adMare BioInnovations Expands with New Wet Laboratory Space in Vancouver
June 27 2024
Vancouver (BC) - June 28, 2024 – adMare BioInnovations is delighted to announce the location of its new wet laboratory facility to support emerging life sciences companies in Vancouver, made possible through the support of the Ministry of Jobs, Economic Development and Innovation (JEDI).
“As part of B.C.’s Life Sciences and Biomanufacturing Strategy, the Province is investing $10 million in this new facility with adMare to help grow early-stage, local biotech companies,” said Brenda Bailey, Minister of Jobs, Economic Development and Innovation. “Together, we will continue to help this rapidly expanding ecosystem to grow and thrive leading to more solutions to global health challenges while creating good jobs for British Columbians.”
The life science industry is flourishing in British Columbia, hosting many successful companies that develop life-saving treatments for patients. With close to 20,000 jobs, the third largest concentration in Canada, the sector is experiencing the highest demand for laboratory space in 15 years, coupled with a very low vacancy rate in existing buildings.
To address this growing need, adMare is expanding its footprint in Vancouver by establishing a new Innovation Centre. adMare has entered a long-term lease at the M4 Main Alley site, where an entire floor will be designed into flexible, turn-key lab space. This new facility will support more than 20 early-stage ventures over the initial five-year period. In addition to the support of JEDI, this project is made possible through the collaboration of many partners within the ecosystem, including Life Sciences British Columbia, and Westbank Corp.
“This project is part of adMare’s vision of Canadian life sciences leading the world. Like our Innovation Centres in Vancouver and Montreal, this new facility will provide a collaborative space equipped with all the resources and support needed for companies to scale-up and develop new life-saving therapies for patients," said Gordon C. McCauley, President & CEO of adMare BioInnovations. "In our existing facilities we see how effective this model is helping emerging companies grow leading to the next generation of anchor companies.”
The new site, expected to be ready in the fall of 2025, is strategically located near other prominent life science organizations, academic institutions and hospitals, such as STEMCELL Technologies, AbCellera Biologics, Zymeworks, the University of British Columbia, Vancouver General Hospital and the future St. Paul’s Hospital research sites. This proximity will facilitate exchanges and collaborations, further contributing to this dynamic life sciences hub in Vancouver.
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For More Information
Media Contacts
Mounia Azzi
Vice President, Corporate Development
adMare BioInnovations
mazzi@admarebio.com
About adMare BioInnovations
With a strong track record of globally-competitive scientific discovery, Canadian life sciences are primed to lead the world. To make this a reality, adMare BioInnovations uses its scientific and commercial expertise, specialized R&D infrastructure, and seed capital to build strong life sciences companies, develop robust ecosystems, and foster industry-ready talent. It re-invests its returns into the Canadian industry to ensure its long-term sustainability. adMare has helped build 36 companies, of which 25 are still active. These companies have attracted $2.4 billion of risk capital, have a combined value of $5.7 billion, and have created around 1,000 jobs in Canada. Our dynamic Montreal and Vancouver Innovation Centres have been home to 48 life science companies to date, with the 27 current resident companies employing over 350 life sciences professionals. The adMare Academy has trained more than 750 alumni — 92% of whom are employed in the life sciences industry. For more information, please visit www.admarebio.com.
