Toward a new era of LifeSci innovation

Mark Smithyes describes a promising future for the life sciences industry in Ontario (365 words, 2.5 min)

ORIGINALLY POSTED ON: NPC Healthbiz Weekly
WRITTEN BY: Katherine Brenders and Cristela Tello Ruiz

“We’re entering a golden age in life sciences in Ontario,” said Mark Smithyes, President of Janus Life Sciences Consulting and Chair of the Board of Life Sciences Ontario.

Speaking on the latest episode in Season Eight of the NPC Podcast, Smithyes (photo below) laid out an extremely positive vision for the future of the domestic life sciences industry.

“In the next 12 to 24 months,” he predicted, “we’re going to see significant progress in the life sciences sector. There’s such a strong ecosystem, and the pieces are coming together.”

Smithyes said the provincial government is starting to recognize the impact of the LifeSci sector on not only the economy but also the well-being of all Ontarians, “in no small part due to Covid.” The direct result has been advancement in areas of policy that industry stakeholders have sought for years.

“We’ve seen from the current provincial government a commitment to build a life sciences strategy, something we’ve been asking for for a decade,” Smithyes said. “Not one built by the government, but with government, academia, and industry together.”

Other economic players are also recognizing the crucial role LifeSci plays, Smithyes said. “There’s a lot of investment going into lab space in Ontario,” he said. “Financing is there, and what they’re building is going to be amazing.”

“Opportunities [for investment] and innovation here in Ontario and more broadly in Canada is opening up,” Smithyes said, emphasizing that innovation and developing tech are “absolutely central” to the industry’s growth.

Smithyes’ role as a consultant, which often involves helping nascent life sciences companies find venture capital and angel funding and build their businesses, has afforded him a unique perspective of the latest advancements.

“I am dealing with the cutting-edge of technology and innovation,” Smithyes said, “and what I see is all the ingredients for an incredible life sciences community that rivals Boston and San Francisco.”

“It’s going to make our lives easier. It’s going to make clinical trials faster. It’s going to make the whole innovation process more efficient,” he said.

Innovation and leadership in the life sciences will be “the solution to the world’s problems, [such as] food insecurity [and] healthcare,” Smithyes believes. “I’m embracing it.”