Hamilton attracts two new investments, bringing 150 jobs to the city
Published May 4, 2023 at 11:32 am
Two multimillion-dollar companies have now reached a deal to invest in Hamilton – opening up nearly 150 new jobs in the city.
Fusion Pharmaceuticals Inc., an oncology research company focused on developing radiopharmaceuticals as precision medicines, expanded its reach with the opening of its new manufacturing facility inside McMaster Innovation Park.
“Manufacturing and supply chain are critical components of radiopharmaceutical development and commercialization. Having spun out of a radiopharmaceutical manufacturer, this is a core competency for Fusion, and we believe we are well-positioned to scale production in support of our pipeline of TATs, which now includes five clinical-stage programs,” said Fusion CEO John Valliant in a news statement.
Dr. Valliant, who is also a McMaster chemistry professor, develops cancer therapy products, including medicines that seek out and infiltrate cancer cells to deliver doses of radiation only to infected locations in the body.
Dr. David Farrar, president of McMaster, feels that the partnership with Fusion is a step in the right direction
A radiochemist demonstrates Fusion’s radiopharmaceutical manufacturing capabilities| Fusion Press Release
“McMaster University is a pioneer in medical isotope research and the McMaster Innovation Park is the ideal location to produce the next generation radiopharmaceuticals for cancer therapy,” said David Farrar.
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According to the company, the new manufacturing facility is part of a 15-year lease agreement with Hamilton and is expected to produce more than 100,000 doses of targeted alpha therapies (TATs) yearly.
Mayor Andrea Horwath took to Twitter and expressed the need for this “critical investment” on Wednesday.
Hamilton is on its way to becoming a world leader in life sciences – and today @FusionPharmaInc and @McMasterU made a critical investment in this sector that will help save lives of patients through better cancer care, and bring more good jobs to the City. pic.twitter.com/GBXlvQhLqA
— Andrea Horwath (@AndreaHorwath) May 2, 2023
Horwath also spoke about UPS, the logistics powerhouse, bringing in its new 315,000-square-foot supply chain solutions facility on Glover Road in Hamilton. The new facility ‘broke ground’ on Wednesday and is expected to begin operations by the end of 2024.
insauga's Editorial Standards and Policies advertisingHamilton is becoming a logistics powerhouse – with multimillion dollar investments from @UPS proving our city is an effective and efficient place to do business. It was a joy to break ground — this facility is going to deliver more good jobs and more convenience for #HamOnt pic.twitter.com/6CMVjTx4Ob
— Andrea Horwath (@AndreaHorwath) May 3, 2023