Ontario Advancing Innovation in the Life Sciences
February 25, 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.
Quotes
“With Ontario’s health-care system facing growing demand and rapid technological change, there is a clear opportunity to adopt made-in-Ontario innovations that improve patient care and strengthen system resilience. Through investments that help companies scale their medical technologies, we are accelerating the adoption of innovative solutions that improve outcomes and support more timely, convenient care across the province.”
– Sylvia Jones
Deputy Premier and Minister of Health
“Waterloo Region continues to prove that we are a global leader in life sciences innovation. Through the Life Sciences Scale-Up Fund, our government is helping local companies like Intellijoint Surgical and Vena Medical grow and expand so that more patients can receive the latest in innovative treatments that are made right here at home.”
– Mike Harris
MPP for Kitchener-Conestoga
“We have world-class talent here in Waterloo Region, and companies like Intellijoint Surgical and Vena Medical are proof of that. When we help them scale here at home, we’re keeping high-quality jobs in our community and building the kind of health innovation capacity Ontario should be known for.”
– Jess Dixon
MPP for Kitchener South-Hespeler
“Kitchener is proud to be home to the greatest concentration of medtech and digital health scale-ups in the country. Organizations like the Medical Innovation Xchange (MIX) and innovative companies like Intellijoint Surgical and Vena Medical are shaping the future of Ontario’s economy. Investments like the Life Sciences Scale Up Fund ensure that groundbreaking ideas can be developed, commercialized, and scaled right here at home—strengthening our local economy while keeping Ontario globally competitive. Thank you to Premier Ford, Minister Fedeli and the Province of Ontario for their vision and partnership in supporting local and protecting Ontario’s economy.”
– Berry Vrbanovic
Mayor of Kitchener
“Today’s announcement is a major milestone for the provincial medtech ecosystem and a testament to the power of domestic scaling. By investing in companies like Intellijoint Surgical and Vena Medical through the Life Sciences Scale-Up Fund, the Ontario government is ensuring that the world-class innovations born in our backyard can actually grow, manufacture, and stay here in Ontario. MIX is proud to see this commitment to domestic capacity, which will ultimately get these life-saving, home-grown technologies into our health system faster to improve patient care across the province. MIX is proud to support them, and many more companies in their growth in Ontario.”
– Elliot Fung
Executive Director, Medical Innovation Xchange
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