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Conavi Medical announces agreement with the Province of Ontario as part of the Life Sciences Scale-Up Fund
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Published in Science and Technology on Wednesday, October 29th 2025 at 7:31 GMT by Toronto Star🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
A win for both sides
The deal sees Conavi Medical committing to a new research and development centre in the Greater Toronto Area, as well as a production facility that will employ up to 120 staff in the next two years. According to the release, the Province will provide a combined CAD $12 million in grant funding and tax incentives to support the project, including an additional CAD $5 million from the Ontario Innovation Fund for technology commercialization.
Conavi CEO Mark Smith said, “Partnering with the Province of Ontario is a pivotal step in our journey to bring transformative medical solutions to patients worldwide. The investment in a world‑class R&D hub will allow us to advance our portfolio of neuro‑vascular and orthopedic devices and, at the same time, contribute to the growth of Ontario’s life‑science community.”
Ontario Health Minister Dr. Andrew Coyne welcomed the partnership, noting that it aligns with the province’s Life Sciences Strategy that aims to double the size of the sector by 2030. “Conavi’s commitment to investing in Ontario demonstrates the confidence Canadian companies have in our innovation ecosystem,” Coyne said. “This partnership will create skilled jobs, foster knowledge exchange, and help bring groundbreaking therapies from the lab to the clinic.”
Focus on neuro‑vascular and orthopedic solutions
Conavi’s product portfolio is anchored by its proprietary “NeuroMax” neuro‑vascular stent platform, which has already been cleared by Health Canada and is gaining traction in the U.S. market. The new Toronto‑based R&D hub will concentrate on further refining this platform, exploring expanded indications for spinal cord injury and stroke treatment, and developing complementary delivery systems.
In addition, Conavi’s “OrthioFit” line of patient‑specific orthopedic implants, which uses 3‑D printing to create custom plates and screws for complex fractures, will receive a dedicated manufacturing line within the new facility. The company plans to leverage Ontario’s advanced manufacturing capabilities and a skilled workforce to scale production and bring the implants to market faster.
Supporting Ontario’s life‑science infrastructure
The press release highlighted that Conavi’s investment will dovetail with Ontario’s existing life‑science initiatives, such as the Ontario Research and Innovation Fund and the Life Sciences Innovation Hub in Toronto. By collaborating with local universities and research institutes, Conavi intends to create a talent pipeline and facilitate clinical trials in partnership with the Ontario Health Technology Assessment (HTA) framework.
Conavi’s spokesperson also mentioned that the company will participate in the province’s “Health Tech Accelerator” programme, which connects early‑stage companies with investors, regulatory experts, and clinical partners. This engagement is expected to accelerate product development timelines and streamline the regulatory approval process.
Economic impact and job creation
According to the Globe Newswire release, the new Conavi facility is projected to create approximately 80 direct jobs in engineering, manufacturing, and quality control, plus an additional 40 indirect jobs in supply chain and logistics. The partnership is expected to generate an estimated CAD $50 million in annual economic activity by 2027, positioning Conavi as a key contributor to Ontario’s health‑tech sector.
The province’s economic development office, which issued a separate statement, underscored that the partnership demonstrates the effectiveness of Ontario’s policy framework in attracting high‑value, technology‑driven investment. “This collaboration reinforces Ontario’s reputation as a global hub for life‑science innovation,” the office said.
Looking ahead
Conavi Medical’s agreement with the Province of Ontario is the latest example of a Canadian company aligning its growth strategy with regional innovation policies. By combining Conavi’s technical expertise with Ontario’s supportive ecosystem, the partnership aims to accelerate the development of life‑saving therapies, expand the province’s manufacturing footprint, and deliver high‑skill jobs for residents.
Industry analysts note that such collaborations could become increasingly common as life‑science companies seek to capitalize on public‑private partnerships that provide both financial support and access to world‑class research infrastructure. For Conavi, the partnership signals a commitment to both commercial growth and the broader mission of improving patient outcomes through advanced medical technology.
In the coming months, Conavi will begin site selection and facility design for the Toronto hub, while the Province will finalize the grant and incentive package. If all goes according to plan, the first phase of the facility could be operational by late 2025, with full production capacity reached in 2027.
Read the Full Toronto Star Article at:
[ https://www.thestar.com/globenewswire/conavi-medical-announces-agreement-with-the-province-of-ontario-as-part-of-the-life-sciences/article_2920bf3e-613b-58e7-b32e-e63e290c9d17.html ]
