Montreal, October 2, 2007 – As part of the BioContact symposium to be held in Quebec City on October 3 to 5, 2007, Michel Lagueux, Senior Vice-President of Health Sciences at the Solidarity Fund QFL, will give a speech to the biopharmaceutical professionals on Thursday, October 4, at 8:30 a.m. He will use this occasion to reiterate the Fund’s strong commitment to this sector and announce the Fund’s long-term investment strategy.
Quebec is an important strategic pole in the global health sciences sector and is known for the quality of its labour and its well-organized infrastructure. Over the last three years it has managed to attract $300 million in foreign capital investment, a sign that Quebec offers good investment opportunities in this area.
“The Solidarity Fund has been making investments in this sector for over 10 years,” says Mr. Lagueux. “With our financial partners, we have helped structure the market by creating specialized funds that provide complementary expertise to companies in their start-up or development phases. We have also fostered foreign investment in Quebec, which has further energized the industry. Over the years, the Fund has invested $700 million in the health sciences sector. Our current portfolio consists of over 40 companies in different sectors and in various stages of development.”
Working with a strong specialized team of scientists that includes several PhDs, financiers and experts in marketing and market analysis, the Fund remains steadfast in its commitment to corporate growth. Its strategy is based on making long-term investments and optimizing portfolio diversification by sector, by technology and by stage of development (start-up or commercialization). In addition, the Fund will continue to balance its portfolio between public and private companies and between its various specialized funds.
About the Solidarity Fund QFL With net assets of over $7.2 billion as at May31,2007, the Solidarity Fund QFL is a development capital company that through its RRSP channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and to further Québec's economic growth. The Fund is a partner, either directly or through its network members, in 1,696 companies. It currently has nearly 575,000 shareholders and has helped, on its own or with other financial partners, to create, maintain and protect over 122,000 jobs. For more information, visit
www.fondsftq.com.
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Information:
The following telephone number is provided for the exclusive use of journalists and other media representatives.
Source: Josée Lagacé
Senior Press Relations and Communications Advisor
Solidarity Fund QFL
Telephone: 514-850-4835
Email: jlagace@fondsftq.com