The province of Nova Scotia is providing new funding to Life Sciences Nova Scotia, the industry association that supports life sciences companies. The $1.4 million contribution through the province’s Community Economic Development Fund will support the association’s work in helping companies, and create opportunities for professionals to develop their skills, the group said in a press release.

The life sciences sector encompasses natural sciences and includes pharmaceuticals, natural health products, animal health, medical technologies, digital health and more.

“This CEDF funding is a game-changer for life sciences companies in our province. It reflects the growing recognition of Nova Scotia's potential as a hub for biotech innovation,” said Gabrielle Masone, CEO of Coloursmith., a company which is developing advanced optical  filters for contact lenses and eyeglasses,

“For startups like Coloursmith, early-stage funding is crucial in turning groundbreaking ideas into market-ready solutions," Masone said. "It's not just about the financial support; it's about fostering an ecosystem where innovative companies can thrive and contribute to Nova Scotia's economic growth.”

Life Sciences NS aims to increase the number of life sciences companies and employees, average salaries, and sector GDP over the next five years. The provincial funding will help provide access to accelerators and incubators, as well as support regional entrepreneurship and connections with Nova Scotia Health, the Nova Scotia Health Innovation Hub, and the agri-food industry, the group said.