Vancouver-based AbCellera will receive up to $125 million in funding from the Canadian government to identify antibodies for use in drugs to treat COVID-19.

The company has already identified more than 500 anti-SARS-CoV-2 antibodies in collaboration with the National Institute of Allergy and Infectious Diseases.

AbCellera previously announced a partnership with Eli Lilly to develop a COVID-19 treatment. Under that collaboration, Lilly will independently fund and lead clinical development and testing of potential therapeutics. Clinical trials are expected to get underway in July.