The Vancouver biotech firm will get $225 million from the federal government’s Strategic Innovation Fund and $75 million from the B.C. government. The funds will be used toward AbCellera’s $701-million campus expansion in Vancouver, which includes a preclinical antibody development facility. (The Logic)
Talking point: The federal government previously contributed $175.6 million to the firm in May 2020 as part of its fight against COVID-19. The B.C. anchor company, which works with partners to find and develop antibody therapies, is building hundreds of thousands of square feet of office, laboratory and manufacturing space in Vancouver and plans to hire hundreds of employees. The funding, which comes as both levels of government double down on their respective life sciences and biomanufacturing strategies, aims to strengthen antibody drug development in the country. AbCellera co-developed two COVID-19 antibody treatments that were widely used in the U.S., though the FDA later revoked emergency use authorization for both as resistant variants emerged.