Therapure Biopharma Receives $20M through AMF Canadian Government Loan
Mississauga, Ontario business Therapure Biopharma Inc. is an industry leader in manufacturing biologics for medical use. With an expertise in plasma-derived proteins, Therapure has created a novel technology called PlasmaCap Expanded Bed Adsorption (PlasmaCap EBA), which seeks to separate proteins faster and produce a greater yield from the same quantity of plasma used. This highly efficient technology is a revolution in the biologics industry and replaces a globally-used method, alcohol fractionation, which dates back to the 1940’s.
Therapure recently received a $20M Canadian government loan through Advanced Manufacturing Fund (AMF) to support further research, development, and commercialization initiatives around this technology.
PlasmaCap EBA Project Impact and Benefit
PlasmaCap EBA’s manufacturing process requires lower capital costs to create and maintain than outdated technologies. This is mainly attributed to the elimination of ethanol fractionation, a step traditionally required to separate proteins. This reduction will minimize the time and costs associated with this process. The solution is also scalable for smaller businesses looking to process plasma. PlasmaCap EBA enables processors to process plasma at room temperature (no cooling costs) with batches ranging from 50,000 litres and upwards. Previous methods required operations to be chilled and process upwards of 300,000-500,000 litres at a time.
The $20M in funding will help to continue developing the technology and its export to international markets.
Therapure formed as a business in 2008 and maintained 13 employees at the time. Since then, the team of biologics professionals has grown to over 200 employees. With the creation of PlasmaCap EBA technology and further enhancements to the facility, Therapure will be able to create another 91 highly skilled jobs at their Mississauga manufacturing plant.
Utilize AMF Canadian Government Loan for Manufacturing
Mentor Works assisted Therapure to receive this $20M in repayable government funding by supporting the qualification and application process. As the Canadian government funding experts, our knowledgeable team guides businesses to receive maximum funding amounts and expand capabilities through highly innovative projects. We have experience from working with Therapure and hundreds of other Canadian businesses to successfully position your company for government funding programs.
The Advanced Manufacturing Fund (AMF) provides repayable government funding to manufacturers who enhance productivity through the development of new, innovative technologies. AMF government funding provides projects a direct investment of $10-$20M to assist in the development of technology and enable the rapid commercialization of it. Provided by FedDev Ontario, AMF funding will cover up to 50% of eligible costs including internal labour, contractors, and technology adoption related directly to the project’s goals. Businesses must be established Ontario manufacturers who are in good financial standing to be considered for this program.
Resources for Canadian Small Business Manufacturers
Small businesses throughout Canada have the opportunity to receive funding for research and development projects such as PlasmaCap EBA. Some of the top programs in this area include IRAP Canadian government funding grants which provide $50,000 towards labour costs of businesses who are solving innovation challenges, and the Build in Canada Innovation Program (BCIP) first-procurement program which enables businesses and innovators to sell their technologies to the Canadian government.
Not sure which government grant or loan program is right for your business? Contact Mentor Works today and we’d be delighted to inform you of all opportunities currently available. In addition, we frequently hold free online workshops for manufacturers interested in exploring government funding grants. Also, you can receive the best in Canadian government funding news by following us on Twitter or subscribing to our weekly e-newsletter.