Tag Archives: François-Philippe Champagne

Quantum Mechanics & Gravity conference (August 15 – 19, 2022) launches Vancouver (Canada)-based Quantum Gravity Institute and more

I received (via email) a July 21, 2022 news release about the launch of a quantum science initiative in Vancouver (BTW, I have more about the Canadian quantum scene later in this post),

World’s top physicists unite to tackle one of Science’s greatest
mysteries


Vancouver-based Quantum Gravity Society leads international quest to
discover Theory of Quantum Gravity

Vancouver, B.C. (July 21, 2022): More than two dozen of the world’s
top physicists, including three Nobel Prize winners, will gather in
Vancouver this August for a Quantum Gravity Conference that will host
the launch a Vancouver-based Quantum Gravity Institute (QGI) and a
new global research collaboration that could significantly advance our
understanding of physics and gravity and profoundly change the world as
we know it.

For roughly 100 years, the world’s understanding of physics has been
based on Albert Einstein’s General Theory of Relativity (GR), which
explored the theory of space, time and gravity, and quantum mechanics
(QM), which focuses on the behaviour of matter and light on the atomic
and subatomic scale. GR has given us a deep understanding of the cosmos,
leading to space travel and technology like atomic clocks, which govern
global GPS systems. QM is responsible for most of the equipment that
runs our world today, including the electronics, lasers, computers, cell
phones, plastics, and other technologies that support modern
transportation, communications, medicine, agriculture, energy systems
and more.

While each theory has led to countless scientific breakthroughs, in many
cases, they are incompatible and seemingly contradictory. Discovering a
unifying connection between these two fundamental theories, the elusive
Theory of Quantum Gravity, could provide the world with a deeper
understanding of time, gravity and matter and how to potentially control
them. It could also lead to new technologies that would affect most
aspects of daily life, including how we communicate, grow food, deliver
health care, transport people and goods, and produce energy.

“Discovering the Theory of Quantum Gravity could lead to the
possibility of time travel, new quantum devices, or even massive new
energy resources that produce clean energy and help us address climate
change,” said Philip Stamp, Professor, Department of Physics and
Astronomy, University of British Columbia, and Visiting Associate in
Theoretical Astrophysics at Caltech [California Institute of Technology]. “The potential long-term ramifications of this discovery are so incredible that life on earth 100
years from now could look as miraculous to us now as today’s
technology would have seemed to people living 100 years ago.”

The new Quantum Gravity Institute and the conference were founded by the
Quantum Gravity Society, which was created in 2022 by a group of
Canadian technology, business and community leaders, and leading
physicists. Among its goals are to advance the science of physics and
facilitate research on the Theory of Quantum Gravity through initiatives
such as the conference and assembling the world’s leading archive of
scientific papers and lectures associated with the attempts to reconcile
these two theories over the past century.

Attending the Quantum Gravity Conference in Vancouver (August 15-19 [2022])
will be two dozen of the world’s top physicists, including Nobel
Laureates Kip Thorne, Jim Peebles and Sir Roger Penrose, as well as
physicists Baron Martin Rees, Markus Aspelmeyer, Viatcheslav Mukhanov
and Paul Steinhardt. On Wednesday, August 17, the conference will be
open to the public, providing them with a once-in-a-lifetime opportunity
to attend keynote addresses from the world’s pre-eminent physicists.
… A noon-hour discussion on the importance of the
research will be delivered by Kip Thorne, the former Feynman Professor
of physics at Caltech. Thorne is well known for his popular books, and
for developing the original idea for the 2014 film “Interstellar.” He
was also crucial to the development of the book “Contact” by Carl Sagan,
which was also made into a motion picture.

“We look forward to welcoming many of the world’s brightest minds to
Vancouver for our first Quantum Gravity Conference,” said Frank
Giustra, CEO Fiore Group and Co-Founder, Quantum Gravity Society. “One
of the goals of our Society will be to establish Vancouver as a
supportive home base for research and facilitate the scientific
collaboration that will be required to unlock this mystery that has
eluded some of the world’s most brilliant physicists for so long.”

“The format is key,” explains Terry Hui, UC Berkley Physics alumnus
and Co-Founder, Quantum Gravity Society [and CEO of Concord Pacific].
“Like the Solvay Conference nearly 100 years ago, the Quantum Gravity
Conference will bring top scientists together in salon-style gatherings. The
relaxed evening format following the conference will reduce barriers and
allow these great minds to freely exchange ideas. I hope this will help accelerate
the solution of this hundred-year bottleneck between theories relatively
soon.”

“As amazing as our journey of scientific discovery has been over the
past century, we still have so much to learn about how the universe
works on a macro, atomic and subatomic level,” added Paul Lee,
Managing Partner, Vanedge Capital, and Co-Founder, Quantum Gravity
Society. “New experiments and observations capable of advancing work
on this scientific challenge are becoming increasingly possible in
today’s physics labs and using new astronomical tools. The Quantum
Gravity Society looks forward to leveraging that growing technical
capacity with joint theory and experimental work that harnesses the
collective expertise of the world’s great physicists.”

About Quantum Gravity Society

Quantum Gravity Society was founded in Vancouver, Canada in 2020 by a
group of Canadian business, technology and community leaders, and
leading international physicists. The Society’s founding members
include Frank Giustra (Fiore Group), Terry Hui (Concord Pacific), Paul
Lee and Moe Kermani (Vanedge Capital) and Markus Frind (Frind Estate
Winery), along with renowned physicists Abhay Ashtekar, Sir Roger
Penrose, Philip Stamp, Bill Unruh and Birgitta Whaley. For more
information, visit Quantum Gravity Society.

