Question Period Note: SIF INVESTMENTS IN COVID-19 MEDICAL COUNTERMEASURES

How is the Government of Canada using the Strategic Innovation Fund (SIF) to develop medical countermeasures to fight COVID-19?

• Through Strategic Innovation Fund (SIF) investments, the Government of Canada continues to actively support the development of medical countermeasures that will help keep Canadians safe, while building Canada’s capability to respond to new COVID-19 variants and possible future pandemics.

• Budget 2021 provided $1 billion over seven years to support promising domestic life sciences and bio-manufacturing firms, which are an important component of Canada's plan to build domestic resilience and improve long-term pandemic preparedness.

• Canada has made great strides strengthen the science and biomanufacturing sectors, with investments and partnerships like those with Moderna and Sanofi, and many more on the horizon.

• Investing in cutting-edge, flexible and rapid-production capabilities will significantly augment Canada’s ability to meet the needs of Canadians during future outbreaks and pandemics.

• SIF has played a significant role in funding the development of medical countermeasures to fight COVID-19. This funding includes:

o $768 million in federal contributions through SIF’s Medical Countermeasures initiative, including 11 projects focused on the development of vaccines and therapies to scale-up Canada’s bio-manufacturing capacity; and

o $415 million announced on March 31, 2021 in support of Sanofi Pasteur’s project of building an end-to-end vaccine manufacturing facility in Toronto.

• Separate from the SIF, the government has also signed a memorandum of understanding with Moderna, to build a mRNA vaccine production facility in Canada.

• The government, in consultation with industry and scientific experts, academia and the public, has also developed “Canada’s Biomanufacturing and Life Sciences Strategy,” focused on rebuilding a strong and resilient domestic biomanufacturing and life sciences sector.

• On March 23, 2020 the government presented the Plan to Mobilize Science, which included $192 million to work with Medicago to develop a plant-based VLP vaccine for COVID-19, and with AbCellera to support its antibody therapy development.

• On April 23, 2020, the government announced additional funding of $600 million to support Canadian companies conducting clinical trials for COVID-19 vaccines and therapies, and in expanding domestic bio-manufacturing capacity.

• These funds were merged to deliver the medical countermeasures (MCM) initiative through SIF, which was granted authority to invest $792 million to fund clinical trials and biomanufacturing capacity in Canada.

• To date, the SIF has invested $768 million in 11 projects through its MCM initiative, and $415 million through regular SIF funding:
1) AbCellera—$175.6 million, announced on May 3, 2020
2) Medicago—$173 million announced on October 23, 2020
3) Precision NanoSystems—$18.2 million announced on October 23, 2020
4) Precision NanoSystems—additional $25.1 million announced on February 2, 2021
5) Variation Biotechnologies—$56 million announced on August 5, 2020
6) Arch Biopartners—$6.7 million announced on December 15, 2020
7) Edesa Biotech Research—$14 million announced on February 2, 2021
8) Immune Biosolutions—$13.4 million announced on March 16, 2021
9) KABS Laboratories—$54.2 million announced on March 16, 2021
10) Novocol—$32.7 million announced on March 16, 2021
11) Resilience (Therapure)—$199 million announced on May 18, 2021
12) Sanofi Pasteur – $415 million announced on March 31, 2021