HAMILTON—FedDev Ontario plans to invest nearly $12 million to help establish a biomedical engineering and advanced manufacturing facility at McMaster University in Hamilton, Ont.
With total project costs running to $33.3 million, the Fraunhofer Project Centre for Biomedical Engineering and Advanced Manufacturing, known simply as BEAM, will develop new technologies for eye care, point-of-care medical devices and cancer treatments.
Making the announcement July 26 in Hamilon, Navdeep Bains, Canada’s minister of Innovation, Science and Economic Development said the new facility will create jobs and help establish a new industry in the southern Ontario city.
“The most innovative solutions often happen when people from different fields collaborate,” Bains said. “That’s why it’s important for universities, health-care institutions, the business community and government to work together.”
McMaster University, Fraunhofer IZI, the Government of Ontario, the city of Hamilton, as well as a number of other not-for-profit organizations and private sector partners will contribute the remaining $23.3 million in project costs. FedDev Ontario expects the diverse range of partners will help accelerate the commercialization process for new products designed at the facility.
The investments will create 74 full-time jobs in Hamilton.