About the Quantum Gravity Conference (Vancouver 2022)


The inaugural Quantum Gravity Conference (August 15-19 [2022]) is presented by
Quantum Gravity Society, Fiore Group, Vanedge Capital, Concord Pacific,
The Westin Bayshore, Vancouver and Frind Estate Winery. For conference
information, visit conference.quantumgravityinstitute.ca. To
register to attend the conference, visit Eventbrite.com.

The front page on the Quantum Gravity Society website is identical to the front page for the Quantum Mechanics & Gravity: Marrying Theory & Experiment conference website. It’s probable that will change with time.

This seems to be an in-person event only.

The site for the conference is in an exceptionally pretty location in Coal Harbour and it’s close to Stanley Park (a major tourist attraction),

The Westin Bayshore, Vancouver
1601 Bayshore Drive
Vancouver, BC V6G 2V4
View map

Assuming that most of my readers will be interested in the ‘public’ day, here’s more from the Wednesday, August 17, 2022 registration page on Eventbrite,

Tickets:

  • Corporate Table of 8 all day access – includes VIP Luncheon: $1,100
  • Ticket per person all day access – includes VIP Luncheon: $129
  • Ticket per person all day access (no VIP luncheon): $59
  • Student / Academia Ticket – all day access (no VIP luncheon): $30

Date:

Wednesday, August 17, 2022 @ 9:00 a.m. – 5:15 p.m. (PT)

Schedule:

  • Registration Opens: 8:00 a.m.
  • Morning Program: 9:00 a.m. – 12:30 p.m.
  • VIP Lunch: 12:30 p.m. – 2:30 p.m.
  • Afternoon Program: 2:30 p.m. – 4:20 p.m.
  • Public Discussion / Debate: 4:20 p.m. – 5:15 p.m.

Program:

9:00 a.m. Session 1: Beginning of the Universe

  • Viatcheslav Mukhanov – Theoretical Physicist and Cosmologist, University of Munich
  • Paul Steinhardt – Theoretical Physicist, Princeton University

Session 2: History of the Universe

  • Jim Peebles, 2019 Nobel Laureate, Princeton University
  • Baron Martin Rees – Cosmologist and Astrophysicist, University of Cambridge
  • Sir Roger Penrose, 2020 Nobel Laureate, University of Oxford (via zoom)

12:30 p.m. VIP Lunch Session: Quantum Gravity — Why Should We Care?

  • Kip Thorne – 2017 Nobel Laureate, Executive Producer of blockbuster film “Interstellar”

2:30 p.m. Session 3: What do Experiments Say?

  • Markus Aspelmeyer – Experimental Physicist, Quantum Optics and Optomechanics Leader, University of Vienna
  • Sir Roger Penrose – 2020 Nobel Laureate (via zoom)

Session 4: Time Travel

  • Kip Thorne – 2017 Nobel Laureate, Executive Producer of blockbuster film “Interstellar”

Event Partners

  • Quantum Gravity Society
  • Westin Bayshore
  • Fiore Group
  • Concord Pacific
  • VanEdge Capital
  • Frind Estate Winery

Marketing Partners

  • BC Business Council
  • Greater Vancouver Board of Trade

Please note that Sir Roger Penrose will be present via Zoom but all the others will be there in the room with you.

Given that Kip Thorne won his 2017 Nobel Prize in Physics (with Rainer Weiss and Barry Barish) for work on gravitational waves, it’s surprising there’s no mention of this in the publicity for a conference on quantum gravity. Finding gravitational waves in 2016 was a very big deal (see Josh Fischman’s and Steve Mirsky’s February 11, 2016 interview with Kip Thorne for Scientific American).

Some thoughts on this conference and the Canadian quantum scene

This conference has a fascinating collection of players. Even I recognized some of the names, e.g., Penrose, Rees, Thorne.

The academics were to be expected and every presenter is an academic, often with their own Wikipedia page. Weirdly, there’s no one from the Perimeter Institute Institute for Theoretical Physics or TRIUMF (a national physics laboratory and centre for particle acceleration) or from anywhere else in Canada, which may be due to their academic specialty rather than an attempt to freeze out Canadian physicists. In any event, the conference academics are largely from the US (a lot of them from CalTech and Stanford) and from the UK.

The business people are a bit of a surprise. The BC Business Council and the Greater Vancouver Board of Trade? Frank Giustra who first made his money with gold mines, then with Lionsgate Entertainment, and who continues to make a great deal of money with his equity investment company, Fiore Group? Terry Hui, Chief Executive Office of Concord Pacific, a real estate development company? VanEdge Capital, an early stage venture capital fund? A winery? Missing from this list is D-Wave Systems, Canada’s quantum calling card and local company. While their area of expertise is quantum computing, I’d still expect to see them present as sponsors.

The academics? These people are not cheap dates (flights, speaker’s fees, a room at the Bayshore, meals). This is a very expensive conference and $129 for lunch and a daypass is likely a heavily subsidized ticket.

Another surprise? No government money/sponsorship. I don’t recall seeing another academic conference held in Canada without any government participation.

Canadian quantum scene

A National Quantum Strategy was first announced in the 2021 Canadian federal budget and reannounced in the 2022 federal budget (see my April 19, 2022 posting for a few more budget details).. Or, you may find this National Quantum Strategy Consultations: What We Heard Report more informative. There’s also a webpage for general information about the National Quantum Strategy.

As evidence of action, the Natural Science and Engineering Research Council of Canada (NSERC) announced new grant programmes made possible by the National Quantum Strategy in a March 15, 2022 news release,

Quantum science and innovation are giving rise to promising advances in communications, computing, materials, sensing, health care, navigation and other key areas. The Government of Canada is committed to helping shape the future of quantum technology by supporting Canada’s quantum sector and establishing leadership in this emerging and transformative domain.

