More from Montreal

Galileo Genomics Inc., a leading Metro Montréal-based population genetics company, announced that it has recently closed two financings totaling $7.7 million. The private placement of equity financing was funded by venture capital investors, including HBM Bioventures (Zurich), Investissement Desjardins (Montréal), BTF (Amsterdam), MVI (London) and BioFund (Helsinki). Galileo also closed a capital equipment-based financing with MM Venture Partners worth up to $2 million US.

Montreal is working hard to expand its reputation as a leading life science research and business center. What does its resume say?

- 300 private companies that employ 18,700 people.
- 6,000 jobs in public and parapublic research facilities.
- 76 research centres (24 teaching hospitals and 52 public research centres).
- 2 world-class universities: McGill University and University of Montréal.
- $3.4 billion in manufacturing deliveries in 2001 for pharmaceutical products and drugs: nearly 50% of all Canadian activity in the sector.
- Ranked eighth in North America for biopharmaceutical jobs.
- Legislation that protects drug patents.
- Administrative rule for medical formulary listings (15-year rule), which favours Québec.
- Innovative tax measures: R&D tax credits and tax breaks for foreign experts and researchers.
- Top-ranked in North America for competitiveness in terms of company operating costs.

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