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Industry committee Thank you, Chair. Good afternoon, members. On behalf of my colleagues, we're very pleased to be here today to provide you with an update on domestic biomanufacturing capacity in Canada. It's well established that at the outset of the pandemic, Canada had very little of the bio
April 8th, 2022Committee meeting
Eric Costen
Industry committee Absolutely, and thank you very much for the question. Medicago is most certainly one of the vaccine manufacturers in the country that we've invested in over the last number of years.
April 8th, 2022Committee meeting
Eric Costen
Industry committee That's a very important question. I'm happy to answer it and to provide as much information as I can regarding the process for making investment decisions and, quite frankly, the situation regarding Canada's investment in Medicago. The first thing I would say is that there is an
April 8th, 2022Committee meeting
Eric Costen
Industry committee Again, thank you very much for the question. At the time of the investment, it really was an investment in their vaccine candidate and looking to get an effective and safe vaccine to market as soon as possible. The ownership structure and the challenge that it might present to
April 8th, 2022Committee meeting
Eric Costen
Industry committee Thank you. It's a pleasure to answer that question. You're absolutely right. At the outset of the pandemic, when Canada went looking for the capacity that it could rely on to develop and manufacture a COVID vaccine, it found a sector that had been largely diminishing over many y
April 8th, 2022Committee meeting
Eric Costen
Industry committee If it's okay, I might turn to my colleague Darryl Patterson to answer that part of the question.
April 8th, 2022Committee meeting
Eric Costen
Industry committee As I said in my first answer, we did know. It's part of the due diligence process and looking at the financial situation of the company. Part of that is an examination of the ownership structure. There was an awareness at the outset that PMI had a minority position over Medicago.
April 8th, 2022Committee meeting
Eric Costen
Industry committee I will turn to my colleague Daniel Quinn, who has oversight over research infrastructure and can probably provide you some information regarding the process for laboratory approvals. Daniel.
April 8th, 2022Committee meeting
Eric Costen
Industry committee If we look back to last year's budget and the commitment to $2.2 billion, which is in addition to the $1.6 billion that has been spent to date, that's the marker for funding the strategy. Of the $2.2 billion, approximately $1 billion is dedicated to various research undertakings,
April 8th, 2022Committee meeting
Eric Costen
Industry committee Go ahead, Maria.
April 8th, 2022Committee meeting
Eric Costen
Industry committee Thank you so much for the question. Your question raises a number of really important issues, the first of which is that Medicago is, first and foremost, a vaccine manufacturing firm that is not controlled by PMI. It is completely independent. It operates in and around Quebec Ci
April 8th, 2022Committee meeting
Eric Costen
Industry committee Thank you for the question. I will say off the top that you're asking a question that is not really in my area of expertise, nor in my colleagues'. If we have time, I might turn to my colleague Darryl Patterson, who could offer a few views. You're asking a very big question abo
April 8th, 2022Committee meeting
Eric Costen
Industry committee In terms of red tape reduction, it's an interesting question. I have a few thoughts in response. I think there are opportunities that probably exist on multiple levels. Some of these have proven themselves over the past 18 months, where you've seen a level of agility and speedin
April 8th, 2022Committee meeting
Eric Costen
Industry committee In terms of examples, I may turn to Rodrigo. In the early stage of the pandemic, there were a number of significant funding decisions that were made, early on and in a very compressed time frame, that have proven to be highly advantageous. Rodrigo, could you provide a couple of
April 8th, 2022Committee meeting
Eric Costen
Industry committee There's a period of reflection that's happening right now. We're still in the pandemic. We're all hopeful that it's in the rear-view mirror soon enough. I think across government, you're going to see many of us reflecting on the experience of what worked and what didn't, or what
April 8th, 2022Committee meeting
Eric Costen