Le Lézard
Classified in: Health, Business, Covid-19 virus
Subjects: ECO, POL, CFG

Minister Bains announces investment in antibody discovery technology to help treat COVID-19


Government of Canada supports innovative project to combat COVID-19 and build Canadian capabilities to fight future pandemics

OTTAWA, May 3, 2020 /CNW/ - Canadian scientists, businesses and manufacturers are stepping up to fight COVID-19. The Government of Canada is investing in projects that will support Canada in the global race to find a treatment for COVID-19 while building domestic capabilities to fight future pandemics.

The Honourable Navdeep Bains, Minister of Innovation, Science and Industry, today announced a contribution of $175.6 million to AbCellera Biologics, a Canadian biotechnology company that researches and discovers next-generation antibody drugs to fight infection and disease. This contribution is part of Canada's Plan to Mobilize Science to fight COVID-19, announced on March 23, 2020, which includes significant investments in Canada's world-class research community to develop vaccines and treatments for COVID-19 and to diagnose the disease. These investments in research, combined with investments in innovation and manufacturing capacity, will help stop the spread of COVID-19 and, ultimately, facilitate our return to work and economic recovery.

This project will support Canada's fight against COVID-19 by leveraging AbCellera's world-leading drug discovery technology, which searches and analyzes blood samples of recovered patients to rapidly find naturally produced antibodies that can be used to fight and prevent viral infections. In just a few short weeks, AbCellera has identified over 500 antibodies directly from a patient who has recovered from COVID-19. This funding is instrumental in accelerating and expanding AbCellera's capabilities to combat COVID-19. AbCellera and its partners expect clinical trials to begin in July 2020 or earlier. Antibodies found during AbCellera's research may also be used to create tests for COVID-19, and the company is working with several global organizations to support the development of new diagnostics to monitor the disease.

This funding will also support AbCellera in establishing a Good Manufacturing Practice (GMP) facility in Vancouver, B.C. This new AbCellera facility will be the first of this scale in Canada capable of going from a patient sample to manufacturing antibodies for clinical testing. It is part of a broader plan to ensure Canada further strengthens its capacity to respond to future pandemics.

Through this investment, the Government of Canada is contributing to breakthrough technology efforts to advance the development of treatments for COVID-19 and commercialization of a made-in-Canada solution.

Quotes 

"Our government is mobilizing its resources to confront COVID-19, supporting the researchers and businesses that are working hard to develop medical countermeasures to beat this pandemic. Today's contribution will support AbCellera Biologics as they use their world-leading technology to rapidly identify antibodies that could be used to develop a treatment for COVID-19 while ensuring Canada's long-term preparedness for future health challenges."

? The Honourable Navdeep Bains, Minister of Innovation, Science and Industry 

"Each and every one of us is affected, and our teams stand together, galvanized to fight this outbreak. We are proud to have the support of the Government of Canada to quickly find a solution to the COVID-19 pandemic."

? Carl Hansen, PhD, CEO of AbCellera

Quick facts

Associated links

Follow Innovation, Science and Economic Development Canada on Twitter: @ISED_CA

SOURCE Innovation, Science and Economic Development Canada


These press releases may also interest you

at 16:20
Summit Therapeutics Inc. ("Summit," "we," or the "Company") today announced the grant of inducement awards of options to purchase a collective total of up to 330,000 shares of common stock. Awards were made to six new employees of the Company. The...

at 16:15
eHealth, Inc. , a leading private online health insurance marketplace (the "Company"), today announced that on July 1, 2024, the Compensation Committee of its Board of Directors granted inducement stock unit awards to two new employees covering an...

at 16:10
bluebird bio, Inc. today announced that the Compensation Committee of the Company's Board of Directors approved an inducement grant of stock options to purchase a total of 300,000 shares of common stock to its chief financial officer, James...

at 16:10
The global consumer healthcare market size is estimated to grow by USD 170.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.78% during the forecast period. Awareness about lifestyle diseases is driving...

at 16:05
Voomtm Medical Devices, Inc. ("Voom"), the orthopedic medical device company behind the disruptive, game-changing Revcontm bunion screw technology, is honored to be named first on Podiatry Today's 2024 Top 10 Innovations list. Voom's one-of-a-kind...

at 16:05
Longboard Pharmaceuticals, Inc. , a clinical-stage biopharmaceutical company focused on developing novel, transformative medicines for neurological diseases, today announced the grant of inducement awards to four new employees. The Compensation...



News published on and distributed by: