On February 2, 2021, Precision NanoSystems, Inc. ("PNI") announced that it had received a contribution of $25.1 million through the Government of Canada's Strategic Innovation Fund (SIF).
This contribution will support a $50.2 million project to establish a biomanufacturing centre in Vancouver dedicated to the production of ribonucleic acid lipid nanoparticle vaccines and genetic medicines. The centre will support the Government of Canada's national biomanufacturing strategy to expand production capacity of critical medicines for the prevention and treatment of diseases such as COVID-19.
PNI is a global leader in ushering in the next wave of genetic medicines in infectious diseases, cancer and rare diseases. PNI offers proprietary technology platforms and comprehensive expertise to enable researchers to translate disease biology insights into non-viral genetic medicines.
Paul Armitage of Gowling WLG advised PNI with respect to the negotiation of this contribution agreement with the Government of Canada.
Government of Canada contributes $25.1 million to Precision NanoSystems to build biomanufacturing centre.
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