Life Sciences

The Life Sciences sector in Alberta is an emerging part of the economy that benefits from the highly skilled workforce and the favourable business environment from the province. Alberta’s biotechnology industry is comprised of more than 60 companies, with 40% of them having been created since 2000. The vast majority (75%) of these companies are focused on innovative health treatments and products. Agricultural biotechnology is the second largest segment of the industry, followed by the bioinformatics and functional foods/nutraceutical segments. The industry directly employs more than 1,200 people, and it is estimated that the total employment impact (direct and indirect) is 3,600 employees. Alberta’s biotechnology industry is clearly adding considerable value to the province. While Statistics Canada figures for 2001 estimated that revenue for the province’s biotechnology industry was $125 million, the latest returns show a large increase. 25 of the 60+ companies surveyed by BioAlberta, reported total revenues of $285 million. 18 of the companies also reported that they had collectively raised more than $85 million in new investments.