Etobicoke Project Reinforces Ontario’s Leadership in Cancer Treatment
–The Ontario government is celebrating a $22 million investment by Kinectrics Inc., a Toronto-based leader in the nuclear power and medical industries, to bolster the production of enriched medical isotopes critical for cancer treatments. This initiative will create 15 well-paying jobs at Kinectrics’ state-of-the-art facility and reinforce Ontario’s position as a global innovator in nuclear medicine.
“Kinectrics’ investment exemplifies how our government is cultivating the conditions necessary for life sciences innovation to flourish,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Through our Regional Development Program, we are proud to support this groundbreaking initiative, which advances medical isotope production, strengthens Ontario’s role as a global leader in medical innovation, and creates good-paying jobs.”
Kinectrics, employing over 1,300 skilled professionals, is enhancing its capacity to manufacture medical isotopes essential in treating various cancers, including prostate and neuroendocrine tumors. Currently, Russia dominates the global isotope market, but this investment diversifies and stabilizes a critical supply chain, showcasing Ontario’s life sciences leadership.
David Harris, President and CEO of Kinectrics, highlighted the achievement:
“The successful completion of our Stable Isotope Production Facility marks a significant advancement in meeting the growing demand for ytterbium-176. By expanding production through 2025, we are committed to enhancing the global radiopharmaceutical supply chain and ensuring cancer patients worldwide receive the life-saving treatments they deserve.”
To support this transformative project, Ontario is providing $1.5 million in funding through the Advanced Manufacturing and Innovation Competitiveness (AMIC) stream of the Regional Development Program (RDP). Since its inception, the AMIC stream has supported advanced manufacturers, welcoming over $470 million in investments and creating more than 1,000 jobs across Ontario.
Quick Facts
- Launched in 2019, Ontario’s Regional Development Program supports businesses and municipalities in eastern and southwestern Ontario with financial assistance and services.
- In 2022, the AMIC stream was introduced to enhance competitiveness and strengthen supply chains in advanced manufacturing.
- Ontario’s Life Sciences Strategy, launched in 2024, solidifies the province’s leadership in biomanufacturing and healthcare innovation.
- The province and Bruce Power recently announced a new hot cell facility in Bruce County to support domestic processing of lutetium-177, a key medical isotope.
“Expanding access to life-saving treatments is a priority for our government. Kinectrics’ investment in medical isotope production highlights Ontario-made innovation and ensures patients can access world-class care when they need it most.”
— Sylvia Jones, Deputy Premier and Minister of Health
“With over 247,000 Canadians diagnosed with cancer each year, including my own family members, this project showcases Ontario’s leadership in nuclear medicine. We are proud to support Kinectrics’ $22.5 million investment, a transformative step in cancer care innovation.”
— Stephen Lecce, Minister of Energy and Electrification