JAMP Pharma, a generic pharmaceutical company, has signed a partnership agreement with Quebec development capital organisation Fonds de solidarité FTQ, which includes a major investment representing a minority stake of 31 per cent.
By increasing JAMP Pharma's financial capabilities, the investment by the Fonds de solidarité FTQ will make it possible to significantly increase new product development and, as a result, the company's ability to supply its customers.
JAMP Pharma also intends to accelerate its growth across Canada by focusing on the development of complex generic products, in addition to expanding into select international markets.
The announcement comes at a time when the company, which just moved into a state-of-the-art facility in Boucherville, has doubled its size to support its anticipated growth.
"JAMP Pharma is a Canadian company that is already experiencing phenomenal growth. We consider it to be a partner of choice for Quebec's economic development as well as for developing our involvement in Canada's generic drug industry. This investment demonstrates our desire and capability to support entrepreneurial initiatives, as well as our pivotal role in the life sciences sector," says Alain Denis, senior vice-president – New Economy, Fonds de solidarité FTQ.
"Our partnership with the Fonds benefits us since we can now increase our presence in Canada, as well as setting our sights on new international markets, while giving our senior management the leeway it needs to do so," adds Louis Pilon, JAMP Pharma's president and CEO.
