Ontario Together Fund invests $1.9M in Bora Pharmaceutical Services
With this investment, Bora Pharmaceutical Services will be installing new equipment that will allow it to develop new medicines more quickly than was previously possible.
Research & Development
MISSISSAUGA — The Ontario government is supporting an investment of more than $2.5 million for pharmaceutical manufacturer Bora Pharmaceutical Services Inc. Through the Ontario Together Fund, the province is investing more than $1.9 million to help Bora Pharmaceutical Services invest in equipment that will help to grow local pharmaceutical manufacturing capacity, strengthening pandemic preparedness and supporting the life sciences sector. This investment will create 8 new, local jobs.
“Through the Ontario Together Fund, our government is supporting innovative pharmaceutical manufacturers so we can support Ontario’s economic potential,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “We are proud to partner with Bora Pharmaceutical Services to scale up their pharmaceutical production capacity, to help them secure additional production mandates.”
Bora Pharmaceutical Services is the Canadian subsidiary of Bora Pharmaceuticals Co. Ltd., a publicly traded Taiwanese life sciences company with experience supplying products around the world. Bora Pharmaceutical Services manufactures needed medicines for both global patients, including the required services to bring a drug product from early development stages through to commercial manufacturing. Bora has the capability to do this for oral solid dose, liquid and semi solid drug formulations.
With this investment, Bora Pharmaceutical Services will be installing new equipment that will allow it to develop new medicines more quickly than was previously possible. This equipment hopes to help the company reinvigorate its pharmaceutical development capacity, expand the number and type of products it manufactures, support its small-scale manufacturing operation, and attract new manufacturing mandates. The equipment will be suitable for a wide range of existing and new oral solid dose treatments. The increased speed of product development and manufacturing capabilities provided by the new equipment will help in the development of new treatments for future pandemics and public health emergencies.
“Bora Pharmaceuticals is an important part of a growing life sciences ecosystem that supports thousands of good paying, high-skilled jobs in Mississauga and across the province,” said Nina Tangri, MPP for Mississauga—Streetsville. “With this important investment, our government is ensuring we have the capacity to manufacture treatments needed in a pandemic or public health emergency, right here in Ontario.”
“Bora is excited to partner with the Government of Ontario to make this key investment in Mississauga. With this new manufacturing capacity, Bora will have the ability to attract the most advanced therapeutics from leading global companies. This provides Mississauga, Ontario, and Canada with early access to the most advance drug discovery technologies in the world. The Ontario government’s support through OTF for the project is a strong signal of the province’s commitment to the pharmaceutical industry.” said Bobby Sheng, CEO, Bora Pharmaceuticals.