Today [March 15, 2022], the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, is announcing an investment of $137.9 million through the Natural Sciences and Engineering Research Council of Canada’s (NSERC) Collaborative Research and Training Experience (CREATE) grants and Alliance grants. These grants are an important next step in advancing the National Quantum Strategy and will reinforce Canada’s research strengths in quantum science while also helping to develop a talent pipeline to support the growth of a strong quantum community.

Quick facts

Budget 2021 committed $360 million to build the foundation for a National Quantum Strategy, enabling the Government of Canada to build on previous investments in the sector to advance the emerging field of quantum technologies. The quantum sector is key to fuelling Canada’s economy, long-term resilience and growth, especially as technologies mature and more sectors harness quantum capabilities.

Development of quantum technologies offers job opportunities in research and science, software and hardware engineering and development, manufacturing, technical support, sales and marketing, business operations and other fields.

The Government of Canada also invested more than $1 billion in quantum research and science from 2009 to 2020—mainly through competitive granting agency programs, including Natural Sciences and Engineering Research Council of Canada programs and the Canada First Research Excellence Fund—to help establish Canada as a global leader in quantum science.

In addition, the government has invested in bringing new quantum technologies to market, including investments through Canada’s regional development agencies, the Strategic Innovation Fund and the National Research Council of Canada’s Industrial Research Assistance Program.

Bank of Canada, cryptocurrency, and quantum computing

My July 25, 2022 posting features a special project, Note: All emphases are mine,

… (from an April 14, 2022 HKA Marketing Communications news release on EurekAlert),

Multiverse Computing, a global leader in quantum computing solutions for the financial industry and beyond with offices in Toronto and Spain, today announced it has completed a proof-of-concept project with the Bank of Canada through which the parties used quantum computing to simulate the adoption of cryptocurrency as a method of payment by non-financial firms.

“We are proud to be a trusted partner of the first G7 central bank to explore modelling of complex networks and cryptocurrencies through the use of quantum computing,” said Sam Mugel, CTO [Chief Technical Officer] at Multiverse Computing. “The results of the simulation are very intriguing and insightful as stakeholders consider further research in the domain. Thanks to the algorithm we developed together with our partners at the Bank of Canada, we have been able to model a complex system reliably and accurately given the current state of quantum computing capabilities.”

Multiverse Computing conducted its innovative work related to applying quantum computing for modelling complex economic interactions in a research project with the Bank of Canada. The project explored quantum computing technology as a way to simulate complex economic behaviour that is otherwise very difficult to simulate using traditional computational techniques.

By implementing this solution using D-Wave’s annealing quantum computer, the simulation was able to tackle financial networks as large as 8-10 players, with up to 2^90 possible network configurations. Note that classical computing approaches cannot solve large networks of practical relevance as a 15-player network requires as many resources as there are atoms in the universe.

Quantum Technologies and the Council of Canadian Academies (CCA)

In a May 26, 2022 blog posting the CCA announced its Expert Panel on Quantum Technologies (they will be issuing a Quantum Technologies report),

The emergence of quantum technologies will impact all sectors of the Canadian economy, presenting significant opportunities but also risks. At the request of the National Research Council of Canada (NRC) and Innovation, Science and Economic Development Canada (ISED), the Council of Canadian Academies (CCA) has formed an Expert Panel to examine the impacts, opportunities, and challenges quantum technologies present for Canadian industry, governments, and Canadians. Raymond Laflamme, O.C., FRSC, Canada Research Chair in Quantum Information and Professor in the Department of Physics and Astronomy at the University of Waterloo, will serve as Chair of the Expert Panel.

“Quantum technologies have the potential to transform computing, sensing, communications, healthcare, navigation and many other areas,” said Dr. Laflamme. “But a close examination of the risks and vulnerabilities of these technologies is critical, and I look forward to undertaking this crucial work with the panel.”

As Chair, Dr. Laflamme will lead a multidisciplinary group with expertise in quantum technologies, economics, innovation, ethics, and legal and regulatory frameworks. The Panel will answer the following question:

In light of current trends affecting the evolution of quantum technologies, what impacts, opportunities and challenges do these present for Canadian industry, governments and Canadians more broadly?

The Expert Panel on Quantum Technologies:

Raymond Laflamme, O.C., FRSC (Chair), Canada Research Chair in Quantum Information; the Mike and Ophelia Lazaridis John von Neumann Chair in Quantum Information; Professor, Department of Physics and Astronomy, University of Waterloo

Sally Daub, Founder and Managing Partner, Pool Global Partners

Shohini Ghose, Professor, Physics and Computer Science, Wilfrid Laurier University; NSERC Chair for Women in Science and Engineering

Paul Gulyas, Senior Innovation Executive, IBM Canada

Mark W. Johnson, Senior Vice-President, Quantum Technologies and Systems Products, D-Wave Systems

Elham Kashefi, Professor of Quantum Computing, School of Informatics, University of Edinburgh; Directeur de recherche au CNRS, LIP6 Sorbonne Université

Mauritz Kop, Fellow and Visiting Scholar, Stanford Law School, Stanford University

Dominic Martin, Professor, Département d’organisation et de ressources humaines, École des sciences de la gestion, Université du Québec à Montréal

Darius Ornston, Associate Professor, Munk School of Global Affairs and Public Policy, University of Toronto

Barry Sanders, FRSC, Director, Institute for Quantum Science and Technology, University of Calgary

Eric Santor, Advisor to the Governor, Bank of Canada

Christian Sarra-Bournet, Quantum Strategy Director and Executive Director, Institut quantique, Université de Sherbrooke

Stephanie Simmons, Associate Professor, Canada Research Chair in Quantum Nanoelectronics, and CIFAR Quantum Information Science Fellow, Department of Physics, Simon Fraser University

Jacqueline Walsh, Instructor; Director, initio Technology & Innovation Law Clinic, Dalhousie University

You’ll note that both the Bank of Canada and D-Wave Systems are represented on this expert panel.

