Since 2019, the Canadian life sciences industry has witnessed substantial growth as a result of national and global investment within the sector, indicating confidence from investors in the value of the biotech industry.

During this time, Canada has seen levels of investment totaling $25.9 billion into more than 175 Canadian companies. Recent examples of Canadian life science investments include: Chinook Therapeutics, Bellus, and Inversago Pharma.

While there has been a global decline in the overall number of deals to date, the Canadian biotech sector has recorded $12 billion in 65 investment deals in 2023.

Investment Landscape

Become a member

Mergers and Acquisitions Activity

*Includes “undisclosed deal amounts” and acquired/re-named companies

Become a member

Venture and Private Equity Activity

Become a member

Canada is creating a competitive environment which is generating ideas and attracting the investors, partners, and talent required to turn ideas into companies and scale them to become Canadian anchor companies.

Globally, the competition for biotech ideas, companies, talent, and investment has never been more intense. It is imperative that Canada remain aggressive and ambitious to establish a globally competitive environment that will:

1. Create, scale, and retain Canadian biotech companies;

2. Attract global commercial biotech companies; and,

3. Grow Canada’s domestic life sciences investment pool;

Sources: BIOTECanada’s detailed data model contains information on deals across the public and private equity markets. PitchBook is used as the primary source for comprehensive data about global capital markets. From the entire life science industry, the focus is on a subgroup of biotech companies which received investments since 2019.

BIOTECanada compiled Canadian investment data by including companies contributing into R&D biotech projects such as AI, machine learning, and data analytics and excluding companies focusing on cannabis, psychedelic, diagnostics, medical devices. Investment deal totals in foreign currencies were converted to Canadian Dollars using Bank of Canada exchange rates. For more information, contact Alex Solomakha, Director, Industry Data Research and Analysis.