A company in Mississauga is receiving support from the province to enhance health technology and generate new job opportunities.
Ontario has announced funding for health tech companies through the Life Sciences Scale-Up Fund.
Baylis Medical Technologies, based in Mississauga and a top manufacturer of medical devices for interventional neurology and radiology, is among 11 firms getting this funding, as stated today by Vic Fedeli, Minister of Economic Development, Job Creation and Trade.
Baylis plans to invest $13.1 million to push forward the development of an innovative neurovascular access platform, along with technologies aimed at helping patients with chronic vessel blockages, including those who risk losing limbs.
This initiative will lead to the creation of 25 new high-skilled positions while also supporting 190 current jobs with $2.5 million in provincial funding.
The financial aid will speed up the introduction of the neurovascular access platform, which aims to enhance brain access for critical neurovascular procedures while boosting 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 expressed her enthusiasm about the announcement.
“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, according to provincial sources.
“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 alongside the government’s Health Innovation Pathway to advance Phase 2 objectives of Ontario’s Life Sciences Strategy while strengthening Ontario’s position as a global leader in health innovation.
Lead photo: Pavel Danilyuk
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