Montréal, October 14, 2015 – By signing a global strategic alliance with enGene, Janssen Biotech, a subsidiary of Johnson & Johnson, is recognizing the potential of this Montréal biotech specializing in gene therapy for inflammatory bowel disease (IBD), namely ulcerative colitis. This is how Alain Denis, Senior Vice-President, New Economy, at the Fonds de solidarité FTQ, reacted to today’s announcement by the two firms. In January, the Fonds made its first investment in enGene as part of a Series B financing round that raised $13.5 million.
“The global strategic alliance between enGene and Janssen attests to the Montréal biotech’s potential. Led by dynamic entrepreneur Dr. Anthony Cheung, enGene is taking an important step for its future with this agreement. Québec’s qualified labour force, research and service infrastructures and the availability of capital are what convinced Anthony Cheung to grow his company right here in Montréal. Besides the positive impact for enGene, this agreement should have a positive impact for Québec’s life sciences industry,” said Mr. Denis.
enGene currently has 17 employees in Montréal. The company is expected to hire about 10 highly qualified professionals to meet the needs of this agreement.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $11.1 billion as of May 31, 2015, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec’s development. The Fonds is a partner, either directly or through its network members, in more than 2,550 companies. With more than 600,000 shareholder-savers, the Fonds helps create, maintain and protect more than 176,000 jobs. For more information, visit www.FondsFTQ.com.
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