Highlights
- Fonds investments in life sciences since its creation total more than $1.2 billion
- Life sciences sector among Québec economy’s four sectors of excellence prioritized by the Fonds and in which more investments are planned
- A dedicated life sciences investment team
Montréal, May 5, 2017 – Active in the Québec life sciences sector since the end of the 1980s, the Fonds de solidarité FTQ will be a strategic and financial partner in the implementation of the Québec government’s Life Sciences Strategy, announced today.
By combining the expertise developed over almost 30 years with its offer of patient capital, the Fonds will help the government to foster the emergence and growth of Québec life sciences firms, which will some day become beacons of the economy. The Fonds will also leverage its international partner network to help patients and further the economy.
This is how the Fonds will contribute to making Québec one of the five most important life sciences hubs in North America by 2027, and help attract $4.4 billion in private investments by 2022, two objectives of the Government’s plan “L’innovation prend vie”.
Quotes
“Just like the Québec government, the Fonds de solidarité FTQ believes strongly in Québec’s potential in this field. That’s why our team invests each year in promising niches by supporting the growth of up-and-coming companies, biotechs and specialized funds. As a result, the Fonds has invested over $1.2 billion dollars in this strategic field.”
Alain Denis, Senior Vice-President, Innovation, Fonds de solidarité FTQ
“Based on what is happening in the U.S. and Europe, we’re asking institutional and private investors to step up their efforts and reinvest in this industry to support Québec’s ambitions in the life sciences sector. Together, we can help Québec take its rightful place on the global scene in a leading-edge sector in which it excels from a scientific aspect.”
Didier Leconte, Senior Investment Director, Life Sciences, Fonds de solidarité FTQ
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital fund that channels the savings of Quebecers into investments. As at November 30, 2016, the organization had $12.2 billion in net assets, and through its current portfolio of investments has helped create and protect over 187,000 jobs. The Fonds is a partner in more than 2,600 companies and has nearly 618,000 shareholder-savers. For more information, visit fondsftq.com.
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Information for media representatives only:
Patrick McQuilken
Senior Advisor, Media Relations and Communications
Fonds de solidarité FTQ
Phone: 514 850-4835
Mobile: 514 703-5587
Email:
pmcquilken@fondsftq.com