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July 17, 2002
Toronto's biotech community celebrates a spectacular year
Economic Development Culture and Tourism -- The Toronto Biotechnology
Initiative (TBI) handed out scholarships at its summer meeting on July 17 to
six students who excelled in biotechnology over the last academic year.

The students who were awarded scholarships are: Husam Abdel-Qadir, University
of Toronto, St. George Campus; Mandeep Grewal, University of Toronto at
Mississauga; Sharmila Sachi, York University; Kevin Buckle, Seneca College;
Asha Mistry, Ryerson University; and Samantha Dick, the Michener Institute for
Applied Health Sciences.

TBI, a non-profit organization committed to promoting the growth of
biotechnology in Toronto, brings together the worlds of research, government,
business and finance and is one of the largest biotechnology organizations in
North America. The City of Toronto's Economic Development Division has
supported TBI from its inception as part of the division's continuing efforts
to enhance the international competitiveness of the city's bio-medical industry.

The Toronto biotech community has a lot to celebrate. This year, Toronto hosted
the biggest biotech conference in the world. "BIO200" welcomed 15,700
scientists, researchers, exhibitors and industry leaders from more than 50
countries at the Metro Toronto Convention Centre from June 9 to 12. The
conference injected an estimated $30 million into Toronto's economy. Mayor Mel
Lastman, Jim Flaherty, Ontario's Minister of Enterprise, Opportunity and
Innovation, and David Collenette, the federal minister responsible for the
Greater Toronto Area, were on hand for the opening of BIO2002.

In conjunction with BIO2002, the City of Toronto launched the Discovery
District (an area bounded by Bloor, Dundas, Spadina and Bay streets), which
contains the densest concentration of biomedical research facilities in North

BioFinance, another major event for the biotech community, was held in Toronto
in the spring. BioFinance focuses on investment opportunities in the Canadian
biotech scene. A total of 104 biotech companies were given 20 to 30 minute
time slots to expound on the opportunity for investment.

Toronto students were recognized for their efforts in biotechnology through an
event called the 2002 Aventis Biotech Challenge. It brings together creative
and curious young people interested in solving a problem using innovative
applications of biotechnology.

Media Contact
Brenda Librecz,
Managing Director, Economic Development,



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