Precision NanoSystems provides proprietary technology platforms and comprehensive expertise to help drug developers create non-viral genetic medicines, including RNA lipid nanoparticle vaccines, gene therapies and cell therapies. The company works with clients worldwide to translate disease biology insights into therapeutic and vaccine candidates. PNI announced a CAD $25.1 million contribution from the Government of Canada through the Strategic Innovation Fund to support a CAD $50.2 million project to establish a biomanufacturing centre. The planned facility is a roughly 40,000 square foot leased site in Vancouver with multiple GMP suites and manufacturing lines for end-to-end production of genetic medicines, targeted for completion in early 2023. PNI says the centre will expand its development and manufacturing services to support clinical development and supply of new medicines and will bolster Canada’s epidemic and pandemic preparedness. The centre is intended to advance domestic manufacturing capacity for critical medicines and support made-in-Canada vaccines and therapies. Precision NanoSystems develops instruments, kits and reagents for the global nanomedicine market, providing tools for drug development and cell-specific delivery to study, diagnose and treat disease. Its flagship product, the NanoAssemblr Benchtop instrument, enables rapid development of nanomedicine drug candidates for pre-clinical testing, and the company has sold over 60 NanoAssemblr Benchtop instruments worldwide to pharmaceutical, biotechnology and academic customers. PNI's platform supports the development of lipid and polymer nanoparticles for delivery of genetic medicines (DNA, siRNA, mRNA, miRNA, CRISPR), small-molecule drugs and proteins. The company is developing a scale-up platform for producing nanomedicines that is in beta test at several locations and is being prepared for GMP manufacture. PNI provides instruments, reagents and services and builds strategic collaborations to commercialize next-generation nanoparticle formulations. The company plans to use the new funding to expand product development, increase manufacturing capacity and accelerate commercialization of its instruments, reagents and scale-up technology.

Total raised

$33M

Funding rounds

2

Latest round

Equity

Latest activity

Feb 2021