Prime Minister Justin Trudeau has announced federal funding to build a hub for nuclear medicine at TRIUMF, Canada's national particle accelerator.

Trudeau made the announcement after meeting employees and touring the site, which is a joint venture of a consortium of universities and is based in Vancouver.

He says the Institute for Advanced Medical Isotopes will provide a first-of-its-kind facility in Canada where scientists and industry partners will work together to advance research including drug development and cancer therapy.

The new 2,500-square-metre building will house a particle accelerator, research facilities and laboratories.

Trudeau says it will help Canada stay a leader in medical isotope research.

Medical isotopes are safe radioactive substances used to diagnose and treat conditions of the heart, circulatory system and organs, allowing scientists to see what is happening inside the body in a non-invasive way.

The new facility is valued at more than $50 million and is also supported by contributions from the British Columbia government, BC Cancer Foundation, the University of British Columbia and philanthropic funding.