Omniactive Receives Grant From Canadian Government Agency

24 July 2013 --- OmniActive Health Technologies’ advanced research and development center —located in Charlottetown, Prince Edward Island (PEI), Canada — has been recognized for its contribution to innovation with a generous grant by the Atlantic Canada Opportunities Agency (ACOA).

The Government of Canada, through the ACOA, is investing to support OmniActive Health Technologies in pursuing further research and development. The official announcement was made this morning in Charlottetown at the BioCommons Research Park.

“Our government recognizes the contribution innovative companies like OmniActive Health Technologies make in helping to create jobs in our region,” said Minister Shea. “This company is working towards providing an innovative, value-added service to its customers and to strengthening our local economy.”

Earlier this year, the company also received a financial contribution through the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP). The additional investment from ACOA will enable OmniActive Health Technologies to build on the outcomes of the R&D efforts supported by NRC-IRAP. These funds, in addition to growing market share and demand for its ingredients, have spurred further growth for OmniActive.

“OmniActive Health Technologies is very pleased with the support provided by ACOA and NRC-IRAP,” said Dr. Jayant Deshpande, Chief Technical Officer, OmniActive Health Technologies (Canada) Limited. “Funds provided by these federal agencies will help to accelerate discovery and commercialization of innovative products. We expect to steadily grow our team here.”

Since OmniActive opened its R&D facility at PEI in early 2012, it has been able to develop strong cooperative relationships with a number of local and global research organizations, educational establishments and government agencies. “We are delighted that our diligent pursuit of collaborative research and advancements in science are being recognized by the community and our peers,” said Sanjaya Mariwala, Managing Director of OmniActive Health Technologies. “This support reflects the continuing commitment that Atlantic Canada has made in boosting the region’s research and development opportunities, as well as its confidence in OmniActive Health Technologies’ capabilities of delivering cutting-edge innovation and stimulating economic growth.”