Anchored by MaRS in the Toronto Discovery District, ‘Pill Hill’ in Mississauga and McMaster Innovation Park (MIP) in Hamilton, the Ontario Life Sciences Corridor is home to not only the largest life sciences sector in Canada it is also one of the largest life sciences clusters in North America.
The Corridor itself is comprised of a number of satellite clusters including biotech research and development in Toronto’s Discovery District, Big Pharma in Mississauga, GMP manufacturing and radiopharmaceuticals at MIP in Hamilton, a vibrant medtech hub anchored by Velocity in Waterloo Region and growing startup hubs in London to the west, Sudbury to the north and Kingston and Ottawa to the east.
The success and growth of the Life Sciences sector in Ontario is also driven in no small part by the presence of some of Canada’s top academic research hospitals and research networks including London Health Sciences (LHS) in London, Hamilton Health Sciences (HHS) in Hamilton and the University Health Network (UHN), Unity Health, the Hospital for Sick Children and Sunnybrook Health Sciences Centre in Toronto.
One ingredient lacking in the Corridor regardless of location is wet lab space for lease. While there are a number of projects planned and/or under construction in Toronto, Mississauga and Hamilton, with a few exceptions and occasional off-market opportunities of which our team is made aware, the current lack of lab space is expected to remain largely unchanged until the end of 2023. However, because of our focus on life sciences we are typically called first about off-market options that are coming available.