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.
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