The new fund will strengthen Canada’s life sciences ecosystem
Montréal, November 6, 2019 – As researchers in Québec and elsewhere in Canada develop the next generation of treatments and cures for conditions and illnesses of all kinds, the need for capital and expertise grows. That is why the Fonds de solidarité FTQ is investing $22.5 million in the launch of Amplitude, a new Canadian precision medicine fund.
“The Fonds de solidarité FTQ is always looking to support promising funds headed by managers with a proven track record,” said Didier Leconte, Vice-President for Investments, Life Sciences and Funds-of-funds at the Fonds. “With Jean-François Pariseau and Dion Madsen leading the way, we are confident that Amplitude will strengthen Canada’s life sciences ecosystem with a particular focus on building companies with scale potential. By being part of the initial investors in this new fund, the Fonds is sending a clear message: the life sciences industry in Quebec and elsewhere in Canada is vibrant and brings hope to patients around the world.”
“We believe this investment recognizes the growth of Montreal as a healthcare innovation centre. Companies, like Milestone Pharmaceuticals, Imagia and the first Amplitude investment, Repare, show the depth of our industry. The Fonds’ early support for the Amplitude strategy was critical to our success,” said Mr. Pariseau, Partner at Amplitude Venture Capital.
The Fonds de solidarité FTQ’s first investment in life sciences was in BioChem Pharma in 1989. Since then, the Fonds has invested more than $1.5 billion to help start-up companies developing new drugs, support businesses going through a new stage of their development, and stimulate the financing landscape through specialized funds such as Amplitude.
The Amplitude press release is available on their website (click here).
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital investment fund that channels the savings of Quebecers into investments. As at May 31, 2019, the organization had $15.6 billion in net assets, and through its current portfolio of investments supports 215,104 jobs. The Fonds is a partner in 3,126 companies and today has more than 700,000 sharholder-savers.