IMV Inc - CEO, Frederic Ors
CEO, Frederic Ors
Source Fierce Biotech
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  • IMV Inc (TSX:IMV) has identified 23 potentially effective compounds, which could be used in in a COVID-19 vaccine
  • The company is currently working with Research Centre on Infectious Diseases and Canadian Center for Vaccinology to design and conduct a vaccine trail in the coming months
  • Next month, IMV is meeting with Health Canada to submit the trail application and to apply for a number of grants to develop the vaccine
  • IMV is also creating contingency plans for its previously begun drug trials in case the pandemic poses a threat to patients or the trail’s validity. 
  • IMV Inc (IMV) is up 4.74 per cent, with shares trading at C$2.43 and a market cap of $123.2 million

Pharmaceutical company, IMV Inc (TSX:IMV) has begun manufacturing candidates for its potential COVID-19 vaccine.

The company announced two-weeks ago that it was utilising its patented drug delivery system to help develop a potential vaccine for the novel coronavirus.

Development is moving speedily along. The company has identified 23 potentially effective compounds, which could be used in clinical trials against the virus.

Furthermore, IMV is now in collaboration with Gary Kobinger, Ph.D., Director of the Research Centre on Infectious Diseases. Through the centre, the company plans to conduct testing on animal models through April and May of this year.

IMV has also collaborated with the Canadian Centre for Vaccinology to design a potential phase one clinical trial of any successful candidate vaccines.

With the clinical trial designed, IMV is meeting with the Canadian governmental in April to apply for the clinical trial and submit several grant applications.

Frederic Ors, CEO of IMV, said the rapid production of a vaccine is of great importance to the company.

“We remain committed to serving the unmet needs of patients, both through our efforts to potentially develop a prophylactic vaccine to curb this novel coronavirus.

“We are committed to progressing the development of our DPX- COVID-19 vaccine candidate working expeditiously with our partners to advance human clinical studies as fast as possible,” he said.

While attempting to develop the vaccine, the company is also guarding against COVID-19’s impact on its operations.

Like many companies, IMV has implemented social distancing procedures and is asking employees to work from home where possible.

Furthermore, the pressure that the COVID-19 pandemic is expected to have on the Canadian healthcare system is likely to disrupt the company’s ongoing clinical trials.

With this in mind, the company is developing contingencies plans for all ongoing drug trials in case they are interrupted or invalidated by the pandemic’s affects.

IMV Inc (IMV) is up 4.74 per cent, with shares trading for C$2.43 at 3:31pm EST.

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