Federal government prescribes $2.9M boost for life sciences sector
October 20, 2023 · Halifax, Nova Scotia · Atlantic Canada Opportunities Agency (ACOA)
Atlantic Canada’s life sciences sector attracts international investment and creates export opportunities that diversify our economy and create highly skilled jobs. In Nova Scotia, the Government of Canada is helping six life sciences companies seize new opportunities to grow their businesses.
Federal government supports innovative life sciences companies
Today, Andy Fillmore, Member of Parliament for Halifax, announced repayable contributions totalling $2,989,259 to Adaptiiv Medical Technolgies, Daxsonics Ultrasound Inc., NovaResp Technologies Inc., Sparrow Acoustics Ltd., Allumiqs Corporation and B-Line Technologies. The announcement was made on behalf of the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister Responsible for ACOA.
These investments will help the companies enhance product offerings, scale-up production, create efficiencies and enter new markets. For more information about the funding recipients and projects, please see backgrounder.
Today’s announcement demonstrates the Government of Canada’s commitment to support a thriving life sciences sector that creates jobs, attracts talent, drives investment, and advances innovative solutions to improve health outcomes for Canadians and people around the world.
“Atlantic Canada has all the ingredients to continue growing a globally competitive life sciences sector: resources, expertise, and a strong innovation ecosystem. Today’s investments will help these companies bring game-changing medical technologies to a wider market – strengthening the economy, and improving lives for Canadians and people around the world.”
- The Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA
“It’s no secret that Halifax’s life sciences sector is thriving. Companies like the ones supported today are embracing innovation to develop solutions that address some of the most pressing medical issues facing Canadians. I’m proud this Government is making smart investments that will help local entrepreneurs to scale their big ideas and introduce products to new markets.”
- Andy Fillmore, Member of Parliament for Halifax
"We are grateful for the financial support provided by ACOA's Business Development Program, which is vital to early-stage companies preparing to scale. The support has allowed us to continue innovating and perfecting our new platform as a service called Adaptiiv On Demand, powered by HP, that is shipping 3D printed medical devices to customers within three days. This funding has been instrumental in advancing our commercial go-to-market strategy in the US, which represents almost half of our target market. In addition, the company has been preparing to bring some manufacturing in-house which will eventually lead to further expansion in the region through digital manufacturing."
- Alex Dunphy, CEO, Adaptiiv Medical Technologies
“The REGI program has been pivotal to the growth at Daxsonics, providing support at the right time to hire key expertise and secure capital equipment, allowing us, and companies like us around Nova Scotia, to invest in innovation and the infrastructure needed to compete in the global biotech industry.”
- Jeff Leadbetter, President, Daxsonics Ultrasound Inc.
“We are extremely grateful of ACOA’s support for NovaResp and other life sciences companies in the region. I believe we are about to revolutionize the treatment of obstructive sleep apnea, with an innovation that’s created right here in Halifax, and we have ACOA to thank for as the support that’s been here for us since day one.”
- Hamed Hanafi, Founder and CEO, NovaResp Technologies Inc.
“Atlantic Canada is becoming recognized as an exciting place for med tech companies pursuing difficult problems with smart new strategies. Sparrow is honoured to be working with ACOA as part of this amazing community.”
- Mark Opauszky, CEO of Sparrow Acoustics Inc.
“ACOA’s continued commitment to investing in life sciences in Atlantic Canada is critical to companies like ours. With this funding from ACOA, Allumiqs is expanding the pathway for our multiomics, mass spectrometry, and data analytics solutions beyond Canada to key international markets, including the United States and the European Union. Growing our business, our solutions offering, and competing in the $360 billion global biopharma market takes collaboration, and partners like ACOA to see our potential, understand our development strategy, and support it.”
- Kent MacLean, Founder and CEO, Allumiqs Corporation
"ACOA contributions have allowed us to expand our team and continue to scale our product to new markets within Canada and the United States. We are grateful for the support from ACOA and look forward to leveraging this funding to take our company to the next level and create meaningful solutions that help protect our clients and their customers."
- Aaron Short, CEO, B-Line Technologies
Nova Scotia has an established health and life sciences cluster that is home to over 100 companies, generating over 1,500 corporate jobs and revenues in excess of $300 million.
The funding announced today is provided through the Atlantic Canada Opportunities Agency’s (ACOA) Regional Economic Growth through Innovation (REGI) program.
Director of Communications
Office of the Minister of Rural Economic Development
and of the Atlantic Canada Opportunities Agency
Director of Communications
Atlantic Canada Opportunities Agency
Fouinder and CEO
NovaResp Technologies Inc.
CEO and President
Sparrow Acoustics Inc.
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