Another bioscience firm is expanding to Prince Edward Island thanks to funding from the provincial and federal governments.
Ceapro Inc. will receive a total of $150,000 from the P.E.I. government and the Atlantic Canada Opportunities Agency (ACOA) to support its work in developing natural health products.
The Alberta-based company specializes in isolating and purifying natural extracts from plant materials such as lupins and oats. Ceapro currently produces liquids made of the natural healing extracts in these plants and sells them to cosmetic companies. They are used in such things as hair products and facial creams to promote healing and anti-aging.
But the company wants to further explore the healing capabilities of these products. It has set up a laboratory in the National Research Council (NRC) building on the UPEI campus in Charlottetown to do this exploratory work.
"What we will be doing in partnership with NRC is taking some of our existing products and running them through a series of quite sophisticated bioassays to determine the therapeutic benefits they may have," said Ceapro's chief scientific officer David Fielder.
"There may be some things that we don't even know about and we may find through some of these assays through some of our partnerships here at NRC that we may find some very interesting therapeutic activity that we've never known before."
Gary Goodyear, federal minister of State for Science and Technology, was on P.E.I. Monday to announce the company's expansion to P.E.I.
He said he believes Ceapro's move to the Island could lead to more jobs and spinoffs for the agriculture industry.
"It's projects and initiatives like these that help create more good jobs for Canadians locally on P.E.I. and present opportunities for businesses and researchers to work together and develop even more products across the nation."
The P.E.I. government is contributing the lion's share of the funding for Ceapro's expansion to P.E.I. Agriculture Minister George Webster, who attended Monday's announcement on behalf of Innovation Minister Allan Campbell, said the province wants to encourage bioscience companies like Ceapro to set up shop on the Island as part of the government's prosperity strategy - the province's major innovation and economic strategy.
"We are making strides toward a more robust economy by augmenting our traditional industries such as fisheries and agriculture by new growth sectors including bioscience, information technology, aerospace and renewable energy," Webster said.
"The Island Prosperity Strategy outlines goals for the bioscience sector and one of these goals is to become recognized as a national centre of excellence for natural product development. Through this collaborative effort with Ceapro, the NRC and ACOA we are moving toward that goal."
Federal funding of $50,000 is being provided to Ceapro Inc. through ACOA's business development program. The province of P.E.I. is contributing $100,000 through the Department of Innovation and Advanced Learning.
Alberta-based bioscience firm expanding to P.E.I.
David Fielder, centre, of Ceapro, and Gary Goodyear, federal minister of State for Science and Technology, discuss sample products with research technician Andrew Breeze after an announcement of Ceapros expansion manufacturing natural health products in A
- Published on June 22, 2010
- Published on July 8, 2010
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Teresa Wright
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- Senior Citizen bee around
- - July 8, 2010 at 18:53:53
Here we go again. another handicapped firm limping into town and seeking taxpayers money. Worst yet...our government will give it to them and place us further in debt. Another pipe dream and a chance for the party boys to make some money.
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- fromtheeast
- - July 8, 2010 at 18:50:26
I wouldn't be too critical about a company willing to come to your province. Not many are.....they will probably leave when they realize it isn't economically viable to be there. Whether they are from AB or not it is irrevelant. Unfortantely, it is gov't money that attracts them to the island. The irony of it all is that AB pays huge equalization fees to the federal gov't who send money to PEI (you have no accountability, just an attitude that your island deserves it) and some of this money is used to attract an AB company. What more do you want....more handouts!
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- Senior Citizen bee around
- - July 8, 2010 at 15:52:41
Here we go again. another handicapped firm limping into town and seeking taxpayers money. Worst yet...our government will give it to them and place us further in debt. Another pipe dream and a chance for the party boys to make some money.
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- fromtheeast
- - July 8, 2010 at 15:52:40
I wouldn't be too critical about a company willing to come to your province. Not many are.....they will probably leave when they realize it isn't economically viable to be there. Whether they are from AB or not it is irrevelant. Unfortantely, it is gov't money that attracts them to the island. The irony of it all is that AB pays huge equalization fees to the federal gov't who send money to PEI (you have no accountability, just an attitude that your island deserves it) and some of this money is used to attract an AB company. What more do you want....more handouts!
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- Senior Citizen bee around
- - July 8, 2010 at 15:50:58
Here we go again. another handicapped firm limping into town and seeking taxpayers money. Worst yet...our government will give it to them and place us further in debt. Another pipe dream and a chance for the party boys to make some money.
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- fromtheeast
- - July 8, 2010 at 15:50:57
I wouldn't be too critical about a company willing to come to your province. Not many are.....they will probably leave when they realize it isn't economically viable to be there. Whether they are from AB or not it is irrevelant. Unfortantely, it is gov't money that attracts them to the island. The irony of it all is that AB pays huge equalization fees to the federal gov't who send money to PEI (you have no accountability, just an attitude that your island deserves it) and some of this money is used to attract an AB company. What more do you want....more handouts!
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- Senior Citizen bee around
- - July 8, 2010 at 15:47:41
Here we go again. another handicapped firm limping into town and seeking taxpayers money. Worst yet...our government will give it to them and place us further in debt. Another pipe dream and a chance for the party boys to make some money.
-
- fromtheeast
- - July 8, 2010 at 15:47:27
I wouldn't be too critical about a company willing to come to your province. Not many are.....they will probably leave when they realize it isn't economically viable to be there. Whether they are from AB or not it is irrevelant. Unfortantely, it is gov't money that attracts them to the island. The irony of it all is that AB pays huge equalization fees to the federal gov't who send money to PEI (you have no accountability, just an attitude that your island deserves it) and some of this money is used to attract an AB company. What more do you want....more handouts!
-
- Senior Citizen bee around
- - July 8, 2010 at 15:46:25
Here we go again. another handicapped firm limping into town and seeking taxpayers money. Worst yet...our government will give it to them and place us further in debt. Another pipe dream and a chance for the party boys to make some money.
-
- fromtheeast
- - July 8, 2010 at 15:46:24
I wouldn't be too critical about a company willing to come to your province. Not many are.....they will probably leave when they realize it isn't economically viable to be there. Whether they are from AB or not it is irrevelant. Unfortantely, it is gov't money that attracts them to the island. The irony of it all is that AB pays huge equalization fees to the federal gov't who send money to PEI (you have no accountability, just an attitude that your island deserves it) and some of this money is used to attract an AB company. What more do you want....more handouts!
-
- Senior Citizen bee around
- - July 8, 2010 at 15:45:02
Here we go again. another handicapped firm limping into town and seeking taxpayers money. Worst yet...our government will give it to them and place us further in debt. Another pipe dream and a chance for the party boys to make some money.
-
- fromtheeast
- - July 8, 2010 at 15:45:01
I wouldn't be too critical about a company willing to come to your province. Not many are.....they will probably leave when they realize it isn't economically viable to be there. Whether they are from AB or not it is irrevelant. Unfortantely, it is gov't money that attracts them to the island. The irony of it all is that AB pays huge equalization fees to the federal gov't who send money to PEI (you have no accountability, just an attitude that your island deserves it) and some of this money is used to attract an AB company. What more do you want....more handouts!
