Invest Ontario Supports New Biomanufacturing Facility in Hamilton
Project with OmniaBio Inc. drives global leadership in cell and gene therapy
HAMILTON, ON, March 31, 2022 /CNW/ - Invest Ontario is supporting OmniaBio Inc. in launching a new biomanufacturing facility that will catalyze Ontario life sciences jobs and innovation while advancing pioneering medicine with the potential to cure, not just treat, many forms of cancer, cardiovascular diseases, Parkinson's and diabetes.
OmniaBio, a Canadian cell and gene therapy contract development and manufacturing organization (CDMO), will be the anchor tenant in a new biomanufacturing campus being built in Hamilton's McMaster Innovation Park.
Subject to reaching a definitive agreement, Invest Ontario will provide a loan of up to $40 million, contributing to an overall project investment of over $580 million, creating 250 jobs by 2031. Invest Ontario will also be providing non-financial support to OmniaBio, including helping the company meet its future talent needs and promoting opportunities to enhance local skills development partnerships.
As a contract manufacturer, OmniaBio will support a broad range of cell and gene therapy companies – both homegrown and international – by providing process development and clinical/commercial production services in compliance with global health standards.
The OmniaBio investment supports Ontario's new Life Sciences Strategy that will advance the province's leadership as a North American life sciences hub offering a collaborative ecosystem for the development, commercialization and adoption of innovative health products and services.
OmniaBio is being spun out of the Toronto-based Centre for Commercialization of Regenerative Medicine (CCRM), a leader in developing and commercializing regenerative medicine-based technologies and cell and gene therapies. OmniaBio will build on CCRM's existing global client base, with the project ultimately creating a six-fold increase in biomanufacturing capacity.
Ontario's life sciences sector is the largest in Canada (representing more than 50 per cent of related economic activity) and comprises about 1,900 firms employing around 66,000 people.
QUOTES
"OmniaBio Inc. will be a game-changer for Ontario and Canada. It will provide missing infrastructure to allow Ontario and Canadian cell and gene companies to remain here, while also attracting foreign companies. Cell and gene therapy is Canada's opportunity to be global leaders in life sciences. Investing in manufacturing is a key driver, and we're grateful to Invest Ontario for its leadership and foresight."
— Michael May, Chair, OmniaBio Inc.
"As the first facility of its kind to provide commercial-scale cell and gene therapy manufacturing in Canada, OmniaBio will support our pipeline of homegrown life sciences companies, while boosting Ontario's presence in the global biotech industry. This is the kind of value-added, strategic investment that our government is proud to champion – creating skilled jobs, advancing our healthcare and driving innovation."
— Vic Fedeli, Minister of Economic Development, Job Creation and Trade
"Invest Ontario welcomes the opportunity to partner with OmniaBio Inc. in this transformative project that will boost life sciences talent, innovation and supply chain capacity. Our team looks forward to building on today's announcement as we pursue strategic investments with homegrown champions and global leaders to drive Ontario growth and innovation."
— Trevor Dauphinee, CEO, Invest Ontario
BACKGROUND
Established in 2020, Invest Ontario is a board-led provincial agency chaired by Elyse Allan, C.M. Its mandate is to attract and secure business investments that create jobs, generate returns to the province and support the sustainable growth and competitiveness of Ontario's life sciences, advanced manufacturing and technology sectors.
Ontario's life sciences industry
Centre for Commercialization of Regenerative Medicine (CCRM)
SOURCE Invest Ontario
Neil Trotter, Invest Ontario, [email protected]
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