Bruce Power will be ramping up production of medical isotopes over the next decade, as part of a new federal investment in the biomanufacturing and life sciences sector.
At the company's visitor centre this afternoon, Pam Damoff, Parliamentary Secretary to the Minister of Public Safety, announced the launch of the new Canadian Medical Isotope Ecosystem. As part of the launch, the federal government pledged $35 million in support over a five-year period to help the development, production, advancement and distribution of medical isotopes.
"This investment will not only grow the economy—as the Ecosystem is expected to attract over $75 million in investment and create or maintain over 600 highly skilled, well-paying jobs—but also contribute to the economic reconciliation with the Saugeen Ojibway Nation (SON),” said Damoff, who presented on behalf of François-Philippe Champagne, Minister of Innovation.
Medical isotopes are used in the health care sector for sterilization, diagnoses and therapies, including cancer and heart diseases.
As part of the funding announcement, Bruce Power and SON say they will take the next step in their partnership to jointly produce, advance, and market new isotopes in support of the global fight against cancer, while also working together to create new economic opportunities within the SON territory.
CEO Mike Rencheck says they're set up to produce isotopes around the clock, all year long. Over the next decade, they'll outfit all of their reactors with Isotope Production Systems and they're currently working with partners to develop new ones.
"We're working on another six to nine isotopes, so as that becomes a reality in terms of determination of whether we can make it or not and the type of cancer treatment that's associated with, we'll advance that at that time," he said. "The next isotope we're working on as an example is Yttrium-90, which is a liver cancer treatment. We have an MOU signed with Boston Scientific... and hopefully that pans out and we'll be in production with that treatment next."
The federal government is aiming to double Canada's medical isotope production by 2030.
