Advertisement

Canada invests millions more in domestic drug development to combat COVID-19

Click to play video: 'Montreal facility to produce Novavax vaccine in the fight against COVID-19' Montreal facility to produce Novavax vaccine in the fight against COVID-19
WATCH: Montreal facility to produce Novavax vaccine in the fight against COVID-19 – Feb 2, 2021

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.

Read more: Feds asked vaccine makers to produce COVID-19 shots in Canada. All said no

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.

It will also provide up to $32.7 million to Novocol Pharmeceutical of Canada for growth of its biomanufacturing facilities in Ontario.

Click to play video: 'Trudeau announces $518 million to support innovation and research in Canada' Trudeau announces $518 million to support innovation and research in Canada
Trudeau announces $518 million to support innovation and research in Canada – Mar 3, 2021

Ottawa is also investing $150 million to help companies advance through the early stages of research and development of several Canadian-made vaccine candidates.

Advertisement

Sponsored content