Science and Technology
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BioVectra received funding in year to support the expansion of existing technologies in biomanufacturing and mRNA/pDNA vaccine production totaling $22.8M. The total commitment of the funding awarded from the Strategic Innovation Fund (SIF) relating to this project spanning 2022-2024 was $46.5M, the residual amount is expected to be disbursed in fiscal year 2024. This funding agreement was in the form of grant and non-interest bearing repayable loan. BioVectra also sought and secured funding from provincial government in PEI to support capital investment, labor cost and other operational costs associated with the biomanufacturing and mRNA/pDNA production. Those funding agreements came in the form of non-repayable grants totaling $10M and tax incentives, of which $3.3M was received during 2023 fiscal year and the residual is expected over years 2024-2030.
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Grant, Contribution or Other Financial Benefit
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