$37.5M SIF investment brings BioVectra expansion project to $144.6M

Charlottetown, PEI-based pharmaceutical manufacturer BioVectra Inc. announced a five-year, $144.6 million project to support its active pharmaceutical ingredients (APIs) production capacity and expand its biologics capabilities, including a $37.5 million contribution through the federal government's Strategic Innovation Fund. The project is anticipated to maintain 300 high-skilled, full-time jobs in Atlantic Canada and create 150 more, as well as providing over 25 students with on-the-job training and internship opportunities annually. BioVectra is a Contract Development and Manufacturing Organization (CDMO) serving most of the top 20 biopharmaceutical companies in the world. The company has invested approximately $25 million per year in expansions and technologies since 2015.