The CCA Quantum Technologies report (in progress) page can be found here.

Does it mean anything?

Since I only skim the top layer of information (disparagingly described as ‘high level’ by the technology types I used to work with), all I can say is there’s a remarkable level of interest from various groups who are self-organizing. (The interest is international as well. I found the International Society for Quantum Gravity [ISQG], which had its first meeting in 2021.)

I don’t know what the purpose is other than it seems the Canadian focus seems to be on money. The board of trade and business council have no interest in primary research and the federal government’s national quantum strategy is part of Innovation, Science and Economic Development (ISED) Canada’s mandate. You’ll notice ‘science’ is sandwiched between ‘innovation’, which is often code for business, and economic development.

The Bank of Canada’s monetary interests are quite obvious.

The Perimeter Institute mentioned earlier was founded by Mike Lazaridis (from his Wikipedia entry) Note: Links have been removed,

… a Canadian businessman [emphasis mine], investor in quantum computing technologies, and founder of BlackBerry, which created and manufactured the BlackBerry wireless handheld device. With an estimated net worth of US$800 million (as of June 2011), Lazaridis was ranked by Forbes as the 17th wealthiest Canadian and 651st in the world.[4]

In 2000, Lazaridis founded and donated more than $170 million to the Perimeter Institute for Theoretical Physics.[11][12] He and his wife Ophelia founded and donated more than $100 million to the Institute for Quantum Computing at the University of Waterloo in 2002.[8]

That Institute for Quantum Computing? There’s an interesting connection. Raymond Laflamme, the chair for the CCA expert panel, was its director for a number of years and he’s closely affiliated with the Perimeter Institute. (I’m not suggesting anything nefarious or dodgy. It’s a small community in Canada and relationships tend to be tightly interlaced.) I’m surprised he’s not part of the quantum mechanics and gravity conference but that could have something to do with scheduling.

One last interesting bit about Laflamme, from his Wikipedia entry, Note: Links have been removed)

As Stephen Hawking’s PhD student, he first became famous for convincing Hawking that time does not reverse in a contracting universe, along with Don Page. Hawking told the story of how this happened in his famous book A Brief History of Time in the chapter The Arrow of Time.[3] Later on Laflamme made a name for himself in quantum computing and quantum information theory, which is what he is famous for today.

Getting back to the Quantum Mechanics & Gravity: Marrying Theory & Experiment, the public day looks pretty interesting and when is the next time you’ll have a chance to hobnob with all those Nobel Laureates?

Who’s running the life science companies’ public relations campaign in British Columbia (Vancouver, Canada)?

I started writing this in the aftermath of the 2021 Canadian federal budget when most of the action (so far) occurred but if you keep going to the end of this post you’ll find updates for Precision Nanosystems and AcCellera and a few extra bits. Also, you may want to check out my August 20, 2021 posting (Getting erased from the mRNA/COVID-19 story) about Ian MacLachlan and some of the ‘rough and tumble’ of the biotechnology scene in BC/Canada. Now, onto my analysis of the life sciences public relations campaign in British Columbia.

Gordon Hoekstra’s May 7, 2021 article (also in print on May 8, 2021) about the British Columbia (mostly in Vancouver) biotechnology scene in the Vancouver Sun is the starting point for this story.

His entry (whether the reporter realizes it or not) into a communications (or public relations) campaign spanning federal, provincial, and municipal jurisdictions is well written and quite informative. While it’s tempting to attribute the whole thing to a single evil genius or mastermind in answer to the question posed in the head, the ‘campaign’ is likely a targeted effort by one or more groups and individuals enhanced with a little luck.

Federal and provincial money for life sciences and technology

The Business Council of British Columbia’s April 22, 2021 Federal & B.C. Budgets 2021 Analysis (PDF), notes this in its Highlights section,

•Another priority reflected in both budgets is boosting innovation and accelerating the growth of technology-producing companies. The federal budget [April 19, 2021] is spending billions more to support the life sciences and bio-manufacturing industry, clean technologies, the development of electric vehicles, the aerospace sector, quantum computing, AI, genomics, and digital technologies, among others.

•B.C.’s budget [April 20, 2021] also provides funding to spur innovation, support the technology sector and grow locally-based companies. In this area the main item is the new InBC Investment Corporation [emphasis mine], first announced last summer. Endowed with $500 million financed via an agency loan, the Corporation will establish a fund to invest in growing and “anchoring” high-growth [emphasis mine] B.C. businesses.

Their in-depth analysis does not provide more detail about the life sciences investments in the 2021 Canadian federal budget or the 2021 BC provincial budget.

My May 4, 2021 posting details many of the Canadian federal investments in life sciences and other technology areas of interest. The 2021 BC budget announcement is so vague, it didn’t merit much more than this mention until now.

InBC Investment Corporation (BC’s contribution)

InBC Investment Corporation was set up on or about April 27, 2021 as three news ‘references’ (brief summaries with a link) suggest: InBC Investment Corp. Act, InBC Announcement, $500-million investment fund paves way for StrongerBC.

While the corporation does not have a specific mandate to fund the biotechnology sector, given the current enthusiasm, it’s easy to believe they might be more inclined to fund them than not, regardless of any expertise they or may not have specifically in that field.

Of most interest to me was InBC’s Board of Directors, which I tracked down to a BC Ministry of Jobs, Economic Recovery and Innovation May 6, 2021 news release,

InBC Investment Corp. now has a full board of directors with backgrounds in finance, economics, impact investing and business to provide strategic guidance and accountability for the new Crown corporation.

