FedNor invests more than $2.3 million in medical technology and innovation in the Thunder Bay region
Federal funding to support technology development that will fuel job creation, and improve health outcomes for Canadians
July 19, 2022 – Thunder Bay, ON – Federal Economic Development Agency for Northern Ontario – FedNor
Growth in medical technology and innovation helps build and maintain strong regional economies while improving foundations of local health services. This support of the medical sector will help Canadians everywhere experience the high quality of living for which our nation is recognized globally.
The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor, and Member of Parliament for Thunder Bay—Superior North, today announced a FedNor investment of $2,324,776 in support of three medical technology and innovation projects in the Thunder Bay region.
Of the total, the Thunder Bay Regional Health Sciences Centre (TBRHSC), will receive $1,228,005 to enhance and expand its Radiopharmacy/Cyclotron technology, which makes radioactive isotopes for medical imaging and research. TBRHSC will also receive $684,110 to renovate and upgrade its medical imaging suite and purchase cutting-edge equipment to expand the research and development capacity. As part of the announcement, the Lake Superior Centre for Regenerative Medicine (RegenMed), will receive FedNor funding of $412,661 to purchase and install a patented acellular dermal matrix product that will improve health outcomes for diabetes and other chronic wound and burn patients.
“Supporting medical innovation could mean many things, but at the core it is about advancing health research and technology that will benefit all of us. In Northern Ontario we have some amazing partners doing great work in medical innovation, and that is why FedNor is investing $2.3 million to support the Thunder Bay Regional Health Sciences Centre and RegenMed. This will help improve the foundations of local health services, and grow medical technology innovation in Thunder Bay.”
- The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor, and Member of Parliament for Thunder Bay–Superior North
“We are proud to provide excellent health care services to the region, and FedNor’s support helps us maintain and build upon that quality of care. Medical research and innovation allows us to expand and evolve our services while also creating good local jobs. This funding will help us support our area both in terms of health care and economically as well.”
- Dr. Rhonda Crocker Ellacott, President and CEO of Thunder Bay Regional Health Sciences Centre, and CEO of Thunder Bay Regional Health Research Institute
“The funding announced today is an important step toward advancing medical science to a globally-competitive level. FedNor’s support will allow us to continue to innovate and grow while supporting the region with the creation and maintenance of both jobs and the capacity to supply advanced medical products.”
- David Stezenko, Executive Director of Lake Superior Centre for Regenerative Medicine (RegenMed)
The funding announced today is provided through FedNor’s programs, which provide financial support of projects that lead to job creation and economic growth, and through which FedNor works with businesses and community partners to build a stronger Northern Ontario.
FedNor’s Northern Ontario Development Program (NODP) supports projects led by municipalities, First Nations, and other organizations and institutions that promote sustainable community economic development, diversification, job creation, and self-reliant communities.
FedNor’s Regional Growth Through Innovation Fund (REGI) supports the growth of Northern Ontario businesses, their expansion into new markets, and their adoption of new technologies and processes.
RegenMed (Lake Superior Centre for Regenerative Medicine) is a tissue bank that works to save and enhance the lives of Canadians through the advancement of regenerative therapies. RegenMed operates a not-for-profit cost recovery model.
Alison Murphy, Press Secretary
Office of the Minister of Indigenous Services and Minister responsible for FedNor
Federal Economic Development Agency for Northern Ontario
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