The federal government is investing millions of new dollars to boost Canada’s domestic vaccine and drug development capacity.
Innovation Minister Francois-Philippe Champagne says Canada must build and expand homegrown biomanufacturing facilities and develop more equipment to secure more vaccines and therapeutics to combat COVID-19.
Ottawa will contribute up to $54.2 million to KABS Laboratories and up to $13.44 million to Immune Biosolutions to expand their respective operations in Quebec.
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It will also provide up to $32.7 million to Novocol Pharmeceutical of Canada for growth of its biomanufacturing facilities in Ontario.
Ottawa is also investing $150 million to help companies advance through the early stages of research and development of several Canadian-made vaccine candidates.
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