Ontario Chamber of Commerce Welcomes Government’s Action to Advance Life Sciences Strategy

(Toronto, October 16, 2024) – Today, the Ontario Chamber of Commerce’s (OCC) President and CEO, Daniel Tisch, released the following statement in response to the provincial government’s announcement of the next phase of its Life Sciences Strategy:

“The Ontario Chamber has been calling for the acceleration and expansion of Ontario’s Life Sciences Strategy. That’s why we welcome the government’s $146 million investment, which aligns with our key recommendations to drive innovation and growth in biomanufacturing and health sciences.

“We particularly commend the $46 million Ontario Biosciences Research Infrastructure Fund, the $24 million for the new Life Sciences Scale-Up Fund and $40 million more for the Venture Ontario Fund, as well as investments in wet labs and speeding up clinical trials. We also applaud Premier Ford’s efforts to leverage Ontario’s leadership of the Council of the Federation to expedite patient access to life-saving medicines.

“To build on this momentum, we urge the government to introduce new tax credits to incentivize significant $100M+ biomanufacturing investments; protect our world-leading research universities through adequate funding; expand scholarships to retain top talent; invest in intellectual property protection; and re-evaluate value-based procurement to facilitate adoption of made-in-Ontario medical technologies that improve patient outcomes.

“These steps are crucial to cement Ontario’s position as a global leader in life sciences, enhancing long-term health outcomes for Ontarians while driving economic growth.”

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About the Ontario Chamber of Commerce
The Ontario Chamber of Commerce (OCC) is the indispensable partner of business and Canada’s largest, most influential provincial chamber. It is an independent, non-profit advocacy and member services organization representing a diverse network of 60,000 members. The OCC’s mission is to convene, align and advance the interests of its members through principled policy work, value-added business services and broad engagement to drive competitiveness and sustainable, inclusive economic growth in the province.

For more information, please contact:
Andrea Carmona
Senior Manager of Public Affairs
Ontario Chamber of Commerce
andreacarmona@occ.ca | Mobile: (647) 234-0255