ORONTO, Canada--Ontario, Canada is helping Novocol Pharmaceuticals of Canada expand and modernize the company's Cambridge facility.
The expansion and modernization includes converting an outdated production line into an R&D centre. The project will help the company diversify and develop new infection-control products, increasing the global company’s competitiveness.
In total, Novocol is investing more than $54 million in this project in the next five years. This includes a loan of $10 million from the Ontario government.
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Novocol Pharmaceutical and its affiliated owner, Septodont SAS of France, are leaders in the production of dental anaesthetic cartridges. Novocol controls a large portion of the U.S. market, through its brands, or the manufacture of other brands, and private label products.
“Ontario is pleased to support companies like Novocol with investments toward the types of innovation and R&D initiatives guaranteed to bring jobs to our communities and strengthen Ontario’s economy," said Brad Duguid, Minister of Economic Development and Innovation.
"With 41,500 Ontarians working in the life sciences industry, it plays an important role in the province’s economy.”
Added Kent Chiu, president of Septodont North America: “We are extremely proud of the fact that Novocol is a world leader in manufacturing of dental injectable products here in Cambridge, Ontario, and in our skilled workforce that has helped build our 100 year history in the industry. On the highly competitive global stage, modernization is no longer an option used for getting ahead of the competition; it’s an essential just to stay in business. Ontario’s support to help us invest in advanced R&D and innovation is what it takes to get us to the next level and to help create local jobs and give back to the community that has helped make this company such a success.”
For more information, go to www.ontariocanada.com/ontcan/1medt/en/progserv_main_en.jsp.
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