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

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.

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

0:49 Trudeau announces $518 million to support innovation and research in Canada

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