Louis Lacasse admits that at a time when many biotech companies in the province are struggling because of a lack of funding, it may seem counterintuitive to start a bunch of new initiatives.
But that's exactly what he hopes to do.
Lacasse will manage a new seed fund that was announced by the Charest government yesterday. The $41.25-million fund, called AmorChem, is made up of contributions from Investissement Quebec, FIER Partenaires (a Quebec government-sponsored fund) and the QFL's solidarity fund as well as $8.25 million from the private sector, of which $6.8 million has come from pharmaceutical giant Merck. The goal of the fund isn't to subsidize new companies, but rather to invest in scientific research, and then to reap the benefits when that research is sold off.
To read the full, original article click on this link: Quebec launches bio-tech fund
Author: JASON MAGDER
