Creation of a life-sciences and health technologies research facility
Montréal, October 16, 2015 – Oncodesign,a world leader in developing and evaluating therapeutic molecules for use in treating cancer and other serious illnesses, announced today the creation of a medical research facility in Greater Montréal. This investment comes on the heels of signing a joint venture agreement with North American company Mispro Biotech Services.
The new facility, combined with the opening of a commercial office near Boston, gives Oncodesign new prospects for growth in the North American market. “The opening of the Montréal site, along with the creation of our U.S. subsidiary, represents a key step in our strategy to grow our share of the North American experimentation market,” explained Philippe Genne, Founder and President and CEO of Oncodesign. “This is a booming sector that accounts for over 60% of world activity. We are facing increasing demand from our North American clients, and the facilities established in both Montréal and Boston will allow us to be even more competitive in terms of the solutions we provide.”
Supported by Investissement Québec and Montréal International, this expansion also gives Oncodesign the means to better respond to its clients’ needs by carrying out their pre-clinical pharmacology studies directly on-site.
“Working jointly with our partners, our teams in Québec and abroad are making every effort to attract innovative companies that are of strategic importance for Québec’s economy, like Oncodesign,” said Pierre Gabriel Côté, President and CEO of Investissement Québec. “By providing assistance as they look for the best site and the right partners, we are able to showcase our competitive advantages and support their growth,” he concluded.
“Oncodesign’s state-of-the-art expertise is contributing to the discovery of new therapies and biomarkers that will lead to the development of personalized healthcare for several types of cancer and illnesses with no known effective treatment,” said Élie Farah, Montréal International’s Vice-President of Investment, Greater Montréal. “Its activities, and particularly its pre-clinical evaluation services, will strengthen the Montréal region’s position as a hub of excellence in oncology and medical research.”
The company already works regularly with leading North American players in the industry, and in 2015 quadrupled its North American sales experimentation compared to the same period in 2014. Its order book has jumped 120% since the first quarter of 2014.
About Mispro Biotech Services
Mispro Biotech Services is a pioneering contract-service company specializing in the pre-clinical phase of therapeutic product development. Since its establishment in 2003, Mispro has maintained and expanded on its core competency as a developer, operator and provider of high-quality vivarium services. At each of its locations in Montréal and New York, Cambridge and Research Triangle Park in the United States, Mispro’s facilities feature state-of-the-art services and equipment to serve clients in the pharmaceutical, biotechnology and institutional sectors. Mispro’s facilities are fully accredited by the Association for Assessment and Accreditation of Laboratory Animal Care International (AAALAC).
Founded 20 years ago by Dr. Philippe Genne, the Company’s CEO and majority shareholder, Oncodesign is a biotechnology company that maximizes the pharmaceutical industry’s chances of success in discovering new therapeutic molecules to fight cancer and other serious illnesses with no known effective treatment. Backed by unique experience acquired with more than 500 clients, including the world’s largest pharmaceutical companies, and a comprehensive technological platform combining state-of-the-art medicinal chemistry, pharmacology and medical imaging, Oncodesign is able to predict and identify therapeutic uses for molecules and their potential to become effective drugs. Applied to kinase inhibitors, molecules that represent a market estimated at over $40 billion in 2016 and accounting for almost 25% of the pharmaceutical industry’s R&D investments, Oncodesign’s technology has already identified seven promising molecules with substantial therapeutic potential in oncology and other applications and led to partnerships potentially worth €350 million should predefined milestones be reached with pharmaceutical groups Sanofi, Ipsen and UCB. Based in Dijon, France, in the heart of the town’s university and hospital hub, Oncodesign has 95 staff.
About Investissement Québec
Investissement Québec’s mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment.
ABOUT MONTRÉAL INTERNATIONAL
Montréal International (MI) acts as an economic driver for Greater Montréal to attract foreign wealth while accelerating the success of its partners and clients. Its role is to attract foreign investment, international organizations and skilled workers to Greater Montréal and promote the region’s competitive environment. MI also works to find the best ways to position the region as an attractive investment destination and make recommendations to various levels of government to support Québec’s job-creating, high-value-added industries.
Created in 1996, Montréal International is a non-profit organization funded by the private sector, the governments of Canada and Québec, the Communauté métropolitaine de Montréal (Montréal Metropolitan Community) and the City of Montréal.
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