Canada to Invest $23 Million in Markham-based Edesa Biotech

Oct 12, 2023

The Government of Canada is working tirelessly to rebuild Canada’s domestic biomanufacturing sector to develop safe and efficient treatments for Canadians.

The Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, announced a contribution of $23 million to support Edesa Biotech’s $61 million project through the Strategic Innovation Fund (SIF). Edesa is a biopharmaceutical company based in Markham, Ontario, that is seeking to advance Phase III clinical trials for its monoclonal antibody therapy (EB05), for the treatment of acute respiratory distress syndrome (ARDS) in COVID-19 patients.

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