Canadian vaccine manufacturer Medicago are "quietly confident" that their shot could be ready for an authorization request by summer of this year.
According to The Canadian Press, Medicago's executive vice-president for scientific and medical affairs says that the jab produces more than 10 times the antibodies than those who were infected by COVID have.
"So based on these results, let's say we're quietly confident that we will be in a position to demonstrate good efficacy of the vaccine," she said.
Phase three trials have already started with some 30,000 volunteers in Canada, the US, the UK, and soon, Brazil.
In 2018, then-Innovation Minister Navdeep Bains said that Canada invested large amounts in fundamental sciences that are now playing a major role in the way Canada fights the coronavirus.
"We've identified several projects for investment," said Bains. "The University of Saskatchewan's international vaccine centre... is one of the world's most advanced infectious disease facilities."
The federal government granted $23 million for a Saskatchewan lab to develop human vaccines for animal-based viruses such as the coronavirus, which has suspected origins in bats, snakes, or pangolins.
The federal government has since prioritize direct support to large scale projects like Vancouver's Accerla Pharma, and Quebec City's Medicago.