Clementia Pharmaceuticals, a Montreal-based biopharmaceutical company successfully completed a USD $120M million IPO on NASDAQ last week, following in the footsteps of Zymeworks, who completed its IPO in June, highlighting the growing momentum of the Canadian biotech sector. “If more Canadian companies emulate Zymeworks and Clementia utilizing public markets to raise large rounds to finance growth, … Read more
BDC Capital, the investment arm of the Business Development Bank of Canada, announced its intention to invest $250 million in Growth Equity over the next five years, a minority equity offering for high potential, rapidly growing businesses. BDC Capital’s new offering aims to fill a gap between small-scale financing options generally available to smaller firms, and the range of sources available to … Read more
Vancouver-based biotech company Zymeworks has raised $85 million in its initial public offering in Canada and in the U.S. “We intend to advance the development of disruptive therapeutic platforms and impactful biotherapeutics, especially in areas of unmet need. By raising funds through our US and Canadian IPOs, we believe we are well-positioned to deliver on our … Read more
A new Business Development Bank of Canada study finds that 39 per cent of Canadian manufacturing businesses have started to implement digital projects. The study also found that, while only 3 per cent of manufacturing SMEs have fully digitized their production, 17 per cent of manufacturing SMEs are preparing to do so. Pierre Cléroux, Chief Economist and … Read more
UNI Business and the Business Development Bank of Canada announce the signing of a partnership agreement that will give entrepreneurs in the Maritimes access to more financing expertise and advisory services. “This agreement is good news for our clients, especially those dealing with intergenerational business transfers. This will be a major challenge for many businesses in … Read more
Canadian entrepreneurs have more confidence in the economy and plan to boost business investment to $96.6 billion in 2017, according to a new study from the Business Development Bank of Canada. Investments are up 1.6 per cent from the totals invested in 2016. Seventy percent of the entrepreneurs surveyed expect increased business revenue in 2017, a … Read more
According to a new study by the Business Development Bank of Canada Canadian small and mid-sized companies are experiencing difficulty scaling, with fewer businesses expanding in size compared to 15 years ago. A tiny fraction of small businesses—0.10% (or one in 1,000)—grew past the 100-employee mark. That represents more than a 40% drop from the 0.18% … Read more
The Business Development Bank of Canada (BDC) launches a new brand identity aimed at making its role and product offering better known to a greater number of entrepreneurs across Canada. The modernized brand image will be supported by a multi-faceted advertising campaign which will appear across Canada beginning this week. Market research conducted at the end of … Read more
The Business Development Bank of Canada announced support for its clients in Alberta whose businesses have been impacted by the wildfires in Fort McMurray. The relief program will include capital and interest payment postponements for existing clients in the affected area. Support measures include an immediate three-month postponement of principal and interest for clients located in … Read more
BDC Capital has invested $6.7 million in Toronto-based Wave, a company that provides online financial tools for small businesses. This money comes from BDC Capital’s new $150 million IT Venture Fund II announced last month. BDC Capital’s investment is part of Wave’s Series C funding round, which has now raised $22.1 million and includes participation from CRV, … Read more
