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Edmonton-based DrugBank receives $715,000 funding boost from federal program to expand pharmaceutical innovations and enter new markets.

Headquartered in Edmonton, DrugBank’s mission is to augment human intelligence so that all medical information – from bench side to bedside – is used to its full potential. Their vision is a world where everyone has access to the best possible medical outcomes. DrugBank, a Launch Party 5 company, provides a database for the world’s pharmaceutical knowledge banked in one place. A one-stop shop for up-to-date scientific and clinical data, curated pharmacological, pharmaceutical, and chemical data, information on approved drugs, investigational drugs, and drug targets, drugs in early research, clinical trials, and approval.

DrugBank’s technology has established them as the industry standard for pharmaceutical research, with over 12 million visitors to their online site per year. They’ve also been cited in over 26,500 scientific publications, and over $1.5B in research has utilized DrugBank’s tools. They’re trusted by the most influential regulatory agencies in the world, including the National Institutes of Health (NIH) and the World Health Organization (WHO). 

Last week, the Government of Alberta announced a total of $12,246,084 in funding that will provide eleven companies with further opportunities for business growth and jobs across key sectors to support a prosperous economic future across Edmonton. Among the companies to receive a portion of funding is DrugBank, which will see $715,000 in funding from the Business Scale-up and Productivity (BSP) federal program to help scale-up their operations and enter new markets.

In 2014, DrugBank (as OMx) was a Launch Party 5 company, where DrugBank CEO, Michael Wilson spoke about his experience launching a company during the week’s festivities. Like many founders, the opportunity to participate in Launch Party was a pivotal moment in DrugBank’s origin story. In 2019, DrugBank was one of Edmonton’s Startup Week and Startup Crawl sponsors where attendees had the chance to meet the brains behind Edmonton’s emerging businesses and check out their workspaces in the downtown core.

We look forward to Startup Week every year! It’s part of our origin story and coming back each year to see new companies launching, meeting new people, and learning a ton is why we have a countdown in our calendars. It helps us remember where we came from and how grateful we are to events like Startup Week that help companies get the footing they need.

Launch Party allows Edmonton to meet the city’s brightest entrepreneurs, try their products, and celebrate everything the local innovation community has to offer. This isn’t a typical networking event or trade show. It’s a party designed to celebrate and showcase the rockstar entrepreneurs of Edmonton. Launch Party 14 takes place on Thursday, October 12, 2023, at the Edmonton Convention Centre. Launch Party tickets are available here.

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