Vancouver, British Columbia
The Government of Canada and the Province of B.C. continue to deliver on the promise to rebuild a robust and strengthened biomanufacturing and life sciences sector across the country. Since March 2020, federal investments of over $2.1 billion have resulted in major achievements, with 36 new and expanded projects to boost the domestic sector's capacity. These investments are supporting advances in competitive technological areas and the growth of Canadian companies, while enhancing domestic capabilities to respond to current and future health challenges.
Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, and the Honourable David Eby, Premier of British Columbia, jointly announced funding of $300 million to AbCellera. Through the Strategic Innovation Fund, the Government of Canada is contributing $225 million to support AbCellera's $701 million project to create a state-of-the-art biotech campus equipped with a new preclinical antibody development facility and make significant upgrades to its existing facilities in Vancouver. The Province of B.C. is providing $75 million. The funding will allow AbCellera to enhance and expand the Canadian value chain in leading-edge antibody drug development and clinical research, giving Canadian patients earlier access to innovative medicines.
This groundbreaking project aligns with Canada's Biomanufacturing and Life Sciences Strategy, as well as with B.C.'s recently launched Life Sciences and Biomanufacturing Strategy, to rebuild the Canadian biomanufacturing sector across the country. The project will strengthen Canada's position in antibody drug development that will significantly contribute to Canada's clinical trials sector by advancing therapies targeting areas of unmet medical need. It also represents a major opportunity for the company and Canada to enhance their global leading-edge technological capabilities to attract investments, partnerships and top talent and to propel growth and innovation in the sector. Today's contribution will enable AbCellera to create over 400 full-time positions in Canada, invest heavily in research and development, and significantly strengthen our country's life sciences sector for decades to come.
The government is doubling down on AbCellera, having made a contribution of $175.6 million to AbCellera in May 2020 as part of Canada's Plan to Mobilize Science to fight COVID-19.
