Ontario Invests $1.7 Million to Boost Piramal Pharma Life Sciences Innovation
Piramal Pharma Solutions secures $1.7M from Ontario to upgrade its Aurora facility, boosting life sciences innovation and creating new jobs.
Piramal Pharma Solutions (PPS) has secured a significant financial boost to advance its operations in Canada. The company's drug substance site in Aurora has been awarded $1,753,620 from the Ontario government through the Life Sciences Scale-Up Fund (LSSUF).
This strategic injection of capital is designed to upgrade site infrastructure and facilitate the commercialization of health technologies developed in Ontario for new global markets.
Major Infrastructure Upgrade and Job Creation
The government's contribution is part of a much larger capital commitment by Piramal Pharma Solutions. The company is investing more than $5.3 million into its Aurora facility to modernize its infrastructure. This massive undertaking aims to strengthen the manufacturing of Active Pharmaceutical Ingredients (APIs) and enhance research and development capabilities.
The expansion is set to have a direct impact on the local workforce. According to the company, the project will result in:
- 12 new jobs being created.
- 183 existing positions being protected.
Strengthening Ontario's Life Sciences Hub
The investment is a key component of Ontario's broader strategy to solidify its position as a global leader in biomanufacturing and life sciences. By supporting companies like Piramal, the province aims to ensure that innovative technologies can be developed, commercialized, and deployed effectively within the healthcare system.
The Life Sciences Scale-Up Fund, which was launched in 2024, works alongside the Health Innovation Pathway. This synergy is intended to support the province's vision of providing connected and convenient care closer to home while scaling up domestic production capacities.
"This funding will help enable Piramal Pharma Solutions to upgrade our site infrastructure, strengthen our manufacturing capabilities, and enhance our ability to serve patients and customers around the world," stated Peter DeYoung, CEO of Piramal Global Pharma.
The modernization efforts at the Aurora site are also expected to focus on critical areas such as sustainability, operational efficiency, and responsible manufacturing practices, ensuring the facility remains globally competitive for generations to come.