How technological evolution can help businesses be competitive without affecting workers
ReadJust technology transition
"
I dream of seeing one of our medications become accessible around the world, even in communities where medication is difficult to supply."
— Giles Day, Ability Biologics, a partner company
Why it’s important to us
In 2022, 58.3% of Québec companies were using at least one cutting-edge technology, which is less than Ontario (66.2%) and Canada as a whole (62.1%).[1] The technology transition is critical to ensuring the resilience, competitiveness and productivity of local businesses as well as complying with increasingly stringent environmental standards.
We’re committed to accelerating this transition and supporting the technological advances that will make a positive and lasting impact on our society. And as always, people will always be at the heart of this transition.
58.3%
of Québec companies were using at least one cutting-edge technology in 2022.[1]
35.1%
of Québec companies cited recruitment difficulties as the biggest obstacle to adopting advanced technology in 2022.[2]
17.4%
of Québec companies invested $111.3 million in 2022 to train their staff to adopt cutting-edge technology.[2]
Our approach
Innovation—especially when it comes to the technology transition—is crucial for Québec’s economic development, but it must take into account the reality, resources and needs of local businesses. We believe that technology should serve people, not the other way around. That’s why we invest in solutions that create value for companies, workers and all Quebecers.
Helping our partner companies make a just technology transition
Our team of Asthuce professionals offers a wide range of services to local companies who want to make a successful technological transition: help with software package selection, project management maturity analysis and IT value chain maturity analysis. Our approach allows us to fully understand users’ needs so we can ensure the effectiveness of the chosen technology solutions and promote their adoption.
Solutions space
Wondering how technology can help your business and your teams thrive? To help you better understand the technological transition, we’ve gathered some useful information here. Together, we can get there.
Investing in new technology companies or funds that promote the technology transition
Whether it’s life sciences, the environment or technology, we invest your capital in promising companies and funds where technology serves people. We’re committed to doing things differently. And we do so by putting your interests at the heart of all our investments.
Ability Biologics, reinventing medical discovery with artificial intelligence
Sherbrooke and Montréal
"
By mixing computer-generated data with laboratory data, we can now develop more precise immune treatments in significantly less time."
— Giles Day
President and co-founder
Ability Biologics
Working together for healthier populations
Giles Day is CEO and co-founder of Ability Biologics, a new Montreal-based company specializing in novel multi-functional biotherapeutics targeting specific cells. The company, established in 2023 following a financing round led by Amplitude Ventures with participation from the Fonds, intends to transform and accelerate the drug discovery process. To achieve this, it uses AbiLeapTM, an antibody discovery engine that enables the creation and identification of fully human antibodies with unique properties.
"
A.I. has the potential to help us create antibodies that can be used to develop drugs capable of treating cancer, autoimmune and a variety of other diseases. But for that to happen, we need to train A.I. models using very precise databases that accurately describe how a biotherapeutic should look and behave, which very few organisations currently have."
AbiLeap integrates precise data, trained models, and biological processes to identify biotherapeutics.
Superior drugs thanks to superior data
Even today, most organizations using A.I. to develop antibodies use a range of public data and biophysical methods to develop antibodies. As a result, the antibodies developed are often poorly suited to be human therapeutics.
"
With AbiLeapTM, we have focused on and analyzed all existing therapeutic antibodies, then combined that with our proprietary data. This enables us to develop new ones that are not only specific for the small subset of cells we’re targeting, but incredibly stable and easy to manufacture."
Funding from the Fonds, which has a wealth of expertise in life sciences, and from other partners has made it possible to build out the AbiLeapTM platform, hire a team of outstanding scientists in Québec and move into a carbon-neutral state of the art laboratory in Sherbrooke. If all goes well, two biotherapeutics developed by Ability Biologics will be tested on humans by the end of 2028, which is much faster than the usual bench-to- -clinic process.
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Moving to Québec has enabled us to hire leaders in the field. By establishing ourselves in this province filled with artificial intelligence talent, we hope to become one of the most innovative organizations in therapeutic antibody development."
Changing lives of all kinds
Like every pharmaceutical company in the world, Ability Biologics wants to develop drugs so that our societies can lead healthier and better lives. But what the organization does is truly one of a kind.
"
Our technologies will reduce the number of solutions that have to be discovered, developed and tested before we find one that truly works in humans. Less trial and error mean less time and money spent, and less consumption of materials such as plastic, which is widely used to conduct laboratory experiments. It will also translate in better drugs with less side effects in humans."
Another critical component of the company’s plan is the type of biotherapeutics they are developing. Modern biotherapeutics, such as some Covid vaccines, are often produced in extremely complex formats that require complex cold chain storage to extend the shelf life. Ability intends to develop similarly complex biotherapeutics, but in very simple formats that don’t require special handling. Because of this Ability hopes that this strategy will translate into a greater proportion of the world’s population having access to these innovative therapeutics. And to get there, the entrepreneur intends to continue developing the organization and eventually become a sought-after employer in North America.
"
Our dream is to see our drugs become accessible all over the world, even within communities where drugs are rarely available, at prices that enable mass adoption."
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123As at May 31, 2024.
Information
All the information and data provided on this website are for information purposes only; they are not intended to provide advice or recommendations of a financial, legal, accounting or tax nature with respect to investments. Although they are deemed reliable, no representation or warranty, express or implied, is made as to the accuracy, quality or completeness of this information and data. The opinions expressed should not be construed as a solicitation or an offer for the subscription or sale of shares of the Fonds de solidarité FTQ or the units referred to herein and should not be viewed as a recommendation. We recommend you consult your legal advisor.