Information sheet – 2016-2017 Québec budget: what are the impacts on the life sciences industry?

20/03/17 ' icon

On March 17, 2017, the Québec government tabled its 2016-2017 budget. It includes a number of initiatives that will have a direct impact on the life sciences and health technologies (LSHT) sector:

- Contribution of $5.3 million for the Early Stage Clinical Trial Initiative
- $100 million to promote the commercialization of Québec-based discoveries in life sciences
- Support to implement AmorChem II, the life sciences venture capital fund specialized in seed-stage biotechnology investing, with $20 million in funding
- Recapitalization investment of $96 million in the Teralys Capital fund
The Québec government has a $16-million interest in this fund and the federal government has an interest in the equivalent amount
- Acceleration of the evaluation of new drugs by INESSS
- Support of $3 million over five years in the Montreal Clinical Research Institute (IRCM) through the funding of two initiatives by the IRCM

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