OTTAWA (NEWS 1130) — The federal government is pouring millions of dollars into a Vancouver-based bio-research company, which is looking into the treatment and prevention of COVID-19.
$175-million to AbCellera Biologics was announced by Prime Minister Justin Trudeau during his daily update from Ottawa Sunday morning.
He said the company is doing a “very promising” work around COVID-19.
“They’ve identified antibodies that could be used in drugs to treat this virus. This new funding will help them continue their vital work, and will support human [trials].”
Trials will begin as early as July.
This morning PM @JustinTrudeau announced $175 million to @AbCelleraBio – which is based in Vancouver! He called their work "very promising" as they've made progress in identifying antibodies that may be used to create a vaccine or treatment for COVID-19. @NEWS1130 #BC #cdnpoli
— Tarnjit Parmar (@Tarnjitkparmar) May 3, 2020
In addition to the federal support, the City of Vancouver is “ensuring AbCellera has the infrastructure needed as they accelerate finding a treatment for COVID-19,” Vancouver Mayor Kennedy Stewart says in a release published by AbCellera.
“We couldn’t be more proud to be on the front lines of this global effort thanks to the innovation and leadership of AbCellera,” Stewart adds.
During Trudeau’s Sunday briefing, he said, although while Canadians wait for effective treatments or a vaccine, “we still need a reliable supply of everything from masks to ventilators.”