New Investments to Support COVID-19 Vaccine Production

Lisa C. COVID-19, Updates

The Prime Minister, Justin Trudeau, has announced that the Canadian government has signed a memorandum of understanding with Novavax to pursue the production of its COVID-19 vaccine at the National Research Council of Canada’s Biologics Manufacturing Centre in Montréal.

The Prime Minister also announced investments to support vaccine, therapeutic, and biomanufacturing projects in Canada:

  • Up to $25.1 million to Precision NanoSystems Incorporated (PNI), a Vancouver-based biotechnology company, to expand our ability to produce ribonucleic acid vaccines and future genetic medicines in Canada.
  • Up to $14 million to Edesa Biotech Inc. (Edesa), an Ontario-based biopharmaceutical company, to advance work on a monoclonal antibody therapy for acute respiratory distress syndrome, which is the leading cause of COVID-19 deaths.

Word of the Day:

Memorandum of understanding (MOU): a written agreement between two or more parties, which states mutually-accepted expectations as they work together to achieve a common goal.

More information: https://pm.gc.ca/en/news/news-releases/2021/02/02/new-support-produce-covid-19-vaccines-and-treatments-canada