Wednesday, May 24, 2023
AbCellera announced a CA$701 million co-investment with the Governments of Canada and British Columbia to build new capabilities and infrastructure to develop innovative antibody-based medicines and strengthen Canada’s leadership in clinical research, manufacturing, and drug development.
This partnership with AbCellera, expands domestic life sciences and biotechnology ecosystem, which will strengthen the antibody drug development and help address unmet medical needs.
Over the next eight years, AbCellera plans to invest CA$401 million in the project, and the Governments of Canada and British Columbia will contribute CA$225 million and CA$75 million, respectively. These investments will build new capabilities in Canada to develop, manufacture, and deliver antibody medicines to patients through Phase 1 clinical trials and build expertise in translational science, technical operations, and clinical operations and research.
This project, and the commitment to co-invest alongside the Governments of Canada and British Columbia, is a major step towards building the capabilities in Canada to translate scientific breakthroughs into new medicines that will benefit patients here, and around the world.
