AtomVie Global Radiopharma invests $138 million to scale radiopharmaceutical manufacturing in Ontario

Homegrown CDMO complements Ontario’s medical isotope manufacturing capacity to meet growing global demand for radiopharmaceuticals

HAMILTON, Ontario, December 3, 2025 – Invest Ontario is pleased to welcome a new expansion from AtomVie Global Radiopharma (AtomVie) in Hamilton, Ontario. The company is planning to invest over $138 million into a new state-of-the-art facility that would increase its capacity by at least 10-fold to manufacture radiopharmaceuticals for targeted cancer therapies, reinforcing the province’s leadership in this fast-growing industry.

Global demand for radiopharmaceuticals is expected to exceed available supply, creating a critical need for reliable, scalable manufacturing capacity. AtomVie is a global leading contract development and manufacturing organization (CDMO) with the scale and specialized expertise to deliver these products to the market, bringing more innovative, life-saving therapies to patients in Canada and around the world.

AtomVie’s multi-product, purpose-built manufacturing facility in Hamilton will manufacture radiopharmaceutical drug products and integrate seamlessly with Ontario’s strong radioisotope infrastructure, complementing the province’s capabilities and enabling support for both clinical trials and commercial radiopharmaceutical programs for global pharmaceutical companies.

We are proud to make this significant investment in Ontario’s life sciences ecosystem. With more than $138 million committed by AtomVie, this facility will expand access to high-quality radiopharmaceutical manufacturing and ensure that innovative therapies can reach patients who need them. Ontario’s strong nuclear medicine infrastructure and growing radiopharmaceutical community make it the ideal home for this next phase of growth.

Bruno Paquin

CEO of AtomVie

Our investment reflects AtomVie’s long-term commitment to global radiopharmaceutical supply and to Ontario as a centre of excellence. We are grateful for the proposed Invest Ontario grant, which complement our financing. Together, these resources will help accelerate construction, create high-quality jobs, and enhance Canada’s competitiveness and leadership in this rapidly growing sector.

Patrick Lim

CFO of AtomVie

Radiopharmaceuticals are a rapidly advancing field in medicine, particularly radiotherapeutics used in oncology. These targeted radioactive drugs destroy cancer cells with precision, offering the potential for more effective treatment with fewer side effects compared to traditional radiation therapy.

AtomVie’s investment is terrific news for Hamilton workers and strengthens Ontario’s position as a global leader in the production and delivery of radiopharmaceuticals. With global demand for targeted therapies set to ramp up in the years ahead, AtomVie’s expanded Hamilton facility adds a critical link to our province’s life sciences supply chain and ensures that the production and research of life-saving medical treatments happen right here in Ontario.

Hon. Vic Fedeli

Minister of Economic Development, Job Creation and Trade

Canada possesses one of the world’s most complete medical isotope supply chains spanning production, processing and delivery — the majority of which is located in Ontario. Combined with a concentration of radiopharmaceutical expertise anchored by leading companies and institutions across Hamilton, London, Toronto and Eastern Ontario, the province is uniquely positioned to support the continued growth of this emerging field.

Ontario is also home to world-class universities, colleges and hospitals that provide a strong pipeline of highly skilled talent and opportunities for innovative research and clinical collaboration.

The investment is expected to create 70 new high-quality jobs. Subject to reaching a definitive agreement, it will be supported with a grant of up to $5 million through the Invest Ontario Fund.

It’s always exciting to support projects that will make a meaningful impact, especially those that have the potential to improve and save lives. We’re proud to work with a homegrown leader in this strategic expansion, which would strengthen Ontario’s role as a reliable supply-chain partner in the growing global market for radiotherapeutics.

Khawar Nasim

CEO of Invest Ontario

Invest Ontario continues to work with companies advancing the province’s Life Sciences Strategy by growing critical manufacturing capacity, strengthening R&D capabilities and fostering the partnerships needed to establish Ontario as a global biomanufacturing and life sciences hub.

For more information about Invest Ontario, please visit www.investontario.ca.