Government of Canada invests in southern Ontario’s life sciences sector

Six life sciences organizations expand manufacturing capabilities and commercialize innovations

February 14, 2025 – 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.  

Quotes

“Canadian life sciences companies and the organizations that support them have the potential to address complex health challenges impacting people at home and abroad. By investing in these organizations our government is investing in bettering the lives of Canadians while strengthening our economy."
– The Honourable Ruby Sahota, Minister of Democratic Institutions and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario)

“For the past 15 years, TIAP has proudly partnered with our member institutions, industry, investors, and other ecosystem collaborators to transform Ontario’s leading health research into Canadian-made innovations and successful commercial ventures. Now, through this additional FedDev Ontario support, we will be able to build on our success and maximize these benefits for all Ontarians and Canadians – as well as for patients around the world.”
– Parimal Nathwani, President and CEO, Toronto Innovation Acceleration Partners

Quick facts

• Not-for-profit Toronto Innovation Acceleration Partners was created in 2008 to support life sciences companies along the full innovation continuum from early-stage ideation to commercialization and scaling.

• Toronto Innovation Acceleration Partners previously received $6.5 million through FedDev Ontario to provide incubation and acceleration services for emerging health and life sciences companies leading to anchor small- and medium-sized businesses in Ontario, which resulted in 250 jobs and support for nearly 50 businesses.

• McRae Imaging Inc., located in Mississauga, began in 1965 as a photo and image lab and is known globally for its healthcare lighting solutions and custom electronic systems that enhance wellness and safety.

• Incorporated in 1996 and located in Brampton, Nanz Pharma, a third-party manufacturer of cosmetics, natural health products and pharmaceuticals, is expanding its manufacturing capability for pharmaceuticals and nutraceuticals in Pickering. 

• Since 2009, OBIO has forged collaboration with industry, investors, academia, patients and government to deliver solutions to achieve health and economic benefits for Canadians.

• Incorporated in 2012, in Mississauga and London, Synaptive Medical Devices is a Canadian-owned business developing and producing surgical planning, imaging and assistive tools in the medical devices and medical imaging sectors.  

• Traferox Technologies Inc. is a Toronto medical device company that is commercializing two technology systems to keep lungs healthy in transport for transplants.

• Since November 2015, FedDev Ontario has invested more than $260 million in nearly 70 projects in the life sciences sector, supporting over 8,400 jobs.