FedDev Ontario invests $5 million in SPEC Labs Centre for Advancement in Biomedical Innovation to support a new 20,000-square-foot dedicated wet lab space in Mississauga for innovative life science companies
The Toronto-Hamilton corridor has gained international recognition as a powerhouse for generating cutting-edge life sciences start-up companies, owing to its robust research and development ecosystem, highly skilled workforce and renowned academic institutions. The Government of Canada is committed to fostering innovation and driving growth within the life sciences sector through strategic investments and collaborative initiatives.
Today, Charles Sousa, Parliamentary Secretary to the Minister of Public Services and Procurement and Member of Parliament for Mississauga-Lakeshore, on behalf of the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced an investment of $5 million for SPEC Labs Centre for Advancement of Biomedical Innovation (SPEC Labs). SPEC Labs, is a not-for-profit corporation that provides ready-to-use lab facilities and access to world-class equipment and expertise to assist life science companies poised for scaling up and expanding.
Through this investment, SPEC Labs will address a critical need for lab space in southern Ontario's life sciences sector by establishing a new 20,000-square-foot dedicated wet lab that meets the needs of companies specializing in biotechnology, health technology, medical technology, therapeutics, and cell and gene therapies. The new space will provide needed state-of-the-art equipment to support these companies as they advance from an initial incubator or accelerator stage to the next stage of growth where they can conduct clinical trials and initiate sales. This will help keep these innovative companies in Canada and help Canadians live longer and healthier lives.
The Government of Canada is committed to fostering inclusive environments for Canadian companies by equipping them with the necessary tools to innovate, grow, improve the lives of Canadians, and compete on the global stage.
