Biotech firm garners FedNor support.

• Author: Scarcello, Frank
• Position: Genesis Genomics

FedNor has announced funding of $1.4 million to assist a cutting-edge biotechnology company in Thunder Bay and provide funds for the development of a new industrial park on local First Nations land.

In late September, Andy Mitchell, secretary of state for Rural Development (FedNor) presented a cheque for $875,000 to Genesis Genomics of Thunder Bay. The local biotechnology company, one of only two in North America, is developing DNA-based detection tools for the early detection of cancer.

"The development of this technology has the potential to revolutionize the battle against cancer on a global scale," says Mitchell. "Creating a biotechnology enterprise in Northern Ontario is important to the region and complements the establishment of Thunder Bay as a regional health sciences centre."

The company has also received funding of $133,000 from the National Research Council's Industrial Research Assistance Program, says Robert Thayer, chief executive officer and vice-president of business development for Genesis Genomics.

Thayer says the financial support from the federal government is a very significant milestone for his company. He also praised the efforts of people in the community to work together.

"Things like Genesis Genomics can happen here in Thunder Bay," he said, added that he hopes the existence and progress of his company will eliminate the notion that Thunder Bay is not a place for a biotechnology company.

Mitchell says the company, along with the new Thunder Bay Regional Hospital, set to open next year, and the establishment of the northern medical school in the future "will create the synergy needed to advance an emerging bio-tech cluster in northwestern Ontario."

Fort William First Nation also received a cheque in the amount of $515,932. Of the total, $450,000 will be used for an environmental cleanup on land previously owned by Canadian...