Ontario Advancing Innovation in the Life Sciences

February 26, 2026

Life Sciences Scale-Up Fund will help two companies in the Kitchener area support 59 jobs, unlock new market opportunities and strengthen the sector’s competitiveness

The Ontario government is supporting $5.8 million in investments by two Kitchener-based medical technology companies as they expand production capacity, scale globally and commercialize their Ontario-made health technologies in the provincial and global markets. This announcement marks the first round of funding under the government’s Life Sciences Scale-Up Fund (LSSUF), and will support the goals outlined in Phase 2 of Ontario’s Life Sciences Strategy, while working in tandem with the Health Innovation Pathway to support the adoption of innovation in the health-care system.

“Ontario has a long and proud history of advancing the research and development of cutting-edge breakthroughs and life-saving technologies that have had a significant impact on patient care both domestically and internationally,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Through the Life Sciences Scale-Up Fund, our government is making sure Ontario-based entrepreneurs are equipped with the tools they need to grow their operations, scale globally and remain competitive in the age of innovation.”

Intellijoint Surgical Inc. is a leading provider of orthopaedic medical technologies, supporting more than 80,000 hip and knee joint replacements globally. With an investment of $1.3 million, Intellijoint will leverage AI and automation technologies to enhance sales, streamline organizational workflows and increase production capabilities. The project is supported by nearly $450,000 in funding through the LSSUF and will support 34 existing positions, while creating three new high-skilled jobs.

“Intellijoint is a proudly Canadian medtech company competing on the global stage,” said Armen Bakirtzian, Co-founder and CEO of Intellijoint Surgical. “Programs like LSSUF and the Health Innovation Pathway are critical to helping domestic companies like ours scale at home while expanding internationally. This funding strengthens Intellijoint’s ability to innovate, create high-quality jobs in Kitchener, and build a globally competitive business. We thank the Ontario government for its continued support of the domestic medtech sector.”

Vena Medical is a manufacturer of intravascular imaging devices used by physicians to support stroke interventions and real-time diagnostic imaging. With a $4.5 million investment, the company will establish a new, state-of-the-art facility that will reshore the production of their AI-powered micro-camera to Kitchener and advance their commitment to strengthening Ontario’s domestic manufacturing ecosystem. The project is supported by nearly $1.5 million in funding through the LSSUF and will support nine existing positions, while creating 13 new high-skilled jobs.

“Our team has engineered a highly complex, microscopic medical device, and now we have the state-of-the-art cleanroom and manufacturing infrastructure to build it at scale,” said Phillip Cooper, Co-founder and COO, Vena Medical. “With the backing of the LSSUF, we are scaling our manufacturing right here in Kitchener. We are ready to take this Kitchener-Waterloo-born innovation to the rest of the world.”

The $24 million LSSUF is part of the government’s $201 million commitment to drive innovation, attract investment and strengthen Ontario’s leadership in biomanufacturing and health sciences. By helping small and medium-sized Ontario companies scale operations, commercialize their health innovations and build domestic manufacturing capacity, the government is strengthening Ontario’s leadership in the life sciences and advancing next-generation technologies across the health-care supply chain.

Quick Facts

  • Ontario’s life sciences sector employs more than 74,000 people in good-paying jobs across close to 2,000 companies, with annual exports exceeding $11.8 billion.
  • Since 2018, Ontario has attracted over $6 billion in life sciences investments.
  • The LSSUF acts in tandem with the Health Innovation Pathway to help Ontario innovators bring solutions to the provincial health-care system faster.
  • Every year, more than 86,000 STEM students graduate from post-secondary programs across the province, producing one of the most highly skilled life sciences workforces in the world.
  • In April 2025, the government announced an investment of $750 million to expand enrollment in STEM programs at colleges and universities by up to 20,500 seats per year.