MISSISSAUGA, Ontario--(BUSINESS WIRE)--SPEC Labs Centre for Advancement of Biomedical Innovation, a leading innovator in scientific research and development, is thrilled to announce that it has secured a lease agreement to construct and operate a shared, multi-tenant wet lab facility at 2599 Speakman Drive in Mississauga, Ontario. This facility marks a significant milestone in advancing collaborative research and fostering innovation within the Ontario scientific community.
The Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), is investing $5 million in SPEC Labs to support the not-for-profit corporation’s efforts in creating this new wet lab facility. Located strategically in Mississauga, the facility will offer a cutting-edge environment for researchers, graduating startups, and established companies to conduct experiments and pursue groundbreaking discoveries.
“The Hamilton-Toronto corridor contains the largest life sciences community in Canada and has one of the largest clusters of life sciences companies in North America,” said the Honourable Filomena Tassi, Minister responsible for FedDev Ontario. “With this investment, SPEC Labs is helping to address a critical gap in this ecosystem by creating a dedicated wet lab space where companies can collaborate, grow their products, and thrive here in southern Ontario.”
SPEC Labs envisions this facility as a hub for cross-disciplinary collaboration, where scientists from various fields can converge to accelerate scientific innovation.
“We are excited to embark on this venture, creating a collaborative space that will fuel scientific discovery and technological advancements,” said Doris Qamar, CEO of SPEC Labs. “This facility will not only serve as a state-of-the-art research and development centre but also as a catalyst for fostering partnerships and knowledge exchange among the scientific community.”
Leading Ontario life sciences organizations celebrated the addition of much needed shared wet labs facilities for the sector.
“I applaud SPEC Labs’ commitment to increasing the inventory of wet lab space in Ontario,” said Dr. Maura Campbell, President and CEO of OBIO® and SPEC Labs Board member. “Our province is home to a burgeoning life sciences and biomanufacturing sector, but too many growing companies are forced to leave Ontario due to lack of lab space. Developments like the facility at Speakman Drive will enable our region to realize its potential as a hub for commercialization of the groundbreaking IP coming out of our universities and hospitals.”
“The establishment of this facility by SPEC Labs is a significant investment for Ontario’s life sciences ecosystem,” said Jason Field, President and CEO of Life Sciences Ontario. “The need for wet-lab space to enable innovative companies to grow and scale here in the GTA is acute. This investment will be a key catalyst as Ontario looks to solidify its position as a global leader in life sciences.”
Mississauga’s Director of Economic Development also expressed support for SPEC Labs and the establishment of the wet lab facility in the city. “We are delighted to welcome SPEC Labs to Mississauga. This investment will provide the essential resources and infrastructure needed by our scale-up and expanding life sciences businesses,” said Christina Kakaflikas. “By offering access to such specialized spaces, these businesses can continue to innovate and grow while taking full advantage of Mississauga’s skilled talent and connected ecosystem.”
The lease was also met with enthusiasm from the commercial real estate community who see SPEC Labs as a valuable addition to the local business landscape.
“We are pleased to welcome SPEC Labs to Slate Office REIT’s property at Speakman Drive, which offers a central and strategic location in Mississauga’s research and innovation hub,” said Andrew Broad, Vice President at Slate Asset Management. “Life sciences is a rapidly growing sector with strong tailwinds, and Slate Office REIT looks forward to providing SPEC Labs with high-quality space that will enable them to contribute to the growth and vibrancy of the scientific and business communities in Mississauga.”
Scott Mulligan, Broker of Record with CDNGlobal Toronto added, “The SPEC Labs model is greatly needed in the Canadian life sciences landscape. It fills a void for this sector and will be an integral part of growing the life sciences sector in the Canadian economy. It is a pleasure working with the very experienced executive team at SPEC Labs, and we are also proud to be a supporter.”
The construction and development of the wet lab facility have commenced, with an anticipated completion date in Q2 2025. SPEC Labs invites the scientific community, local businesses, and stakeholders to join them in celebrating this exciting development that promises to shape the future of scientific research and discovery.
About SPEC Labs Centre for Advancement of Biomedical Innovation:
SPEC Labs is a pioneering company at the forefront of scientific research and development. Committed to pushing the boundaries of innovation, SPEC Labs focuses on creating collaborative spaces and leveraging cutting-edge technologies to drive advancements in various scientific disciplines.
About FedDev Ontario:
For 14 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our investment profiles, our Southern Ontario Spotlight, and FedDev Ontario’s Twitter, Facebook, Instagram and LinkedIn.