InBC will support startups [emphasis mine], help promising companies scale up and work with a “triple bottom line” mandate that considers people, the planet and profits, to position British Columbia as a front-runner in the post-pandemic economy.

Christine Bergeron, president and chief executive officer of Vancity, will serve as the new board chair of InBC Investment Corp. The nine-member board of directors is made up of both public and private sector members who are responsible for oversight of the corporation, including its mission, policies and goals.

The InBC board members were selected through a comprehensive process, guided by the principles of the Crown Agencies and Board Resourcing Office. Candidates with a variety of relevant backgrounds were considered to form a strong board consisting of seven women and two men. The members appointed represent diversity as well as appropriate areas of expertise.

The following people were selected as members on the board of directors:

  • Christine Bergeron, president and CEO, Vancity
  • Kevin Campbell, managing director of investment banking, board of directors, Haywood Securities
  • Ingrid Leong, VP finance for JH Investments and chief investment officer, Houssian Foundation
  • Glen Lougheed, serial tech entrepreneur and angel investor
  • Suzanne Trottier, vice-president of Indigenous trust services, First Nations Bank Trust
  • Carole James, former minister of finance and deputy premier, Government of British Columbia
  • Iglika Ivanova, senior economist, public interest researcher, BC Office of the Canadian Centre for Policy Alternatives
  • Bobbi Plecas, deputy minister, B.C.’s Ministry of Jobs, Economic Recovery and Innovation
  • Heather Wood, deputy minister, B.C.’s Ministry of Finance

Legislation to provide the governance framework for InBC was introduced by the legislative assembly on April 27, 2021.

Board experience at growing a startup?

This group of people doesn’t seem to have a shred of experience with startups. Glen Lougheed’s “serial tech entrepreneur and angel investor” description means nothing to me and the description he provides in his LinkedIn profile doesn’t clear up matters,

I am a product and business development professional with an entrepreneurial attitude and strong technical skills. I have been building companies both mine and others since I was a teenager.

Having looked up the two companies for which he is currently acting as Chief Executive Officer, Lougheed’s interest appears to be focused on the use of ‘big data’ in marketing and communications campaigns.

Perhaps startup experience isn’t necessary since the board has been appointed to do this (from the BC Ministry of Jobs, Economic Recovery and Innovation May 6, 2021 news release; click on the Backgrounder),

Responsibilities of the InBC Investment Corp. board of directors

The board of directors will be responsible for oversight of the management of the affairs of the corporation. This includes:

  • selecting and approving the chief executive officer and chief innovation officer and monitoring performance and accountabilities;
  • reviewing and approving annual corporate financial statements;
  • oversight of policies that relate to InBC’s mandate and holding the executive to account for its accountabilities with respect to InBC’s mandate;
  • oversight of InBC’s operations; and
  • selection and appointment of InBC’s auditor.

Relationships

So, we have two government civil servants, Wood (Deputy Minister of B.C.’s Ministry of Finance) and Plecas (Deputy Minister of B.C.’s Ministry of Jobs, Economic Recovery and Innovation), and James, a BC Minister of Finance, who left the job several months ago. Then we have Lougheed, recently resigned (May 2021) as special advisor on innovation and technology to the BC Minister of Jobs, Economic Recovery and Innovation.

It would seem almost half of this new board is or has been affiliated with the government and, likely, know each other.

I expect there are more relationships to be found but my interest is in the overall picture as it pertains to the biotechnology scene. This board (except possibly for Lougheed) does not seem to have any experience in the biotechnology sector or growing any sort of startup business in any technology field.

Presumably, the new chief executive officer (CEO) and new chief innovation officer (CIO) will have some of the necessary experience. Still, biotechnology isn’t the same as digital technology, an area where the BC technology community is quite strong. (The Canadian federal government’s Digital Technology Supercluster is headquartered in BC.)

I imagine the politics around who gets hired as CEO and as CIO will be quite interesting.

See the ‘Updates and extras’ at the end of this posting for more mention of this ‘secretive’ government corporation.

The BC biotech gorillas

AbCellera was BC’s biggest biotech story in 2020/21 (see my Avo Media, Science Telephone, and a Canadian COVID-19 billionaire scientist post from December 30, 2020 for more. Do check out the subsection titled “Avo Media …” for a look at an unexpectedly interlaced relationship). Note: The AbCellera COVID-19 treatment is not a vaccine or a vaccine delivery system.

It was a bit surprising that Acuitas Therapeutics didn’t get more attention although Hoekstra seems to have addressed that shortcoming in his May 7, 2021 article by using Thomas Madden and Acuitas as the hook for the story,

By early 2020, concern was mounting about a new, deadly coronavirus first detected in Wuhan, China.

The World Health Organization had declared the coronavirus outbreak a global health emergency just days before. There had been more than 400 deaths and more than 20,000 cases, most of those in China.

But the virus was spreading around the world. Deaths had occurred in Hong Kong and the Philippines, and the virus had been detected in the U.S. and Canada.

By early January of 2020, scientists in China had already sequenced the virus’s genome and made it public, allowing scientists to begin the research for a vaccine.

Scientists expected that could take years.

But, as a second case was confirmed in B.C. in early February, Thomas Madden, a world-renowned expert in nanotechnology who heads Vancouver-based biotech company Acuitas Therapeutics, flew to Germany. [emphases mine]

Acuitas was in the business of creating lipid nanoparticles, microscopic biological vehicles that could deliver drugs [emphasis mine] — for example, to specifically target cancers in the body.

Scientists are already beginning to say it’s likely that a booster vaccine will be needed [emphasis mine] next year to deal with the virus variants.

