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Providence Therapeutics Announces $2.118 Million Usd In Funding To Support Process Development And Validation Of The Ptx-Covid19-B Program, Which Targets High Quality Mrna Covid-19 Vaccine To Low-To Middle-Income Countries At Affordable Prices

Dec 07, 2021•almost 4 years ago

Amount Raised

$2.12 Million

Round Type

seed

Calgary

Description

Providence Therapeutics announced today that their COVID-19 vaccine program, PTX-COVID19-B, has received $2.118 Million USD in funding from the Bill & Melinda Gates Foundation. Providence is using the grant towards funding ongoing PTX-COVID19-B program process development and validation activities that will ultimately improve access of the vaccine in low- and middle-income countries (LMICs) through qualifying additional vendors for critical raw materials needed for mRNA vaccines and decreasing the cost of these key components. Additional work supported through this grant is for validation to facilitate the shipping of bulk materials to support regional partnerships in LMIC's that participate in the manufacturing process.

Company Information

Company

Providence Therapeutics

Location

Calgary, Alberta, Canada

About

Providence is a leading Canadian clinical stage biotechnology company pioneering mRNA therapeutics and vaccines with operations in Calgary, Alberta and Toronto, Ontario. In response to a worldwide need for a COVID-19 vaccine, Providence expanded its focus beyond oncology therapies and devoted its energy and resources to develop a world-class mRNA vaccine for COVID-19. Providence is focused on serving the needs of Canada, and other countries that may be underserved by large pharmaceutical programs. For more information, please visit www.providencetherapeutics.com.