Drugmaker gets $4M in federal cash as London's life sciences sector grows

A London drugmaker will add cutting-edge technology and boost production for the Canadian market with federal help.

Published Jul 12, 2023 • Last updated Jul 13, 2023 • 1 minute read

Kapil Lakhotia, chief executive of the London Economic Development Corp., left, and Mayor Josh Morgan are shown in this LFP file photo.

A London drugmaker will add cutting-edge technology and boost production for the Canadian market with help from the federal government.

Anvo Laboratories is building a 62,000-square-foot (5,760-square-metre) plant that will employ more than 30 when it opens in 2024. It received $4 million from FedDev Ontario Wednesday to make the plant state of the art, said the company’s vice-president.

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“It’s a great day. We need support. This is a family business and we’re not taking investors. It’s very, very important,” said Mukesh Sareen. “This is not a normal manufacturing process. It’s high technology, it’s difficult to manufacture. We’re doing research and development.”

Drugs made at the plant will treat gastrointestinal, cardiovascular, diabetic and neurological disorders, he added.

Anova Pharma is building a 62,000 sq.ft. Building in London, in the Advanced Manufacturing Park that will employ 45 worker making tablets and capsules. #ldnews
— Norman De Bono (@NormatLFPress) July 12, 2023

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“The money announced today is testament to the growth of the life sciences industry here,” said Kapil Lakhotia, chief executive of London Economic Development Corp. (LEDC).

In addition to Anvo, Lakhotia pointed to Medicom, a Quebec-based health-care manufacturer building a $120-million plant in London that will employ about 145 when it opens next year, as a sign of growth in the city’s life sciences sector.

“We are also working closely with Research Western on commercializing new medical technology,” Lakhotia added.

Anvo, building in the Advanced Manufacturing Park at Veterans Memorial Parkway and Bradley Avenue, has offices in Vietnam and Oakville. The London plant will be its first foray into drug manufacturing.

FedDev Ontario, the federal agency supporting industry, will give London pharmaceutical business Anvo Pharma, $4million to assist in drug manufacturing. #ldnews
— Norman De Bono (@NormatLFPress) July 12, 2023

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“With this investment, Anvo can accelerate its production, manufacturing and distribution to provide high-quality, affordable medication,” Filomena Tassi, minister for FedDev Ontario, said at the Grove agri-food incubator in London Wednesday.

Since 2015, FedDev has invested $240 million in 45 projects in southern Ontario all with a health-care focus, added Peter Fragiskatos, Liberal MP for London North Centre.

“There has been an ongoing call for domestic production when it comes to pharmaceuticals,” he said.

ndebono@postmedia.com

Twitter.com/NormatLFPress

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