The impact of Budget 2021 on U of T’s bioinnovation ecosystem
With an eye to supporting Canada’s pandemic recovery and preparing for future threats to public health, the federal government recently announced $2.2 billion in investment over seven years in the life sciences.
“These growing fields are not only critical to our safety, but are fast-growing sectors that support well-paying jobs and attract investment,” the budget document reads.
The investments are welcomed by the University of Toronto and will help the university to modernize critical lab infrastructure, support cutting-edge research and industry partnerships, and train the next generation of researchers, says Christine Allen, associate vice-president and vice-provost, strategic initiatives and professor in the Leslie Dan Faculty of Pharmacy.
Investment in biomanufacturing – the manufacturing of biological therapies such as vaccines – is critical to ensure the health security of the population, support the development of therapies including biologics and cell-based therapies, and prevent locally developed biomedical technologies from moving outside of Canada for manufacturing and commercialization.
There will be another pandemic at some point, and we need to prepare ourselves so that we’re not scrambling. At the same time, there are other emerging concerns such as antimicrobial resistance. These investments will bolster a life sciences ecosystem that can respond to these threats and create high-quality jobs and growth.
Read more (Geoffrey Vendeville)