Madden, the head of Acuitas, says it makes absolute sense to use the new biotechnology, for example, the use of messenger RNA vaccines, to prepare and fight future pandemics.

Says Madden [emphasis mine]: “The technology in terms of what it’s able to do is absolutely phenomenal. It’s just taken us 40 years to get here.”

So, Hoekstra reminds us of the international nature and urgency of the crisis, then, introduces Acuitas as a vital and local player in solutions deployed internationally, and, finally, brings us back to Acuitas after providing an overview of the BC biotech scene and the federal and provincial government’s latest moves,

AbCellera Biologics is more of a supporting player, along with a number of other companies, in Hoekstra’s story,

Sandwiched in the middle, you’ll find what I think is the point of the story,

LifeSciences BC and the provincial government’s commitments

From Hoekstra’s May 7, 2021 article,

The importance of the biotech sector in providing protection against pandemics has caught the attention of the federal and B.C. governments. It has also been noticed by the private markets.

In its budget [April 19, 2021] earlier this month [sic], the federal government promised more than $2 billion in the next seven years to support “promising” life sciences and bio-manufacturing firms, research, training, education and vaccine candidates.

Some companies, including Precision NanoSystems, have already got federal funding. The Vancouver company received $18.2 million last year to help develop its self-replicating mRNA vaccine and another $25 million in early 2021 to assist building a $50-million facility to produce the vaccine.

Last fall, Symvivo received $2.8 million from the National Research Council to help develop its oral COVID-19 vaccine.

AbCellera has also received a pledge of $175.6 million to help build an accredited manufacturing facility in Vancouver [emphasis mine] to produce antibody treatments.

AbCellera expects to double its 230-person workforce over the next two years as it expands its Vancouver campus.

When AbCellera became a publicly traded company late last year, it raised more than $500 million and had a recent market capitalization, the value of its stock, of about $8.5 billion.

When the B.C. government delivered its throne speech recently, the contribution of the province’s life sciences sector in the fight against the COVID-19 pandemic was highlighted, with Precision NanoSystems, AbCellera and StarFish Medical getting mentions. “Their work will not only help bring us out of the pandemic, it will position our province for success in the years ahead,” said B.C.’s Lt. Gov. Jane Austen in delivering the throne speech.

When the budget was released the following week [April 20, 2021], B.C. Finance Minister Selina Robinson said a new three-year, $500-million strategic investment fund would help support and scale up tech firms.

Despite their successes, B.C. biotech firms have faced challenges.

SaNOtize had to go to the U.K. to get support for clinical trials and AbCellera has been disappointed that despite Health Canada emergency approval of its COVID-19 treatment, provinces have been reluctant to use Bamlanivimab.

Hansen, AbCellera’s CEO and a former University of B.C. professor with a PhD in applied physics and biotechnology, said he believes that biotech is the most important frontier of technology.

In the past, while great science was launched from B.C.’s universities, not as great a job was done on turning that science into innovation, jobs [emphasis mine] and the capacity to bring new products to market, possibly because of a lack of entrepreneurship and polices to make it more attractive to companies to grow and thrive here and move here, notes Hansen.

Hurlburt [Wendy Hurlburt], the LifeSciences B.C. CEO, says that policies, including tax structure and patenting [emphasis mine], that encourages innovation companies are needed to support the biotech sector.

But, adds Hansen: “Here in Vancouver, I feel like we’re turning the corner. There’s probably never been a time when Vancouver’s biotech sector [emphasis mine] was stronger. And the future looks very good.”

Not only is the province involved but so is the City of Vancouver (more about that in a bit).

It’s not all about the cash

Hoekstra’s May 7, 2021 article helped answer a question I had in the title of another posting, January 22, 2021: Why is Precision Nanosystems Inc. in the local (Vancouver, Canada) newspaper? (See the ‘Updates and extras’ at the end of this posting for more to the answer.)

This campaign has been building for a while. In the “Is it magic or how does the federal budget get developed? subsection of my May 4, 2021 posting on the 2021 Canadian federal budget I speculated a little bit,

I believe most of the priorities are set by power players behind the scenes. We glimpsed some of the dynamics courtesy of the WE Charity scandal 2020/21 and the SNC-Lavalin scandal in 2019.

Access to special meetings and encounters are not likely to be given to any member of the ‘great unwashed’ but we do get to see the briefs that are submitted in anticipation of a new budget. These briefs and meetings with witnesses are available on the Parliament of Canada website (Standing Committee on Finance (FINA) webpage for pre-budget consultations.

AbCellera submitted a brief dated August 7, 2020 (PDF) detailing how they would like to see the Income Tax Act amended. It’s not always about getting cash, although that’s very important. In this brief, the company wants “… improved access to the enhanced Scientific Research & Experimental Development tax credit.”

There are many aspects to these campaigns including the federal Income Tax Act and, in this case, municipal involvement.

Vancouver (city government) and the biotech sector

About five weeks prior to the 2021 Canadian federal budget and BC provincial budget announcements, there was some news from the City of Vancouver (from a March 10, 2021 article by Kenneth Chan for dailyhive.com), Note: Links have been removed,

Major expansion plans are abound for AbCellera over the next few years to the extent that the Vancouver-based biotechnology company is now looking to build a massive purpose-built office and medical laboratory campus in Mount Pleasant (Vancouver neighbourhood).

It would be a redevelopment of the entire city block …

… earlier today, Vancouver City Council unanimously approved a rezoning enquiry allowing city staff to work with the proponent and accept a formal application for review.

This special additional pre-application step is required due to the temporary ban [emphasis mine] on most types of rezonings within the Broadway Plan’s planning area, until the plan is finalized at the end of 2021.

But city staff are willing to make this a rare exception due to the economic opportunity [emphasis mine] presented by the proposal and the healthcare-related aspects.

