Atomvie Global Radiopharma, a leading producer of radiopharmaceuticals, has announced the expansion of its operations in Hamilton, Ontario, Canada. The expansion is expected to create over 100 new jobs in the region.
The expansion will involve the construction of a new manufacturing facility and the installation of state-of-the-art equipment to produce high-quality radiopharmaceuticals for the diagnosis and treatment of various diseases, including cancer. The new facility will also house research and development laboratories for the development of new radiopharmaceutical products.
The decision to expand in Hamilton was driven by several factors, including the city’s strategic location, skilled workforce, and supportive business environment. Atomvie Global Radiopharma is committed to investing in the region and contributing to the local economy. AtomVie is a spinout from the CPDC (Centre for Probe Development and Commercialization, a McMaster Centre of Excellence) located at McMaster University and is now scaling to meet growing demand for the production of radiotherapeutics and medical isotopes. The market for radiopharmaceuticals is expected to reach USD 15.8 billion by 2026, according to a report by MarketsandMarkets.
The expansion is expected to be completed in the next two years, and the company will work closely with the local government to ensure a smooth transition and successful launch of the new facility. The company’s growth in Hamilton is a testament to the region’s strength in the life sciences industry and its potential to attract leading companies in the field.
The new facility will not only create jobs but also enhance the region’s capabilities in the development and production of innovative radiopharmaceuticals. This will ultimately benefit patients by providing them with better access to advanced diagnostic and therapeutic options for various diseases.
The expansion of Atomvie Global Radiopharma in Hamilton is a significant development for the region and the life sciences industry. The company’s investment in the region will create jobs and contribute to the local economy, while also advancing the development of innovative radiopharmaceuticals for the benefit of patients worldwide.
To learn more about business expansion and relocation to Hamilton Ontario please visit investinhamilton.ca for more information.