Clarification: Ontario's $1.7 Million LSSUF Funding for Aurora Facility Not Material

Company clarifies on a news report about its Aurora facility in Ontario.

Thu 1 Oct 2026

Funding Amount

$1.7 Million funding support from the Government of Ontario under the Life Sciences Scale-Up Fund

Use of Funding

infrastructure upgrades, site modernization, operational efficiency and sustainability

Materiality Statement

not expected to have a material impact on operations, financial position or performance

Facility

Aurora facility in Ontario

Ontario funding in the news

• A news item dated September 30, 2026 on thehindubusinessline.com was titled "Ontario Contributes $1.7 Million Investment to Advance Life Sciences Innovation at Piramal Pharma's Aurora Facility."
• The company clarified that this pertains to funding support received by its Aurora facility from the Government of Ontario under the Life Sciences Scale-Up Fund (LSSUF) program.
• The program aims to support innovative Ontario-based life sciences companies in scaling their operations and responding to procurement opportunities.

What the funding is meant for

• Infrastructure upgrades
• Site modernization
• Operational efficiency
• Sustainability initiatives
• Other enhancement projects at the Aurora facility

Expected benefits as stated

• Employment generation and retention
• Support for innovation and commercialization initiatives
• Strengthening the broader life sciences and biomanufacturing ecosystem in Ontario

How the company has sized it

• The company said the funding support does not constitute a material event or information requiring disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• It said the funding is not expected to have a material impact on its operations, financial position, or performance.

Share price and volume movement

• The company said any movement in the price and/or volume of its shares appears to be driven by market dynamics.
• It said it is not aware of any specific reason or information that may have resulted in such movement.

What a retail investor can take away

• This is a clarification sent to the exchange about a news report that had already appeared, not a fresh announcement of a new order, contract or fundraise.
• The figure referred to in the news item, and addressed in the clarification, is $1.7 Million of funding support.
• The company's own stated position is that this is not expected to be material to its operations, financial position, or performance.

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