Canada to invest up to $173 million in made-in-Quebec vaccine
It’s been a tough year, but Prime Minister Justin Trudeau is optimistic that 2021 will be much easier.
In a press conference Friday, Trudeau was asked where Canada stands when it comes to securing a potential vaccine for the virus. He replied by saying a COVID-19 vaccination could arrive in Canada by the beginning of 2021.
“We’ve worked extremely hard with companies around the world to secure Canadian access to vaccines,” said Trudeau. “In total, Canada has been able to secure agreements with six different companies around the world.”
Trudeau also announced that Canada is spending up to $214 million to produce potential COVID-19 vaccines in Canada. Up to $173 million will be invested in Medicago, a Quebec company, who is working on its own vaccine. The funds are to be used to advance Medicago’s research and to help set up a production facility in the province.
The prime minister said the Medicago agreement includes the right to buy up to 76 million doses of its vaccine, provided of course, it proves safe and effective.
In addition, Trudeau also said more than $41 million will be invested in other vaccine candidates across Canada, of which $18.2 million will go to Vancouver-based Precision NanoSystems.