Radiopharmaceutical manufacturer AtomVie Global Radiopharma has announced it will spend more than $138 million to expand its facility in Hamilton.

The new facility would increase the company’s capacity to manufacture radiopharmaceuticals for targeted cancer therapies by a factor of 10, which creating 70 new jobs in the city.

“We are proud to make this significant investment in Ontario’s life sciences ecosystem,” said company CEO Bruno Paquin. “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.”

Radiopharmaceuticals are increasingly important in oncology, enabling targeted therapies that destroy cancer cells more precisely while avoiding healthy cells, leading to fewer side effects than traditional oncology treatments.

Global demand for these products is expected to exceed available supply, creating a critical need for reliable, scalable manufacturing capacity.

Founded as a spin-out of McMaster University’s Centre for Probe Development and Commercialization, AtomVie is the only Contract Development and Manufacturing Organization of this scale in Canada specializing in radiopharmaceuticals.

The company’s investment is being supported by a grant of $5 million from the Invest Ontario Fund.