The Canadian Government has invested up to CA$4.75m ($3.58m) in Nova Scotia-based IMV's Covid-19 vaccine candidate, DPX-Covid-19.
As part of the Canadian National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), as well as from the Canada Opportunities Agency and Next Generation Manufacturing Canada, IMV will receive CA$4.15m. In addition, IMV has received CA$600,000 from the NRC IRAP's innovative assistance programme.
This funding will be used to support the scaling up of manufacturing and a Phase I study of DPX-Covid-19 in Canada.
DPX-Covid-19 is a slightly different vaccine approach; it combines traditional vaccine methods with immunotherapy to generate a targeted immune response against the virus.
IMV CEO Frederic Ors commented: “Governmental organisations play a pivotal role in the fight against Covid-19.
"Their contribution allows IMV to leverage our innovative DPX platform for the rapid development of a vaccine to protect against the coronavirus.
“Vaccination is our best hope for ending the current pandemic. Based on our preclinical results and rapid development, we believe that both our vaccine and manufacturing approaches have the potential to be transformational for Covid-19, and we appreciate the governments’ support and confidence in our progress.”