Precision Nanosystems (PNI) has received a funding boost of up to CAD 18.2 million from the Canadian government to develop a mRNA vaccine for Covid-19.

The funding from Canada’s Innovation, Science and Economic Development’s (ISED) Strategic Innovation Fund (SIF) will help the Vancouver-based biotech company to move its Covid-19 mRNA vaccine candidate to clinical trials.

Navdeep Bains – Canada Minister of Innovation, Science and Industry said: “An effective vaccine will be critical as we work to contain the COVID-19 virus and prevent future infections.

“Today’s contribution will support PNI to advance the development of an mRNA vaccine candidate through pre-clinical studies and clinical trials to help protect Canadians.”

Precision Nanosystems caters to more than 250 industry and academic partners with solutions for the development of vaccines, cell therapies, and gene therapies, in the areas of oncology, infectious diseases, and rare diseases.

With the investment from the Canadian government, Precision Nanosystems’ Chief Scientific Officer Dr Andrew Geall and his team will use their technology platforms and expertise in self-amplifying mRNA vectors, lipid-based drug delivery systems and nanomedicine manufacturing for developing a cost-effective vaccine for Covid-19.

James Taylor – CEO and co-founder of Precision Nanosystems said: “Since its inception PNI has executed on its mission to accelerate the creation of transformative medicines.

“It is an honor to be supported by the Canadian government in this global fight against COVID-19 and to further build capabilities for rapid response against COVID-19 and future pandemics.”

  Canada, COVID-19, James Taylor, Navdeep Bains, Novel Coronavirus, Precision Nanosystems