“The reasons for advancing this quickly are they are rapidly growing and would like to stay in Vancouver, and we would like them to… We’re very glad to have this company in Vancouver and want to provide them with a permanent home, but in order to scale up, the timeframe to produce their therapy [for viruses] is really time sensitive,” Gil Kelley, the chief urban planner of the City of Vancouver, told city council during today’s [March 10, 2021] meeting.

….

Roughly 10 days after the 2021 budgets are announced, there’s this from Kenneth Chan’s April 29,2021 article on dailyhive.com,

Plans for AbCellera Biologics’ major footprint expansion in Vancouver’s Mount Pleasant Industrial Area are moving forward quickly.

Based on the application submitted this week, the Vancouver-based biotechnology company is proposing to redevelop 110 West 4th Avenue …

It will be designated as the rapidly growing company’s global headquarters.

… city staff are providing AbCellera with the highly rare, expedited stream of combining the rezoning and development application processes into one.

By the middle of this decade, AbCellera will have four locations in the area, including its current 21,000 sq ft office at 2215 Yukon Street and a new 44,000 sq ft office nearing completion at 2131 Manitoba Street, just south of its future main hub.

“We’re building state-of-the-art facilities in Vancouver to accelerate the development of new antibody therapies with biotech and pharma partners from around the world,” said Carl Hansen, CEO and president of AbCellera, in a statement.

AbCellera has gained significant international attention over the past year after it co-developed the first authorized COVID-19 antibody therapy for emergency use in high-risk patients in Canada and the United States.

In late 2020, the company closed a successful initial public offering, bringing in $556 million after selling nearly 28 million shares, far exceeding its original goal of raising $250 million. It was the largest-ever IPO [initial public offering] by a Canadian biotech company.

“We see this new site as a creative hub for engineers, software developers, data scientists, biologists and bioinformaticians to collaborate, innovate, and push the frontiers of technology.” [said Veronique Lecault, the COO of AbCellera]

Additionally, AbCellera is also planning to build a clinical-grade, antibody manufacturing facility in Metro Vancouver, funded in part by the $176-million investment it received from the federal government in Spring 2020 [see May 3, 2020 AbCellera news release].

Not cash but AbCellera did get an expedited process for rezoning and I imagine there will be more special treatment as this progresses. (See the ‘Updates and extras’ at the end of this posting for news about the expedited process.)

It’s likely there are other companies in the BC’s life science sector that are eyeing this development with great interest and high hopes for themselves.

What it takes

COVID-19 seems to have galvanized interest and support almost everywhere in the world for life sciences.

I don’t believe that anyone in the life sciences planned for or rejoiced at news of this pandemic. However, the Canadian biotech sector has been working for decades to establish itself as an important economic resource. and, sadly, COVID-19 has been a timely development.

All those years of lobbying, also known as, government relations, marketing, investor relations, public relations and more served as preparation for what looks like a concerted effort and it has paid off in BC at the federal level, provincial level, and municipal level (at least one).

The campaigns continue. Here’s Wendy Hurlburt, president and CEO of LifeSciences BC in a May 14, 2021 Conversations That Matter Vancouver Sun podcast with Stuart McNish. Note: Hurlburt makes an odd comment at about the 7 min. 30 secs. mark regarding insulin and patents.

Her dismay over lost opportunities regarding the insulin patent is right in line with Canada’s current patent mania. See my May 13, 2021 posting, Not a pretty picture: Canada and a patent rights waiver for COVID-19 vaccines. As far as I’m aware, Canada’s stance has not changed. Interestingly, Hoekstra’s article doesn’t mention COVID-19 patent waivers.

By contrast, here’s what Frederick Banting (one of the discoverers) had to say about his patent, (from the Banting House Insulin Patents webpage),

About the sale of the patent of insulin for $1 Banting reportedly said, “Insulin belongs to the world, not to me.”

… On January 23rd, 1923 Banting, [Charles] Best, and [James] Collip were awarded the American patents for insulin which they sold to the University of Toronto for $1.00 each.

Hurlburt goes on to express dismay over taxes and notes that some companies may leave for other jurisdictions, which means we will lose ‘innovation’. This is a very common ploy coming from any of the technology sectors and can be dated back at least 30 years.

Unmentioned is the dream/business model that so many Canadian tech entrepreneurs have: grow the company, sell it for a lot of money, and retire, preferably before the age of 40.

Getting back to my point, the current situation is not attributable to one individual or to one company’s efforts or to one life science nonprofit or to one federal Network Centre for Excellence (NanoMedicines Innovation Network [NMIN] located at the University of British Columbia).

Note: I have more about the NMIN and Acuitas Therapeutics in a November 12, 2021 posting and there’s more about NMIN’s 7th annual conference and a very high profile guest in a September 11, 2020 posting.

Strategy at the federal, provincial, and local governments, with an eye to the international scene, has been augmented by luck and opportunism.

Updates and extras

Where updates are concerned I have one for Precision Nanosystems and one for AbCellera. I have extras with regard to Moderna and Canada and, BC’s special fund, inBC Investment Corporation. For anyone who’s curious about Banting and the high cost of insulin, I have a couple of links to further reading.

Precision Nanosystems

From an August 11, 2021 article by Kenneth Chan (Note: Links have been removed),

A homegrown pharmaceutical company has announced plans to significantly scale its operations with the opening of a new production facility in Vancouver’s False Creek Flats.

The new Evolution Block building will contain PNI’s new global headquarters and a new genetic medicine Good Manufacturing Practice (GMP) biomanufacturing centre, which would allow the company to expand its capabilities to include the clinical manufacturing of RNA vaccines and therapeutics.

