Toronto, ON – The Health Technology Exchange (HTX) has announced an agreement to establish GE’s first global Pathology Imaging Centre of Excellence in Toronto. GE Healthcare and its digital pathology joint venture, OmnyxTM, will provide $7.75M along with a $2.25M grant from HTX. Planned collaborative research and development partnerships will bring an additional $7.2M, for a total funding of $17.2M over the next three years.
This is the first project to be supported by HTX under the Ontario Flagship Program, which is designed to attract and anchor multinational-led advanced-stage product development projects in Ontario. In addition to HTX’s incentive funding, GE was attracted by Ontario’s outstanding imaging R&D assets and infrastructure to support design, development, validation, and deployment for anchoring a global digital pathology (DP) initiative. The centre will advance both the technology and adoption of DP solutions, for pathologists world-wide.
HTX is a partner in the Ontario government’s Life Sciences Commercialization Strategy. The organization’s programs are supported with $21.4 million in funding from the government’s Ministry of Research and Innovation. The purpose of the program is to strengthen Ontario’s medtech cluster by providing early stage company financing, and incentives for multinationals to strengthen their business cases for anchoring global development mandates in Ontario.
John Soloninka, HTX President & CEO, observed: “The centre is a perfect example of how HTX funding can facilitate medtech investment and job growth in Ontario. There is an incredible opportunity for Ontario to support the transformation of pathology with the global leader in this emerging field.”