Ontario fund helps health technology company add 25 new jobs in Mississauga

A Mississauga company is getting a boost from the province to support new health technology and create jobs.

Ontario announced funding for health technology companies through the Life Sciences Scale-Up Fund.

Mississauga’s Baylis Medical Technologies, a leading manufacturer of medical devices for the interventional neurology and radiology sectors, is one of 11 companies receiving funding, Vic Fedeli, Minister of Economic Development, Job Creation and Trade, announced today.

Baylis will invest $13.1 million to advance the development of an innovative neurovascular access platform, as well as technologies that enable interventions for patients with chronic vessel occlusions, including those at risk of limb amputation.

The company will create 25 new high-skilled jobs and support 190 existing positions with $2.5 million in provincial funding.

The funds will accelerate the launch of the neurovascular access platform, which will help improve brain access for life-saving neurovascular interventions, while expanding advanced manufacturing in Mississauga, said Laura Conquergood, CEO of Baylis Medical Technologies.

“We are proud to develop and commercialize world-class medical technologies in Ontario and are grateful for the Ontario government’s continued support,” Conquergood said.

Mississauga Mayor Carolyn Parrish welcomed the news.

“The life sciences are an integral pillar of Mississauga’s dynamic economy,” said Parrish. “This provincial funding will assist innovators like Baylis Medical Technologies to advance research efforts and deepen their connection to our city. Mississauga is home to the second largest life sciences sector in Canada. This investment in companies like Baylis is helping create great jobs and attract even more private investment.”

The 2026 Ontario Budget included an additional $24 million to support Ontario companies whose work will accelerate the adoption of innovative technologies into the healthcare system and support the province’s broader vision to provide connected, convenient care closer to home.

Applications for round two of the fund opened today and will be accepted until Aug. 3, 2026.

With the first round of funding now fully deployed, the LSSUF program has officially leveraged nearly $75 million in investment, supporting over 1,000 good-paying jobs across 14 projects, the province said.

“Ontario’s life sciences sector plays a critical role in supporting the discovery and development of innovative medicines and technologies, which is why our government is proud to support local companies as they take their Ontario-made products to the next level,” said Fedeli.

First launched in 2024, the $24 million LSSUF works in tandem with the government’s Health Innovation Pathway to advance the objectives of Phase 2 of Ontario’s Life Sciences Strategy and strengthen Ontario’s position as a global leader in health innovation.

Lead photo: Pavel Danilyuk