Four Burnaby innovative companies in the life sciences, clean technology and digital technology sectors are receiving more than $11 million from Ottawa its PacifiCan program.
Harjit Sajjan, federal minister of international development and minster responsible for the Pacific Economic Development Agency of Canada, made the announcement while touring Kardium Inc.'s Burnaby headquarters this morning (May 31).
Kardium Inc. will receive $5 million in support.
The company will use the funding to increase manufacturing capacity at its Burnaby facility to support worldwide sales of its Globe System, a device for the treatment of fibrillation.
Kardium’s devices are about one-metre long and feature a handle at one end to control them and a catheter with an array of electrodes at the other end.
The catheter is inserted into the femoral vein via a needle in the patient’s groin area, and the device’s electrodes travel up to the heart. The electrodes map the heart’s activity and then burn tissue inside to create scarring, stopping the bad electric signals and returning the heart to its normal rhythm.
Current systems feature one electrode whereas Kardium’s has 122 electrodes, which can reduce the process to about one hour from four — or 75 per cent faster.
"We have spent 15 years developing manufacturing, testing and using the globe system to successfully treat patients," Kardium Inc. CEO Kevin Chaplin said during the announcement.
"And it has been a long road to get to where we are today, where we are now on the cusp of getting our next generation g4 device approved in Canada, the US and Europe as we start our pivotal clinical study.
"As we prepare for approval, and significant commercial growth, we plan to use this BSP funding to build new clean rooms and production facilities and purchase new equipment that will allow us to significantly increase our production facility production capability right here in Burnaby."
More money, more jobs
The government estimates the funding will help the company add another 350 jobs.
HTEC designs, builds and operates hydrogen fuel supply solutions to support the deployment of hydrogen fuel cell electric vehicles.
The company has 17 stations at different stages of operations, development and planning in B.C., Quebec, Alberta and California.
Minister Sajjan announced the company would also be provided with $5 million. The company says it plans to build a green hydrogen production facility in Burnaby which will be able to produce 1,000 kg of hydrogen per day, which will help support current fueling stations and add additional ones.
"Having designed and built the first hydrogen fueling station network in B.C., HTEC is continuously working on innovative solutions to get us closer to the net-zero goal by 2050," HTEC president and CEO Colin Armstrong said.
"And advancing low-carbon hydrogen projects will allow us to significantly reduce our emissions and air quality.
"Specifically, this green-hydrogen production facility will enable the deployment of more than 2,000 hydrogen-electric cars in B.C.and will lead to more than 70.000 tonnes of CO2 emissions reduction over a 10-year period."
Kolbalt Security Inc. will be receiving $530,000 in continuing to provide cyber security programs to small and medium-sized enterprises.
The funding will be used to engage in an expansion of its services into the United States and other English-speaking countries. It's expected the expansion would create 60 new jobs.
"Kobalt is excited to be partnering with PacifiCan to further accelerate our growth in the U.S. and overseas markets," CEO and co-founder Michael Argast said.
"Closer to home, Canadian clients working with Kilbalt benefit from improved cybersecurity, which enables them to focus on their core business and accelerate growth and hiring."
The remaining $650,000 is being provided to Symvivo Corporation, a clinical-stage biotechnology company that has developed a bacterial gene delivery platform that uses engineered live bacteria to deliver genetic material into disease sites.
With its funding, the company is set to buy and install new equipment, acquire lab materials and hire more staff to expand in-house bio-manufacturing capacity at its Burnaby facility.
The creation of 20 new jobs will come from the monies as well as boosting revenue.
"The BSP program adds the manufacturing capabilities and essential scale required for Symvivo to expand our partnerships and continue the development of our innovative medicines," CEO Alexander Graves said.
"We are greatly appreciative of the support."
- with files from Tyler Orton, Business In Vancouver
