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Monday, January 31, 2005

LAVAL, QUEBEC--(CCNMatthews - Jan. 31, 2005) -

Support to help Laval SMEs enhance their competitiveness

The Honourable Jacques Saada, Minister of Canada Economic Development and Minister responsible for the Francophonie, today announced that Canada Economic Development has awarded CIRION BioPharma Research Inc. two repayable contributions totalling $608,500 for the implementation of projects that are expected to create 25 new jobs.

The Laval-based enterprise will receive a first contribution of $508,500 to help to enhance its productivity and implement an E-business strategy. The firm will receive a second contribution of $100,000 to implement an export development strategy on the east coast of the United States and to conduct a market study in Western Europe and explore export opportunities there.

CIRION is a corporation offering the North American biopharmaceutical industry management and clinical analysis services at all stages of therapeutic and diagnostic product development. "I want to congratulate CIRION on the recent accreditation of its laboratories by the College of American Pathologists (CAP), an organization recognized by the FDA. CIRION is also an accredited reference laboratory by the Center for Disease Control. It is a great success story which illustrates why Canada Economic Development supports SMEs, organizations and communities in their development efforts," stated Mr. Saada.

The Minister took advantage of his tour of CIRION's facilities to give a rundown on the financial assistance awarded by Canada Economic Development to 18 Laval enterprises to help them improve their competitiveness. Since April 1, 2003, these enterprises have received repayable contributions totalling $3,020,884 for the completion of 19 projects aimed at enhancing their productivity. This support is expected to generate investments in excess of $7.5 million and create 156 jobs in Laval.

"To ensure that Canada becomes one of the most innovative and productive countries in the world and maintains that standing in the face of rapid globalization and technological change, the Government of Canada is committed to doing all it can to encourage enterprises to seek out new ways to improve productivity and enhance their performance," the Minister concluded.

Canada Economic Development's mandate is to promote the economic development of the regions of Quebec. Primarily through financial assistance programs, the Agency elicits and supports the implementation of economic development projects. The two priorities the Agency has set itself are to foster innovation and the knowledge economy in each region of Quebec, and to help communities that are having difficulty adjusting to the new economy. In this way, the Agency contributes to the attainment of the Government of Canada's objective of building the 21st Century economy.

Funding for this initiative was provided for in the March 2004 federal budget.

A backgrounder regarding "Productivity enhancement projects" is available at the following address: http://www2.ccnmatthews.com/database/fax/2000/back0131.pdf

Canada Economic Development is on line at www.dec-ced.gc.ca. Subscribe to the Agency's press releases at www.dec-ced.gc.ca/asp/SitePersonnalise/acces_personnalise.asp?LANG=EN to keep up with the latest news.

FOR FURTHER INFORMATION PLEASE CONTACT:

Canada Economic Development
Nathalie Jutras
Communications
(514) 283-2800
nathalie.jutras@dec-ced.gc.ca
or
Canada Economic Development
Office of the Honourable Jacques Saada
Daniel Dezainde, Press Secretary
(514) 496-1282

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