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TRIUMF Innovations and CPDC lead $35M funding success to establish Canadian Medical Isotope Ecosystem

28 June 2023

TRIUMF Innovations and the Centre for Probe Development and Commercialization (CPDC) have announced a major $35M funding success for the establishment of the Canadian Medical Isotope Ecosystem (CMIE), which will support the development, production, and distribution of medical isotopes used in the fight against cancer and in diagnostic imaging. 

Over the term of the funding, CMIE is expected to launch three high-demand medical isotopes and related drug products into the marketplace. It will also advance two medical isotopes from early stage to pre-clinical evaluation. CMIE is expected to attract more than $75 million in investment, create or maintain over 600 highly skilled jobs for Canadians, and create 30 internship opportunities. 

The $35 million in funding will be delivered through Innovation, Science and Economic Development’s Strategic Innovation Fund, which provides major investments in innovative projects that help grow Canada's economy for the well-being of all Canadians. 

“Each year, medical isotopes are used in more than 40 million procedures globally and demand is increasing worldwide. CMIE will encourage the domestic production of medical isotopes, an important component used in the healthcare sector for medical diagnoses and therapies, including cancer and heart diseases,” said Kathryn Hayashi, President & CEO, TRIUMF Innovations. “With TRIUMF Innovations’ focus on commercialization, we are pleased with this new level of support for medical isotope commercialization from Minister Champagne and the Canadian government.”  

Read the press full release here and the Government of Canada’s release here.