B.C.-based SignalChem expands into India
SignalChem Lifesciences Corp, a life sciences company located in Richmond, British Columbia, is making important discoveries in cancer, inflammation and central nervous system disorders, and recently opened a new research facility in India to help convert these early discoveries into drugs for global use.
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“SignalChem has developed a technology platform to discover new drugs by exploiting protein kinases that are known to cause diseases such as cancer, inflammation or central nervous system disorders,” said Dr. Akash Mathur, SignalChem’s chief business officer. “These diseases impact populations worldwide. Opening a research and development facility in India is a key part of our plan to address these diseases. Upon success, our plan will be a breakthrough contribution by a Canadian biotech company.”
Not only will the research facility in Bangalore allow the company to identify potential drug candidates for treatment of serious diseases, it will also increase the value of the company’s therapies and its intellectual property.
“SignalChem Lifesciences’ expansion into India is great news -- for the company, for those working in B.C.’s technology and life sciences sector, and for everyone who will benefit from the treatments this research makes possible,” said Premier Christy Clark, whose October 2014 trade mission to India coincided with official opening of SignalChem’s new Bangalore office. “This is a great example of how international economic opportunities spur job creation at home. Because of this expansion, SignalChem will need more employees at its research facility in B.C.”
SignalChem was founded in 2004 and now has a global workforce of nearly 80 people. An additional 10-20 positions are expected to be added in British Columbia as a result of the India facility opening. British Columbia’s trade and investment teams in Vancouver and India have been working with SignalChem since 2012 to assist the company with its growth plans.
“Our province’s biopharmaceutical sector is one of the fastest-growing in Canada, and the opening of this new research facility demonstrates that,” said Advanced Education Minister Amrik Virk, who attended the facility’s opening ceremony as part of Premier Clark’s India Trade Mission. “I am proud to see B.C. companies like this one making a global impact by making the necessary connections to expand their businesses into new markets.”
Trade missions like Premier Clark’s 2014 visit to India are a critical part of British Columbia’s strategy to diversify its international trading partners and secure new investment, propelling economic activity and job creation throughout the province.