Toronto, Ontario
Southern Ontario's life sciences sector is home to first-rate research institutions, cutting-edge companies and a world-class workforce. The Government of Canada is committed to ensuring that businesses and organizations in this critical sector have access to the support they need to better the lives of Canadians while creating good, skilled jobs.
Today, the Honourable Ruby Sahota, Minister of Democratic Institutions and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), visited Toronto Innovation Acceleration Partners (TIAP), a not-for-profit organization that supports life sciences companies in the region. While there, Minister Sahota announced over $16 million for six life sciences organizations: McRae Imaging Inc., Nanz Pharma, OBIO, Synaptive Medical, Traferox Technologies Inc. and Toronto Innovation Acceleration Partners.
As part of this, Toronto Innovation Acceleration Partners received $3.5 million to work with academic and research institutions to create, grow and scale life sciences ventures. With this federal investment, TIAP will support 50 health sciences businesses by providing them with the resources to succeed, speed up the commercialization of their solutions, and attract funding for continued growth, all while strengthening their presence across southern Ontario.
By expanding production capabilities, commercializing new products, creating accessible support and resources, and new programming for life sciences SMEs, these innovators are meeting the growing demand for quality, home-grown medical products and laying the foundation for a healthier future. Additional information on these projects is included in the backgrounder.
The Government of Canada is committed to working together with organizations and businesses to support the health of Canadians through solutions, promoting a strong and thriving life sciences ecosystem into the future.
