A home-grown COVID-19 vaccine candidate could soon be on the market, with Quebec-based Medicago’s latest data showing promising results. The biopharmaceutical manufacturer, which says its product showed 75.3 per cent efficacy against the Delta variant, said it plans to “imminently” file a final regulatory submission to Health Canada.
“I think the results that we have are really exciting and really interesting,” said Brian Ward, medical officer for Medicago.
The data published by Medicago showed efficacy against COVID-19 variants, such as Delta, which is globally the dominant strain. The company said in a press release that other vaccines which are currently in use did not have Phase 3 trials with the Delta variant. Overall, the vaccine had a 71 per cent efficacy against all variants, but the trials occurred before the appearance of the largely unknown Omicron variant.
“Our vaccine was actually challenged by these much more complicated, mutated viruses,” Ward said. “The overall efficacy that we achieved (in) that changed environment was actually really exciting for us.”
The vaccine, which is plant-based, “uses living plants as bioreactors to produce a non-infectious particle that mimics the target virus, without the use of any viruses,” according to the company. The technology produces Virus-Like Particles (VLP) for the protein vaccines, which mimic the actual coronavirus and can be easily picked up by the immune system. VLPs are not infectious and unable to replicated.
Medicago’s COVID-19 vaccine uses an adjuvant, which is a drug, substance or combination of substances used to amplify a vaccine effectiveness. Ward said Medicago’s vaccine candidate will also come with a lot of firsts.
“It will probably be the first virus-like particle vaccine for COVID, the first Canadian based vaccine for COVID, and it will be the world’s first plant-based vaccine for human use of any kind,” he said.
2:00 Plants key for Canada’s COVID-19 vaccine contender
Plants key for Canada’s COVID-19 vaccine contender – Jan 11, 2021
No serious adverse events were reported during the trials and the Medicago’s trials, which took place in six countries, saw over 24,000 participants participate. Half used the Canadian company’s vaccine candidate with the others using a placebo. The subjects were all 18 and older and were given two doses of the vaccine 21 days apart.
Innovation Minister Francois-Philippe Champagne told the Canadian Press that he was impressed by how Canada has built up vaccine manufacturing infrastructure in a short time. The Canadian government has invested $173 million in Medicago’s vaccine candidate. Medicago’s current production facility is based in North Carolina, but the company is in the midst of building a global production facility in Quebec by the end of 2023.
“We’re seeing a renewed interest in bringing some of that (manufacturing) capacity back into the country,” Ward said. “I think there is a commitment.”
The vaccine was developed in partnership with Medicago British-American vaccine giant GlaxoSmithKline (GSK). For Ward, the phase 3 results show the power of Canadian ingenuity and research if provided the correct resources.
“We’re a small group of people, we’re a small company. And I think probably by a fair stretch we’re one of the smallest companies to successfully run a study of this size and complexity,” he said.
4:28 The made-in-Quebec COVID-19 vaccine
The made-in-Quebec COVID-19 vaccine – Jan 14, 2021
The landscape for vaccines in Canada has shifted from earlier in the pandemic when the country was struggling to secure doses. Now, with over 80 per cent of the population fully vaccinated and vaccines going to waste, Ward thinks Medicago’s vaccine candidate can play a role domestically, albeit a small one.
“Vaccine booster doses are needed to protect people,” Ward said. “There is data that shows mixing vaccines work well, too. I see that being the Canadian application.”
Canada’s National Advisory Committee on Immunization has “strongly” recommended a COVID-19 vaccine booster shot for people 50 and older. The committee also recommended that booster shots of an mRNA vaccine be offered to adults ages 18 to 49 at least six months after their second dose.
Health Canada does have an agreement in place with Medicago for an initial purchase of 20 million doses with an ability to increase to 76 million, if needed. But, to Ward and Medicago, they think that their best way forward will be to provide global vaccine relief after receiving authorization.
“There is a global need for vaccines,” Ward said. “Less than one half of the world’s population has had access to vaccines so far so that there are still billions of doses that are needed. We would like to be able to contribute.”
