Ontario Invests $1.7 Million in Piramal Pharma's Biologics Facility
Ontario is providing $1.7 million to Piramal Pharma Solutions' Aurora site to boost biologics innovation and secure jobs, supporting a broader company investment.
Ontario has committed $1.75 million to Piramal Pharma Solutions (PPS) through its Life Sciences Scale-Up Fund. This provincial investment supports Piramal's own capital expenditure of over $5.3 million aimed at modernizing its active pharmaceutical ingredient (API) manufacturing facility in Aurora, Canada.
The funding is part of Ontario's strategy to enhance innovation in the life sciences and healthcare sectors. Piramal plans to use the capital to upgrade its Aurora facility's infrastructure and expand its manufacturing capabilities. The company also aims to commercialize health technologies developed in Ontario for global markets.
This project is expected to create 12 new jobs and retain 183 existing positions. It is intended to strengthen domestic API production and bolster Ontario's standing in the biopharmaceutical industry. The support comes from Ontario's two-year, $24 million Life Sciences Scale-Up Fund, designed to accelerate health innovation.
Piramal Pharma Solutions is a global contract development and manufacturing organization (CDMO). The company stated that the funding will enhance its production capacity and its ability to serve global clients, while also supporting initiatives focused on sustainability and operational efficiency.