Province of Ontario

12/03/2025 | Press release | Distributed by Public on 12/03/2025 13:22

Ontario Welcomes $138 Million Investment in the Life Sciences Sector

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HAMILTON - The Ontario government is welcoming an investment of over $138 million from AtomVie Global Radiopharma Inc., a homegrown, leading manufacturer of radiopharmaceuticals,to expand its facility in Hamilton. The investment will sustain 131 existing jobs and create 70 new, high-paying jobs, while expanding domestic manufacturing capacity to help bring life-saving cancer treatments to patients in Canada and around the world.

"AtomVie's investment is terrific news for Hamilton workers and strengthens Ontario's position as a global leader in the production and delivery of radiopharmaceuticals," said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. "With global demand for targeted therapies set to ramp up in the years ahead, AtomVie's expanded Hamilton facility adds a critical link to our province's life sciences supply chain and ensures that the production and research of life-saving medical treatments happens right here in Ontario."

AtomVie's expansion will increase production capacity to support both clinical trials and commercial manufacturing of innovative radiopharmaceuticals, solidifying the province's competitive advantage in the critical life sciences field. These technologies are increasingly important in oncology, enabling targeted therapies that destroy cancer cells more precisely while avoiding healthy cells, leading to fewer side effects than traditional oncology treatments. In support of this investment, Ontario is providing up to $5 million in funding through the Invest Ontario Fund.

"We are proud to make this significant investment in Ontario's life sciences ecosystem," said Bruno Paquin, Chief Executive Officer, AtomVie. "With more than $138 million committed by AtomVie, this facility will expand access to high-quality radiopharmaceutical manufacturing and ensure that innovative therapies can reach patients who need them. Ontario's strong nuclear medicine infrastructure and growing radiopharmaceutical community make it the ideal home for this next phase of growth."

With U.S. tariffs impacting workers and businesses across key sectors, the Ontario government is protecting the province by lowering taxes, reducing red tape, and making strategic investments that will build Ontario into the most resilient, self-reliant and competitive economy in the G7. Since 2018, Ontario has attracted a historic $113 billion in foreign direct investments and created one million new jobs. AtomVie's investment is the third major project announced by the government this week, totalling $400.8 million and up to 435 Ontario jobs.

Quick Facts

  • The 2025 Ontario Economic Outlook and Fiscal Reviewcontinues to protect Ontario and supports a more competitive, resilient and self-reliant economy by cutting red tape, investing in infrastructure, supporting workers, improving services and making life more affordable.
  • Ontario is strengthening its life sciences sector by expanding domestic manufacturing capacity, reinforcing its global leadership in medical isotopes, and advancing the goals outlined in its Life Sciences Strategy, Taking Life Sciences to the Next Level.
  • Ontario has attracted over $6 billion in life sciences investments since 2018.
  • Ontario is home to almost 2,000 life sciences firms that export over $11.8 billion annually and employ more than 74,000 people.
  • Founded as a spin-out of McMaster University's Centre for Probe Development and Commercialization, AtomVie is the only Contract Development and Manufacturing Organization of this scale in Canada specializing in radiopharmaceuticals.
  • Every year, more than 86,000 STEM students graduate from post-secondary programs across the province, producing one of the most highly skilled workforces in the world.
  • Since its inception, Invest Ontario has announced over $11.4 billion in investments, resulting in the creation of more than 10,500 jobs in the province.

Quotes

"Under the leadership of Premier Ford, our government is protecting Ontario's health-care system as a leader in nuclear medicine and life-saving therapies. AtomVie's expansion in Hamilton will boost radiopharmaceutical production, helping more Ontarians access cutting-edge cancer treatments and bringing world-class treatments closer to home for more families."

- Sylvia Jones
Deputy Premier and Minister of Health for Ontario

"Ontario's nuclear excellence is driving breakthroughs in cancer care and fueling a new era of medical innovation. This investment expands our isotope production and advances our goal of doubling production by 2030 from Ontario's Candu nuclear fleet. Together, these efforts strengthen a made-in-Ontario supply chain that the world depends on - creating jobs and saving lives."

- Stephen Lecce
Minister of Energy and Mines

"Under Premier Ford's leadership, the Ontario government continues to champion world-class innovation here in Hamilton. This investment towards AtomVie's expansion will create local skilled jobs for thousands of STEM graduates and increase the production of life-saving medical isotopes used for cancer treatment across the province. Our government remains steadfast in protecting and promoting Hamilton workers that make this possible."

- Monica Ciriello
MPP Hamilton Mountain

"AtomVie's new, state-of-the-art radiopharmaceutical manufacturing facility in Flamborough-Glanbrook will ensure patients in Canada and around the world have better access to cutting-edge therapies for cancer and other diseases. This expansion strengthens Hamilton's growing life sciences sector, builds a highly-skilled workforce and further elevates the city's reputation on the global biotech and pharma stage."

- Donna Skelly
MPP Flamborough-Glanbrook

"Our government is strengthening Ontario's life science's sector by securing historic investments that have put our province and the City of Hamilton at the forefront of global medical research and innovation. AtomVie's multimillion-dollar investment will continue to build on Hamilton's global reputation as a crucial hub for the development and manufacturing of specialized radiopharmaceuticals and other life-saving medical treatments. With investments like this, people across our province will continue to benefit from world-class, Made-in-Ontario treatment options."

- Neil Lumsden
MPP Hamilton East - Stoney Creek

"Hamilton is a city built on innovation, skilled workers, and world-class research - and today's announcement reflects that strength. AtomVie's expansion here illustrates the confidence industry leaders have in our community and our growing life sciences sector. This expansion will create good jobs for Hamiltonians and strengthen our city's role in delivering cutting-edge cancer treatments to patients around the world. I'm thrilled to see this next chapter of growth take place in our community, and I want to thank the Minister of Economic Development, Job Creation and Trade, Vic Fedeli, and the Ontario government for supporting this important investment. I look forward to the continued opportunities it will bring for Hamilton workers and families."

- Andrea Horwath
Mayor of Hamilton

"It's always exciting to support projects that will make a meaningful impact, especially those that have the potential to improve and save lives. We're proud to work with a homegrown leader in this strategic expansion, which would strengthen Ontario's role as a reliable supply-chain partner in the growing global market for radiotherapeutics."

- Khawar Nasim
CEO of Invest Ontario

"Our investment reflects AtomVie's long-term commitment to global radiopharmaceutical supply and to Ontario as a centre of excellence. We are grateful for the proposed Invest Ontario grant, which complement our financing. Together, these resources will help accelerate construction, create high-quality jobs, and enhance Canada's competitiveness and leadership in this rapidly growing sector."

- Patrick Lim
Chief Financial Officer, AtomVie

Province of Ontario published this content on December 03, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on December 03, 2025 at 19:22 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]