Even the vaccines produced for Canadians can be used globally depending on the discretion of the federal government, according to Ward.
“Canada would make the decision on how to use those vaccines, and we are in negotiation with other countries,” he said.
TORONTO – Canada Goose Holdings Inc. says it has signed a deal that will result in the creation of its first eyewear collection.
The deal announced on Thursday by the Toronto-based luxury apparel company comes in the form of an exclusive, long-term global licensing agreement with Marchon Eyewear Inc.
The terms and value of the agreement were not disclosed, but Marchon produces eyewear for brands including Lacoste, Nike, Calvin Klein, Ferragamo, Longchamp and Zeiss.
Marchon plans to roll out both sunglasses and optical wear under the Canada Goose name next spring, starting in North America.
Canada Goose says the eyewear will be sold through optical retailers, department stores, Canada Goose shops and its website.
Canada Goose CEO Dani Reiss told The Canadian Press in August that he envisioned his company eventually expanding into eyewear and luggage.
This report by The Canadian Press was first published Sept. 19, 2024.
Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga isn’t over: the Competition Bureau continues to investigate the companies that may have been involved, and two class-action lawsuits continue to work their way through the courts.
Here’s a timeline of key events in the bread price-fixing case.
Oct. 31, 2017: The Competition Bureau says it’s investigating allegations of bread price-fixing and that it was granted search warrants in the case. Several grocers confirm they are co-operating in the probe.
Dec. 19, 2017: Loblaw and George Weston say they participated in an “industry-wide price-fixing arrangement” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau upon discovering anti-competitive behaviour, and are receiving immunity from prosecution. They announce they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price-fixing.
Jan. 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.
Dec. 20, 2019: A class-action lawsuit in a Quebec court against multiple grocers and food companies is certified against a number of companies allegedly involved in bread price-fixing, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (which have all denied involvement, except for Loblaw and George Weston, which later settled with the plaintiffs).
Dec. 31, 2021: A class-action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who bought packaged bread from a company named in the suit is certified against roughly the same group of companies.
June 21, 2023: Bakery giant Canada Bread Co. is fined $50 million after pleading guilty to four counts of price-fixing under the Competition Act as part of the Competition Bureau’s ongoing investigation.
Oct. 25 2023: Canada Bread files a statement of defence in the Ontario class action denying participating in the alleged conspiracy and saying any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods, which is not a defendant in the case (neither is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”
Dec. 20, 2023: Metro files new documents in the Ontario class action accusing Loblaw and its parent company George Weston of conspiring to implicate it in the alleged scheme, denying involvement. Sobeys has made a similar claim. The two companies deny the allegations.
July 25, 2024: Loblaw and George Weston say they agreed to pay a combined $500 million to settle both the Ontario and Quebec class-action lawsuits. Loblaw’s share of the settlement includes a $96-million credit for the gift cards it gave out years earlier.
Sept. 12, 2024: Canada Bread files new documents in Ontario court as part of the class action, claiming Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it’s liable for any price-fixing activity. Maple Leaf refutes the claims.
This report by The Canadian Press was first published Sept. 19, 2024.
Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)
TORONTO – TD Bank Group, which is mired in a money laundering scandal in the U.S., says chief executive Bharat Masrani will retire next year.
Masrani, who will retire officially on April 10, 2025, says the bank’s, “anti-money laundering challenges,” took place on his watch and he takes full responsibility.
The bank named Raymond Chun, TD’s group head, Canadian personal banking, as his successor.
As part of a transition plan, Chun will become chief operating officer on Nov. 1 before taking over the top job when Masrani steps down at the bank’s annual meeting next year.
TD also announced that Riaz Ahmed, group head, wholesale banking and president and CEO of TD Securities, will retire at the end of January 2025.
TD has taken billions in charges related to ongoing U.S. investigations into the failure of its anti-money laundering program.
This report by The Canadian Press was first published Sept. 19, 2024.
