Thank you, Madam Chair.
I’ll begin by acknowledging that I am speaking on the traditional territory of the Squamish Nation, right here in Squamish, British Columbia.
As chairman of Vancouver-based Precision NanoSystems, I welcome the opportunity to update the honourable members on the contributions Precision and the broader domestic biotech industry have made to keep Canadians safe during the pandemic.
We're proud that our work is unlocking the potential of Canadian science and innovation. The domestic biotech and life sciences sectors are leading the development of some of the world’s most innovative treatments for rare disease, infectious disease and cancer. This life-saving work is being done by the world-leading talent we have here in Canada.
Canadian biotech and life sciences companies will play a vital role in rebuilding the economy post-COVID-19 by creating IP-intensive, knowledge-based jobs and attracting the brightest talents from around the world. Our industry allows Canadian students and young aspiring scientists to realize their potential here in Canada.
Canadian innovators are very strong. Many of the innovations that are now allowing us to prevent and treat COVID-19 come from Canadian companies. As we enter this critical period of economic recovery, we must support the homegrown Canadian firms to scale and develop the technologies and solutions to solve current and future health challenges.
Investing in domestic biomanufacturing capacity is certainly part of the solution. This is an area in which the government and industry can work together to support domestic firms in developing their technologies for the benefit of all Canadians and, frankly speaking, for the entire world.
We are pleased to see the government begin to chart the long-term vision of domestic biomanufacturing in partnership with the private sector. By making these investments, we will create high-value, sustainable economic activity and build the capabilities and competences to be prepared for the future.
The question is not whether another pandemic will descend on the world. The question is when it is going to happen, and we need to be prepared for it. We need to be strategic in our planning, because the decisions we make today will save lives in the future.
My colleague James Taylor will further expand on this. I thank all the honourable members for the opportunity to address you today.