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Meric S. Gertler and Nichola J. Lowe Program on Globalization and Regional Innovation Systems Centre for International Studies University of Toronto Presentation to the 6 th Annual ISRN Meeting Wosk Centre for Dialogue Simon Fraser University, Vancouver May 13-14, 2004.

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hybrid pathways diversity convergence in toronto s life science innovation system
Meric S. Gertler and Nichola J. Lowe

Program on Globalization and Regional Innovation Systems

Centre for International Studies

University of Toronto

Presentation to the 6th Annual ISRN Meeting

Wosk Centre for Dialogue

Simon Fraser University, Vancouver

May 13-14, 2004

Hybrid Pathways: Diversity & Convergence inToronto’s Life Science Innovation System
toronto s life science cluster mixed messages
Toronto’s Life Science Cluster: Mixed Messages
  • ICF study: one of largest life science clusters in North America
  • ‘Profile problem’
    • ‘hidden’ within a large, diverse economy
    • No high-profile, large, home-grown dedicated biotech ‘star firms’
    • GTA life science: highly diverse mix
  • Argument: former liabilities becoming virtues
economic value of diversity
Economic value of diversity
  • Increases variety in knowledge pool (within firms, within city-regions), raising potential for innovation from interactive learning
  • Decreases risk for individual firms (multiple activities, strengths, sources of revenue)
  • Increases resilience of RIS overall (a more diversified portfolio; learning, adaptability)
regional life science innovation system
Regional Life Science Innovation System
  • National, provincial institutions shape framework for regional actors, networks, policy initiatives
  • Interaction between these different scales of governance helps shape unique local characteristics of system, capabilities of actors (firms, scientists, organizations)
  • Local capabilities, characteristics nurture local start-ups; also attract global players
  • PSE system supports development of talent, ‘stars’; quality of place determines retention, attraction
gta s life science innovation system supply side
GTA’s Life Science Innovation System: Supply Side
  • Knowledge production:
    • US-style public $$ for university research (CIHR, NSERC)
    • But university system dominated by public ownership; both federal & provincial role
    • US-style star scientist system (recently enhanced: CRCs, CFI, ORDCF, OIT, PREA)
  • Knowledge exploitation:
    • US-style entrepreneurial system of firm formation
    • US-style financial system (private VC, angels, TSX)
  • Regulatory environment:
    • IP rights: no Bayh-Dole Act (lots of local variation)
    • Federal role: Health Canada (drug approval); patent regime; mandatory licensing (birth of generic drug industry)
gta s life science innovation system demand side
GTA’s Life Science Innovation System: Demand Side
  • Regulatory environment/purchasing:
    • Provincial role: Ministry of Health Drug Formulary (listing, pricing)
    • Hospitals (centralized, decentralized)
  • Regulatory environment:
    • US FDA: access to US market is key
  • Big pharma:
    • Contracting out research (to meet R&D obligations)
    • Contract manufacturing
greater toronto lsis i bio pharma firms
Greater Toronto LSIS:I. Bio/Pharma Firms
  • Brand name (global) pharma
    • GSK, Pfizer, Aventis, Roche, Merck, Eli Lilly, Astra-Zeneca, Bayer
  • Generic (local) pharma
    • Apotex, Novopharm, Genpharm, ratiopharm
  • ‘Core’ (local) biotechnology
    • Large
      • Biovail, Cangene, Draxis, Hemosol, GlycoDesign
    • Newer start-ups (mostly small)
      • SynX, Tm Bioscience, MDS Proteomics
ii biomedical technology and devices firms
II. Biomedical Technology and Devices Firms
  • Global manufacturers
    • J&J, Baxter, Medtronics, GE, Agfa
  • Specialized (national) distributors and CMO’s
    • SouthMedic, Canadian Hospital Specialties, MediChair
  • Local manufacturers
    • Initial start in distribution and repair
      • Canadian Endoscope, Baylis Medical, SciCan
    • Manufacturing start-ups
      • Hart Mobility, Variety Ability, Tash Inc., VisuAide, Cedara
    • Biotech-BTD, IT-BTD, Material Sci-BTD interface
      • Pheromone Science, Interface Biologics, Delex Therapeutics, Toxin Alert, VisualSonics, Tm Bioscience
iii other firms in the life sciences value chain
III. Other Firms in the Life Sciences Value Chain
  • CROs: Biovail CR, Patheon, MDS Pharma Sciences
  • Capital goods (‘platform technologies’): MDS Sciex, Visible Genetics
  • Venture capital: MDS Capital, CMDF, RBC Technology Ventures
iv research teaching institutions
IV. Research, Teaching Institutions
  • U of T Faculty of Medicine, CCBR
  • U of T @ Mississauga (M Bio)
  • UHN (PMH, TGH, TWH), HSC, St. Mike’s
  • Ontario Cancer Institute
  • Sunnybrook and Women’s College
  • Mount Sinai – Lunenfeld RI
  • CAMH, Baycrest
  • McMaster, York
  • Other regional hospitals
v regulatory supporting institutions provincial local
V. Regulatory, Supporting Institutions – Provincial, Local
  • Ontario Ministry of EDT
  • BCIP consortia (4)
  • Ontario Bio Council
  • MaRS Discovery District
  • TBI, TRRA
life science vc for selected cmas
Life Science VC for Selected CMAs

Source: Macdonald & Associates Ltd. 2004

vc by sector toronto cma
VC by Sector, Toronto CMA

Source: Macdonald & Associates Ltd. 2004

life science vc invested 1998 2003 selected cmas
Life Science VC Invested 1998-2003, Selected CMAs

Source: Macdonald & Associates Ltd. 2004

dimensions of variety in toronto life science
Dimensions of Variety in Toronto Life Science
  • NIS/RIS: US-European blend
  • Sectors/knowledge pools: biotech, brand name & generic pharma, BTD
  • Geographical: home grown, foreign firms; ‘talent’ pool (Mosaic Index +++)
  • Hybrid strategies (firms):
    • Within sectors (‘extension’)
    • Between sectors (‘convergence’)
toronto future prospects
Toronto: future prospects
  • Rise of the hybrid firm?
    • (NYT: “Is biotech losing its nerve?”)
    • Toronto’s lead firms are hybrids:
      • MDS ($1.8B), Biovail ($1.1B)
  • VCs: learning to love hybrids
    • Now actively orchestrating hybrid firm development
  • Toronto’s life science ‘cluster’
    • Path dependent evolution based on legacy of a diverse regional economy
    • Well positioned for future sustainable growth