Published 15:52 IST, October 24th 2020
Trudeau announces new plan for 'made-in-Canada' COVID-19 vaccine as cases surge
Canadian Prime Minister Justin Trudeau on October 23 announced an investment of up to $173 million through the Strategic Innovation Fund (SIF) in Quebec City
Canadian Prime Minister Justin Trudeau on October 23 announced an investment of up to $173 million through the Strategic Innovation Fund (SIF) in Quebec City based Medicago. This comes as a measure by Canada to battle the novel coronavirus as it surpasses 200,000 cases. The entire process is valued at an amount of $428 million and it is said to advance Medicago’s virus-like particle vaccine which is developed on the company’s unique plant-based production platform.
Canada battles coronavirus
Trudeau said in a statement, “Today’s announcement is a testament to Canada’s commitment to evidence-based solutions to fight the global COVID-19 pandemic. As we continue to safely restart our economy, we will do whatever it takes to protect Canadians from COVID-19 and build a country that is healthier and safer for everyone. This is why we are supporting our biomanufacturing sector, through companies like Medicago and Precision NanoSystems, to develop a reliable, made-in-Canada vaccine”. The government has also reached an agreement to reserve 76 million doses of the vaccine. This amount is enough to vaccinate 38 million people.
As per the press release, the government is also planning to invest in a Vancouver-based biotechnology company Precision NanoSystems Incorporated (PNI) through the SIF. The government will be contributing an amount of $18.2 million. The press release further stated, “the government is also providing up to $23.2 million in funding through the National Research Council of Canada Industrial Research Assistance Program to advance six COVID-19 vaccine candidates in various stages of clinical trials”.
The Canadian government has already signed agreements with Medicago, AstraZeneca, Sanofi and GlaxoSmithKline, Johnson & Johnson, Novavax, Pfizer, and Moderna. Minister of Innovation, Science and Industry, Hon. Navdeep Bains said, “Our government is continuing to manage the impacts of the pandemic, while preparing for future waves. Today’s investment is helping Canadian companies PNI and Medicago advance Made-in-Canada vaccine candidates recommended by the COVID-19 Vaccine Task Force, and supporting the researchers and companies that are helping in the fight against this pandemic. This is all part of our government’s continued commitment to protect the health and safety of all Canadians”.
(Image Credits: AP)
Updated 15:51 IST, October 24th 2020