Federal funding totalling $25.1 million for PNI was first announced in February 2021 towards covering part of the development costs of such a facility, as part of the federal government’s new strategy to better ensure Canada has the domestic capacity to secure its own COVID-19 vaccines and prepare the country for future pandemics. It is estimated the vaccine production capacity of the new facility will be 240 million doses annually.

PNI’s location in the False Creek Flats is strategic, given the close proximity to the new St. Paul’s Hospital campus and the growing concentration of tech and healthcare-based industrial businesses.

AbCellera

From a June 22, 2021 article by Kenneth Chan (Note: Links have been removed),

The rapidly growing Vancouver-based biotechnology company announced this morning their 130,000 sq ft Good Manufacturing Practices (GMP) facility will be located on a two-acre site at the 900 block of Evans Avenue, replacing the Urban Beach volleyball courts just next to the City of Vancouver’s Evans maintenance centre and the Regional Recycling Vancouver Bottle Depot.

GMP is partially funded by the $175 million in federal funding received by the company last year to support research into coronavirus treatment.

GMP adds to AbCellera’s major plans to build a new headquarters in close proximity at 110-150 West 4th Avenue in the Mount Pleasant Industrial Area — a city block-sized campus with a total of 380,000 sq ft of laboratory and office space for research and corporate uses.

Both campus buildings are being reviewed under the City of Vancouver’s rare streamlined, expedited process [emphasis mine] of combining the rezoning and development permit applications. AbCellera formally announced its campus plans in April 2021.

AbCellera gained significant international attention last year when it developed the world’s first monoclonal antibody therapy for COVID-19 to be authorized for emergency use in high-risk patients in Canada and the United States. According to the company, over 400,000 doses of its bamlanivimab drug have been administered around the world, and it is estimated to have kept more than 22,000 people out of hospital — saving at least 11,000 lives.

In late 2020, the company closed a successful initial public offering, bringing in $556 million after selling nearly 28 million shares, far exceeding its original goal of raising $250 million. It was the largest-ever IPO by a Canadian biotech company.

Moderna and Canada

It seems like yesterday that Derek Rossi (co-founder of Moderna) was talking about Canada’s need for a biotechnology hub. (see this June 17, 2021 article by Barbara Shecter for the Financial Post). Interestingly, there’s been an announcement of a memorandum of understanding (these things are announced all the time and don’t necessarily result in anything) between Moderna and the government of Canada according to an August 10, 2021 item on the Canadian Broadcasting Corporation (CBC) news website,

Massachusetts-based drug maker Moderna will build an mRNA vaccine manufacturing plant in Canada within the next two years, CEO Stephane Bancel said Tuesday [August 10, 2021; Note the timing, the writ for the next federal election was dropped on August 15, 2021].

The company has signed a memorandum of understanding with the federal government that will result in Canada becoming the home of Moderna’s first foreign operation. It’s not clear yet how much money Canada has offered to Moderna [emphasis mine] for the project.

Canada, whose life sciences industry has been decimated over the last three decades, wants in on the action. Prime Minister Justin Trudeau has promised to rebuild the industry, and the recent budget included a $2.2 billion, seven-year investment to grow the life science and biotech sectors.

Almost half of that targets companies that want to expand or set up vaccine and drug production in Canada. None of the COVID-19 vaccines to date have been made in Canada, leaving the country entirely reliant on imports to fill vaccine orders. As a result, Canada was slower out of the gate on immunizations than some of its counterparts with domestic production, and likely had to pay more per dose for some vaccines as well.

The location of the new facility hasn’t been finalized, but Bancel said the availability of an educated workforce will be the main deciding factor. He said the design is done and they’ll need to start hiring very soon so training can begin.

it’s not exactly a hub but who knows what the future will bring? I imagine there’s going to be some serious wrangling behind the scenes as the provinces battle to be the location for the facility. Note that Innovation Minister François-Philippe Champagne who made the announcement with Bancel in Montréal represents a federal riding in Québec. (BTW, Bancel is from France and seems to have spent much of his adult life in the US.) Of course anything can happen and I’m sure the BC contingent will make themselves felt but it would seem that Quebec is the front runner for now, assuming this memorandum of understanding leads to a facility. Given that we are in the midst of a federal election, it seems more probable than it might otherwise.

inBC Investment Corporation

Bob Mackin’s August 13, 2021 article for theBreaker.news sheds some light on how that corporation was formed so very quickly and more,

The B.C. NDP government rejigged the B.C. Immigrant Investor Fund last year, but refused to release the business case when it was rebranded as inBC Investment Corp. in late April [2021].

theBreaker.news requested the business case for the $500 million fund, which is overseen by a board of NDP patronage appointees, on May 6 [2021].

The 123-page document below is heavily censored — meaning the NDP cabinet is refusing to tell British Columbians the projected operating costs (including board expenses, salary and benefits, office space, operating and administration), full-time equivalents, and cash flows for the newest Crown corporation. inBC bills itself as a triple-bottom line organization, meaning it intends to invest on the basis of social, environmental and economic values.

When its enabling legislation was tabled, the NDP took steps to exempt inBC from the freedom of information law.

Thank you, Mr. Mackin.

More on Banting, insulin and patents

Caitlyn McClure’s 2016 article (Insulin’s Inventor Sold the Patent for $1. Then Drug Companies Got Hold of It.) for other98.com is a brief and pithy explanation for why insulin costs so much. Alanna Mitchell’s August 13, 2019 article for Maclean’s magazine investigates ‘insulin tourism’ and offers more detail as to how this situation has come about.

One last reminder, my August 20, 2021 posting (Getting erased from the mRNA/COVID-19 story) about Ian MacLachlan provides insight into how competitive and rough the bitotechnology scene can be here in BC/Canada.