Grants and Contributions:

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Title:

Increasing Canada’s Biopharmaceutical Receptor Capacity

Agreement Number:

811152

Agreement Value:

$21,114,000.00

Agreement Date:

Sep 14, 2017 - Mar 31, 2021

Description:

The project will increase BioVectra's contribution to medicine production capacity and support the research and development of advanced pharmaceutical products not currently manufactured in Canada.

Organization:

Innovation, Science and Economic Development Canada

Expected Results:

This project will contribute to establishing Biovectra as a world leader in biologics development and production, grow the firm's market share and drive innovation and growth in Atlantic Canada Biotech Community. The project allows Biovectra to be positioned in the COVID-19 response while it continues to deliver on its significant economic, innovation and public benefit for Atlantic Canada. This project anticipates the creation of 200 new full-time jobs and will maintain 500 full-time jobs within Canada.

Location:

Charlottetown, Prince Edward Island, CA C1E0A1

Reference Number:

033-2018-2019-Q4-811152

Agreement Type:

Other transfer payment

Report Type:

Grants and Contributions

Recipient Business Number:

101379949

Recipient Type:

For-profit organization

Additional Information:

The Amendment has been completed to reduce the contribution amount from $37.5M to $21.1M. This is a partially repayable contribution.

Amendment Date

Feb 1, 2021

Recipient's Operating Name:

BioVectra Inc

Recipient's Legal Name:

BioVectra Inc

Federal Riding Name:

Kings--Hants

Federal Riding Number:

12007

Program:

SIF Stream2- Growth

Program Purpose:

-Encourage R&D that will accelerate technology transfer and commercialization of innovative products, processes and services;-Facilitate the growth and expansion of firms in Canada;-Attract and retain large scale investments to Canada; and-Advance industrial research, development and technology demonstration through collaboration between academia, non-profit organizations and the private sector.

NAICS Code:

325410

Amendments:

See Amendments