Canadian biotech funding came from diverse sources this week.
Even deals that looked traditional, such as Aquinox’s $25 million raise, included corporate venture capital funds (in this case J&J and Pfizer). These pharma-backed venture funds continue to play a big role in supplementing traditional VCs’ coffers.
In B.C., the government put money towards research on personalized medicine and medical isotopes, while the Ontario government’s OETF isn’t attracting qualified investors as quickly as some would like.
Other government agencies disbursed some funds as well, with Alberta’s Climate Change and Emissions Management Corporation joining FONDACTION, Innovati0n PEI, the U.S. Navy and USAID in supporting Canadian commercial projects this week.