Therapure receives $20M from FedDev Ontario

Aug. 17, 2015 – Therapure Biopharma is the recipient of a $20-million contribution under the Federal Economic Development Agency for Southern Ontario’s (FedDev Ontario’s) Advanced Manufacturing Fund (AMF). The Fund was created to support the “development of transformative technologies by Ontario manufacturers and allow them to compete with the rest of the world.”

Based in Mississauga, Ont., Therapure is a manufacturer of biologics for medical use with particular expertise in plasma-derived proteins. According to the company, the support from the AMF will allow Therapure to quickly advance a new technology for manufacturing plasma proteins. As a result of this research, development and manufacturing opportunity, approximately 91 new highly skilled and well-paying jobs will be created at its Mississauga facility, it noted.

“The Government of Canada is proud to support the successful technologies Therapure is developing — technologies that will provide important new options for patient care and contribute to an already thriving Ontario manufacturing sector,” said Gary Goodyear, minister of state for FedDev Ontario.

“This investment, for which we thank the Government of Canada, will help us expand our scope and accelerate our growth in the plasma proteins industry,” continued Nick Green, president and CEO of Therapure. “This expansion was a natural progression for Therapure after having established ourselves as a successful contract manufacturer of complicated biologics with additional expertise in plasma-derived proteins.”