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mRNA vaccine

Prime Minister announces LSI spinoff to receive funding to develop an RNA Vaccine for COVID-19

October 26, 2020

Canada’s Prime Minister, Justin Trudeau, announced October 23 that Precision NanoSystems (PNI) will receive $18.2 Million from the Government of Canada to Develop an RNA Vaccine for COVID-19.

PNI, which specializes in self-amplifying mRNA vectors, lipid-based drug delivery systems and nanomedicine manufacturing, will use the investment to advance a best-in-class, made-in-Canada vaccine.

“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 a mRNA vaccine candidate through pre-clinical studies and clinical trials to help protect Canadians,” stated the Honorable Navdeep Bains, Minister of Innovation, Science and Industry, in an announcement on Oct. 26, 2020.

Funding for the initiative is provided under the Innovation, Science and Economic Development’s (ISED) Strategic Innovation Fund (SIF). The SIF focuses on supporting private sector-led vaccine and therapy clinical trials.

PNI, a global leader in technologies and solutions in genetic medicine, provides over 250 industry and academic partners with solutions for the development of vaccines, gene therapies, and cell therapies, in the areas of infectious diseases, oncology and rare diseases. The company was co-founded 10 years ago by former LSI Director Dr. Pieter Cullis, along with Dr. Euan Ramsay and Dr. James Taylor.

Bringing together its proprietary technology platforms, key partnerships and unparalleled expertise in nanomedicines, PNI is excited to be leading the development of a made-in-Canada COVID vaccine. “Since its inception PNI has executed on its mission to accelerate the creation of transformative medicines,” said CEO James Taylor. “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.”

Source: Precision Nanosystems press release on CISI newswire

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