Federal government funds biopharm company with half million dollar investment

Saguenay, QC – March 9, 2004 – Biopharmaceutical firm FPL Pharma is receiving $504,310 in repayable financial assistance from the federal government. The assistance was announced last week by Lucienne Robillard, Minister of Industry and Minister responsible for Canada Economic Development.

The enterprise specializes in the identification, development and commercialization of plant-derived bioactives in oncology. FPL Pharma recently discovered a molecule in balsam fir which enhances the effectiveness of therapeutic agents used in cancer treatment, while reducing adverse effects. The financial assistance will therefore help the firm conduct pre-clinical and clinical trials and pursue the process of obtaining recognition as to intellectual property.

“I am pleased to see that Quebec is carving out an increasingly important position in this area of activity on the world scene,” stated Minister Robillard. “Indeed, the Biotechnology Research Institute (BRI) of Canada’s National Research Council (NRC) has played a decisive role in the establishment of a major biotechnology cluster in Quebec.”