Bulletin: Precision Nanosystems nets $25M through federal Strategic Innovation Fund

The contribution will support a CAD $50.2-million project to establish a biomanufacturing centre in Vancouver.

Precision NanoSystems, Inc. (PNI) received a contribution of CAD $25.1 million from the federal government through the Strategic Innovation Fund (SIF). The contribution will support a CAD $50.2-million project to establish a biomanufacturing centre in Vancouver dedicated to the production of ribonucleic acid (RNA) lipid nanoparticle vaccines and genetic medicines.

  • Big picture: The centre will support the Government of Canada's national biomanufacturing strategy to expand production capacity of critical medicines for the prevention and treatment of diseases such as COVID-19.

  • Double-dipping: Last October, PNI received a commitment of up to $18.2 million in support from the Government of Canada from the same fund to develop a COVID-19 vaccine.