Speech Article from  Federal Economic Development Agency for Southern Ontario

Archived - AMF Announcement for Therapure Biopharma Inc.

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Speaking Points

Brad Butt, Member of Parliament for Mississauga-Streetsville

Mississauga, Ontario

July 23, 2015

Check against delivery

Good morning ladies and gentlemen, friends and guests.

Thank you for the warm welcome Minister Goodyear, and thank you for that great introduction.

It is truly a great day to be at Therapure Biopharma today.

As Minister Goodyear noted, our Government is dedicated to supporting Canada's manufacturers and businesses like Therapure.

Investments in advanced manufacturing complement our efforts to create a low-tax environment for business investment, ensuring businesses can expand access to foreign markets, supporting innovation and world-class research, training a highly skilled workforce, and creating business opportunities through government procurement.

Our Government is proud to support innovative companies like Therapure.

And we are not the only ones to notice your success – I know you have received awards of recognition from BioTech Canada in 2012, the Contract Manufacturing Organization in 2013, and the International Alternative Investment Review in 2014.

Your success means success for southern Ontario and Canada.

In this spirit of growth and prosperity, today I am pleased to announce another contribution to this great region.

Ladies and gentlemen, our Government is proud to announce that we are providing Therapure with a $20 million repayable contribution, under the Advanced Manufacturing Fund initiative.

The funding will be used to accelerate the design, development and commercialization of Therapure's PlasmaCap Expanded Bed Absorption technology. Their technology is a first-in-the-world technology and allows for the separation of blood protein more effectively and faster than anywhere else.

Therapure's process yields more protein from the same amount of blood and does so faster, and at a lower cost, than other similar processes.

Additionally, Therapure will be marketing and selling a unique 'turn-key solution' to global clients allowing them to engage in the separation of blood proteins in places where no such services currently exist.

No other company offers this type of a solution and we're proud to see a firm in southern Ontario take on this innovative and important project. 

This innovative turn-key solution will create opportunities for countries to produce locally, treat more patients with the same amount of blood and reduce health care system costs.

Therapure's technology will allow clients to more easily separate important blood proteins that are used to treat patients with chronic care conditions, to replenish and maintain blood volumes after a traumatic blood injury or during surgery.

Today's announcement and Therapure's work will have a direct impact on our economy.

The project is estimated to create 91 direct jobs over the next four years in addition to jobs that will be created across Therapure's supply chain.

This is the kind of project I love to talk about because it is through this type of undertaking that we can establish southern Ontario as a world-class cluster for biologics and plasma protein technology.

Additionally, Therapure has committed to support skills development and knowledge sharing within southern Ontario by providing training on biopharma product development and commercialization. This will ensure that experience and knowledge in this field is retained right here in southern Ontario.

Today's announcement means greater productivity and opportunity for our manufacturers, jobs for our people and prosperity for this province and this country.

Our Government will continue to invest directly in transformative projects like this one, where the return on our investment will benefit taxpayers and the country directly.

I am confident the Advanced Manufacturing Fund will do exactly that for Therapure. 

Congratulations again. I am looking forward to seeing the important work being done by Therapure as it takes shape. I wish all of those involved the best of luck and success as you progress.

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Hon. Gary Goodyear Federal Economic Development Agency for Southern Ontario Economics and Industry

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