$39.8 million earmarked for new vaccine manufacturing
Ottawa has announced a $39.8 million investment to support BIOVECTRA’s $79.6 million project, which will help the company build a new manufacturing facility in Prince Edward Island and reconfigure its facilities in Nova Scotia.
“Vaccines save lives, and COVID-19 vaccines are helping us start getting back to normal. BIOVECTRA’s plan to establish a state-of-the-art vaccine facility here in Prince Edward Island, and upgrade their existing facilities in Nova Scotia, is a key move that supports our strategy to grow a strong, competitive domestic life sciences sector with cutting-edge biomanufacturing capabilities. This will make sure Canada is prepared for future pandemics and other health emergencies, strengthen our economy and create good jobs here in Atlantic Canada.” said François-Philippe Champagne, Minister of Innovation, Science and Industry.
This project aligns with Canada’s Biomanufacturing and Life Sciences Strategy. Once completed, the project will allow for production equivalent to 160 million doses of mRNA vaccine per year.
“BIOVECTRA is a true leader in bioscience, with strong relationships in the pharmaceutical industry, and we’re proud they call the East Coast home. A new state-of-the-art facility right here in Prince Edward Island means so many great things for our province. It means good jobs for Islanders, readiness for future health emergencies and an enhanced reputation for our province as a leader in bioscience research and innovation. Investing in this new facility is a step in the right direction as we move forward in strengthening our provincial economy and growing our sectors.” said Dennis King, Premier of Prince Edward Island.
This investment hopes to support the growth of Canada’s life science ecosystem while trying to drive innovation and create well-paying jobs in Prince Edward Island and Nova Scotia. With this contribution, BIOVECTRA will maintain and create 675 full-time jobs in P.E.I. and Nova Scotia as well as 225 co-op positions.