Government of Canada invests in growth of southern Ontario’s life sciences sector
News release
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
May 31, 2024 – Mississauga, Ontario
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.
Quotes
“The Hamilton-Toronto corridor contains the largest life sciences community in Canada and has one of the largest clusters of life sciences companies in North America. With this investment, SPEC Labs is helping to address a critical gap in this ecosystem by creating a dedicated wet lab space where companies can collaborate, grow their products, and thrive right here in southern Ontario.”
– The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario
“Mississauga is more than a city; it’s a dynamic hub that contributes significantly to southern Ontario's prosperity. This strategic investment made today by the Government of Canada for SPEC Labs demonstrates our continued support for the growing life sciences sector and its critical importance to our local economy, driving innovation, and improving Canadians’ health.”
– Charles Sousa, Parliamentary Secretary to the Minister of Public Services and Procurement and Member of Parliament for Mississauga–Lakeshore
“The investment from FedDev Ontario to support life science companies in commercializing their technologies provides essential infrastructure to bolster Canada's world-class life science organizations. This space will become the central hub for partnerships and knowledge exchange within the scientific community.”
– Doris Qamar, Chief Executive Officer, SPEC Labs Centre for Advancement of Biomedical Innovation
Quick facts
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Incorporated in 2023, Mississauga-based SPEC Labs Centre for Advancement of Biomedical Innovation (SPEC Labs) is Canada’s space for scaling life science companies.
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Since 2015, the Government of Canada, through FedDev Ontario, has invested nearly $130 million in more than 160 projects in Mississauga (Census Subdivision), creating over 2,000 jobs and maintaining over 11,800 jobs.
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Since November 2015, FedDev Ontario has invested nearly $230 million in over 55 projects in the life sciences sector, creating nearly 3,800 jobs and maintaining over 2,500 jobs.
Associated links
Contacts
Edward Hutchinson
Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
Edward.hutchinson@feddevontario.gc.ca
Media Relations
FedDev Ontario
feddevontariomediarelations-relationsmedias@feddevontario.gc.ca
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