The federal government is allocating $275 million for research to help find a vaccine or treatment for COVID-19.
Prime Minister Justin Trudeau announced on Monday new funding to companies looking to mitigate the spread of the virus.
AbCellera, a Vancouver-based biotech company, and Medicago, a Quebec City-based company, are getting $192 million for clinical trials.
The University of Saskatchewan’s Vaccine and Infectious Disease Organization, the National Research Council of Canada, and BlueDot, a Toronto-based digital health firm, are also receiving funds.
These companies will continue to research and monitor the spread of the virus.
“Canada is home to some of the most skilled and brightest researchers in the world, who are working hard to develop countermeasures that will protect the health and safety of Canadians and support international efforts to fight this pandemic,” said Trudeau. “We are all in this together, and need to be doing our part to prevent the spread.”
These funds are apart of the $1 billion the government of Canada allocated to help fight the coronavirus.