MONTREAL, Sept. 14, 2016 /CNW Telbec/ - Pharmed Canada, the health industry manufacturing and outsourcing network, and the R&D Capital financing company, are joining forces to create the Pharmed-R&D Capital Fund.
This fund, amounting to several million dollars, is intended to be used by members of the Pharmed network, on preferential terms. It is specifically aimed at firms that are eligible for R&D tax credits, to help them obtain capital quickly and access training on how to seek funding and prepare a business case. It also provides advice on other methods of financing through a network of partners.
"This fund, the Pharmed Finance Forum to be held on November 17, 2016, and the establishment of a financing advice and referrals platform, all represent concrete actions to facilitate access to capital for health industry firms," declared Perry Niro, President of Pharmed Canada.
According to Pierre Binette, President and founder of R&D Capital, the fund just announced is a natural extension of the services already provided. "We are especially pleased about this partnership with Pharmed Canada because it underpins the role we play at a crucial stage of a company's life, i.e. financing innovation. For over 14 years we have been supporting firms and enabling them to benefit from our expertise and our business network."
Besides providing funding to firms that are eligible for tax credits under the Scientific Research and Experimental Development (SR&ED) Program, the fund will also finance health technology projects that are eligible for tax credits relating to e-business development ("TCEB") and the production of multimedia titles.
"Business financing has become more sophisticated in recent years, and that trend is accelerating thanks to new financial technologies (fintech). As a result, entrepreneurs are sometimes overwhelmed by, or simply unaware of, the range of financing tools that are within their grasp. Today's announcement is intended to be a first step towards setting up a platform and a network of financing partners for the life sciences industry," concludes Mr. Niro.
About R&D Capital
R&D Capital is a Canadian financial institution that specializes in financing federal and provincial refundable tax credits.
A leader in its field, R&D Capital has developed innovative financial products to assist Canadian businesses, over the short and medium terms, with their development and growth activities that qualify for refundable tax credits.
About Pharmed Canada
Pharmed Canada is an association of manufacturers and subcontractors in Canada's pharmaceutical and medical services industry. Its mission is to promote the business development of its members, both in Canada and abroad.
About Pharmed Finance
Pharmed Finance is a conference and a portal on life sciences financing. The next conference, to be held on November 17, 2016 at the Plaza Centre-Ville, will bring together over one hundred entrepreneurs and investors, in particular from the United States.
SOURCE Pharmed Canada
For further information: R&D Capital (www.rdcapital.ca): Pierre Binette, President, Tel: 514-798-0493, Or Michel Beauchamp, Vice-President, Business Development, 514-798-0493, ext. 241, [email protected]; Pharmed Canada (www.pharmedcanada.ca) : Perry Niro, President, Tel: 514-265-8944, [email protected]