Local companies return from BIO 2001 optimistic

BIO 2001 participants from Newfoundland and Labrador recently returned from San Diego confident in this province�s opportunities and direction for biotechnology. It was a successful week at the international conference and exhibition hosted by the Biotechnology Industry Organization.

MHA George Sweeney, parliamentary secretary to the Minister of Industry Trade and Rural Development on Information and Advanced Technologies, was part of the Newfoundland and Labrador delegation.

"I was very excited to be part of the provincial delegation and I am enthusiastic about the future of this growing sector," said Mr. Sweeney. "The biotechnology industry is quickly developing in Newfoundland and Labrador and there is a lot of talent and innovative thinking here. The potential is enormous � especially in the marine and genetics fields."

The provincial delegation consisted of 24 people which included representatives from the federal and provincial governments, Memorial University, Bio-East Industry Network/Genesis Group Inc. and six companies: NovaLipids Inc., Aqua Bounty Canada Inc., A/F Protein Limited, NewLab Clinical Research, Newfound Geonomics and Applied Preservation Technologies.

Dave King, president and CEO of Genesis Group Inc., promoted Newfoundland and Labrador�s marine biotechnology expertise at the event. "We have the potential to be a world leader in marine biotechnology � we just have to get the word out."

Another participant, Debbie Reynolds, vice president of NewLab Clinical Research, believes in the potential of companies like hers in the biotechnology sector. Her company also used BIO 2001 as an opportunity to spread the word and seek partnerships that would later translate into substantive business prospects.

"We found BIO 2001 to be a highly productive from a commercial standpoint," she said. "We already have a number of tentative deals, both international and national."

The number of registrants at BIO 2001 surpassed 14,000. This included 5,000 international participants, representing 44 countries.

In March, government released its final report on the Renewal Strategy for Jobs and Growth. The final report revealed five major themes including capturing strategic growth opportunities such as the strengths and capabilities emerging in knowledge-based industries.

Media contact: Josephine Cheeseman, Director of Communications, (709) 729-4570.

2001 07 06                                                  11:30 a.m.