Federal govt prescribes $2.9M boost for life sciences sector

eAwazLocal News

Halifax – 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. 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. This 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.” – Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA