Top Ontario biotech companies to watch in 2023

Highlighting some of the cutting-edge companies in Ontario’s thriving biotechnology sector

As the home to top biotechnology researchers, developers and manufacturers, Ontario has a booming industry doing cutting-edge work at the cross-section of life sciences and digital technology. Whether by conducting breakthrough research, developing life-changing therapies or streamlining manufacturing processes, these companies are making a global impact on health and wellness while capitalizing on Ontario’s world-class talent and innovation.

Life sciences companies in Ontario have expertise spanning several subsectors and do meaningful work in many areas of the medical, health and digital tech fields.

Here are just a few of the many promising life sciences companies doing important work in biotechnology in Ontario.

You can also explore InvestOntario.ca to find out more about Ontario’s vibrant pharmaceutical, medtech and overarching life sciences sectors.

Cyclica (recently acquired by Recursion)

Toronto, Ontario

Founded in 2013 and recently acquired by Recursion, Cyclica specialized in AI and data-driven drug discovery. In addition to forming multiple collaborations and advancing its drug discovery portfolio, the company has built two highly differentiated products in the digital chemistry space which will be integrated into the Recursion Platform. MatchMaker is an AI-enabled deep learning engine that predicts the polypharmacology of small molecules as the foundation for small molecule drug discovery. POEM (Pareto Optimal Embedding Model) is a unique similarity-based property prediction model. In contrast to other AI prediction models, POEM uses multiple types of molecular fingerprints to describe molecules, providing a much richer measure of similarity that leads to greater accuracy.

Deep Genomics

Toronto, Ontario

Deep Genomics is a biopharmaceutical company that aims to combine artificial intelligence (AI) and RNA biology (one of the most influential areas in biomedicine today) to create better treatments for genetic diseases. Its AI Workbench is a game-changer for Deep Genomics in its pursuit to rapidly discover and produce highly successful genetic medicines. Founded in 2015, Deep Genomics’ diverse team includes those from a traditional drug company and experts with backgrounds in machine learning, laboratory automation and software engineering.

Microbix Biosystems

Mississauga, Ontario

Microbix manufactures innovative, proprietary, and branded in vitro diagnostic (IVD) medical devices, such as its Quality Assessment and Proficiency (QAPs) line of test controls that help ensure the accuracy of many companies’ different diagnostic tests and its DxTM viral transport medium to stabilize patient samples for lab-based testing. Also, it makes a wide range of high-quality biological ingredients (native antigens) that enable the industrial-scale production of diagnostic tests for infectious diseases. Microbix sells its medical devices and test ingredients to over 100 leading diagnostics companies and has distribution into over 30 countries. Based in Mississauga, Ontario, Microbix has over 100 employees, is ISO 9001 and 13485 accredited, and is listed on the Toronto Stock Exchange.

OmniaBio

Hamilton, Ontario

OmniaBio, a subsidiary of Toronto-based CCRM, is a contract development and manufacturing organization (CDMO) focused on supporting a broad range of cell and gene therapy companies, from early development to commercial manufacturing. At a planned 400,000 square feet, the OmniaBio facility will be Canada’s largest CDMO exclusively dedicated to cell and gene therapies. OmniaBio will provide commercial-scale manufacturing in Ontario, allowing homegrown companies to commercialize their work domestically while advancing pioneering medicine with the potential to cure many forms of cancer, cardiovascular diseases, Parkinson’s and diabetes.

ProteinQure

Toronto, Ontario

Founded in 2017 in Toronto, Ontario, ProteinQure uses its computational platform to accelerate and optimize the development of protein-based drugs. Its platform uses molecular simulations and machine learning to design completely novel therapeutics, requiring less reliance on data. ProteinQure collaborates with industry leaders on novel treatments for cancer, diabetes and other diseases, its platform enabling world-leading drug discovery companies to create proteins that would otherwise be impossible to discover.

Roche

Mississauga, Ontario

With 88,000 employees in over 150 countries, Roche is the world’s largest biotechnology company and a leader in pharmaceuticals, in vitro diagnostics and health care technology. Roche’s innovations span major disease areas, including oncology, infectious diseases and diabetes, and it continues to expand its expertise in new fields such as artificial intelligence and real-world data. Roche has operated in Canada since 1931, employing over 1,800 people across divisions in Laval, Quebec and Mississauga, Ontario.

Sanofi

Toronto, Ontario

Sanofi is an innovative global health care company, driven by one purpose: to chase the miracles of science to improve people’s lives. With strong foundations in Canada going back over a century, the company is one of the country’s top life sciences investors and its largest vaccine producer. In 2022, Sanofi opened an Artificial Intelligence Centre of Excellence in Toronto, joining its network of existing digital hubs. The Centre uses leading technologies to develop world-class data and AI products that accelerate research and development to improve patient access to life-saving medicine.

Triumvira Immunologics

Hamilton, Ontario

Triumvira Immunologics is an immunotherapy company dedicated to helping millions of patients defeat difficult-to-treat solid tumours by developing new T-cell therapies that work better than current cancer treatments. Triumvira’s proprietary T-cell Antigen Coupler (TAC) platform activates natural T-cell functions differently from other cell therapies and has the potential to help develop therapies for a broader range of patients with cancer. Founded in 2015, the company is headquartered in Austin, Texas, with research facilities in Hamilton, Ontario and a manufacturing suite in South San Francisco, California.

Verv Technologies

Greater Sudbury, Ontario

Verv is now finalizing development of the first affordable, high-quality blood analyzer and disposable test chips that will measure a wide range of analytes such as cholesterol, vitamin levels and hormones. Health care consumers will be able to know their number from a few drops of blood, in about 10 minutes. They’ll have a better view of their health and Verv will wrap clinical and education support around it through partnerships, so they can take action. Verv’s technology can transform access to blood testing and data trending for consumers and improve timely decision-making with physicians. Verv aims to empower people to take control of their health.

Virica Biotech

Ottawa, Ontario

Virica Biotech is a biotech service provider dedicated to positively changing human health by increasing the production efficiency of emerging viral-based therapies. Virica’s breakthrough Viral Sensitizers (VSE) are small molecules that reduce anti-viral defences in cells, increasing manufacturing yields and therapeutic efficacy for a range of products, including vaccines, cell therapies and gene therapies. VSEs remove barriers to manufacturing viral medicines economically at scale, while custom VSE formulations improve research processes and production. Virica was founded in 2018 and is based in Ottawa, Ontario.