BioVectra received funding to allow the corporation to expand API and scaled biologics capacity in the Atlantic Canada region from Canada’s Strategic Innovation Fund (SIF) in the amount of $21.1M.
The organization also sought funding to expand existing technologies in biomanufacturing and mRNA vaccine production totaling $29.5M also from the Strategic Innovation Fund (SIF). Both funding agreements were in the form of grants and repayable loans. BioVectra also sought funding from provincial governments in both Nova Scotia and PEI to support capital investment, labor costs and other operational costs associated with the biomanufacturing and mRNA production. Those funding agreements came in the form of non-repayable grant, tax incentives and repayable contribution.
BioVectra was awarded funding from NRC-IRAP to develop a concept for the manufacturing of COVID-19 vaccines ($1.87m, Oct 2020)the project completed in June 2021.