sector continues to grow with more than 50 companies compared to a dozen a decade ago.

Global Biotechnology Week, which begins today, is an opportunity to celebrate the industry, its 1,500 employees and the creation of the Prince Edward Island BioAlliance in 2005 to help grow and promote the sector.

“The P.E.I. bioscience industry has become one of our leading sectors in export sales and is creating exciting employment opportunities that support our population growth strategy objectives of recruitment, repatriation and youth employment,” Premier Wade MacLauchlan said in a press release. “We are pleased with the successes that we’ve seen and look forward to continued growth in this area.”

Even though the industry is growing with more business opportunities and national and international recognition, Russ Kerr, chairman of the P.E.I. BioAlliance, says the industry is facing challenges.

“Our challenge now is that we have run out of the specialized manufacturing and lab facilities necessary to house the pipeline of new businesses coming into the province. We are working hard with our partners to address this bottleneck to growth,” he said.

“Collaboration between industry, government and academic partners is what sets P.E.I. aside from other jurisdictions and is what is driving the success of the biotechnology industry in Prince Edward Island.”

The week’s activities include company expansion announcements, open houses, scientific poster sessions, national award presentations to Islanders in the industry, emerging company presentations and networking opportunities.

BioVectra Inc. is holding an open house Thursday to announce an expansion.