Brazilian pharmaceutical firm Biolab Pharma has collaborated with the Government of Ontario, Canada, to open its first international research development and innovation (RD&I) facility in the province.
The new 13,000ft² RD&I facility, which is part of the firm’s overall C$57.4m ($45.41m) investment, will see a funding of C$2.8m ($2.2m) through the Ontario’s Jobs and Prosperity Fund.
Biolab Pharma CEO Cleiton de Castro Marque said: “We are pleased to partner with the Ontario government on this exciting initiative as we expand our operations internationally.
“Our new facility will help us sharpen our competitive edge and better serve our customers by continually improving and creating innovative products.”
The firm is also planning for new equipment and special software to improve its research capabilities, which could allow development and commercialisation of new products in North America and Europe.
Planned to open in Mississauga city, the facility is anticipated to be complete by December 2020 and is expected to create new life sciences jobs, aiding economic growth of Ontario.
Ontario Finance Minister Charles Sousa said: “Through the Jobs and Prosperity Fund alone, businesses have created or retained more than 35,000 jobs, including 40 announced today at Biolab Pharma.
“These partnerships contribute to the strong and sustained growth of the Ontario economy, with over 794,500 net new jobs created since the recession.”
With more than 50% of Canada’s total life sciences economic activity, Ontario’s life sciences sector employs approximately 60,000 people.
Biolab Pharma develops, manufactures and commercialises prescription medicines, with a primary focus on drugs for cardiology and dermatology.