Prime Minister Justin Trudeau announced a deal with American company Novavax to produce doses of its new COVID-19 vaccine at a facility here in Montreal.
Trudeau made the announcement Tuesday morning, saying the federal government has signed a memorandum with Novavax to have “tens of millions” of doses after it is approved by Health Canada.
Once approved, the company will be able to produce two million doses per month.
"We created a smart, proactive plan on vaccines and vaccines rollout," said Trudeau.
Novavax has been working on its vaccine since the beginning of the pandemic and according to the company’s website, the Novavax vaccine has demonstrated 89.3% efficacy in protecting against COVID-19. The vaccine requires two doses but can be stored in normal fridges and isn’t as delicate as other vaccines on the market.
Assuming the company receives approval for its vaccine, the first doses delivered to Canada will be made outside the country, before moving production to the Montreal facility.
Trudeau also confirmed that Canada has struck a deal with another vaccine company, Precision NanoSystems, which is based in Vancouver.
The Vancouver-based company is expected to build a $50.2 million production facility “capable of producing up to 240 million vaccine does yearly.”
Meanwhile, Edesa Biotech, in Markham, Ontario, is also receiving funding, with up to $14 million expected to help the biopharmaceutical company produce a monoclonal antibody that treats acute respiratory distress syndrome, which is the leading cause of COVID-19 deaths.
“Vaccines work. They are safe and effective. When it’s my turn, I’ll be ready to roll up my sleeve and get my doses,” Trudeau said.
