Canada is ready to smash the coronavirus by investing an additional $1.1 billion in researching and testing to find a vaccine.

Prime Minister Justin Trudeau announced today that Canada is pouring a lot more funding into research, clinical trials and testing.

Speaking in Ottawa, Prime Minister Justin Trudeau announces funding for #COVID19 research and testing:

—$115M for research into vaccines & treatments
—$662M for clinical trials
—$350M to expand national testing & modelling, including creation of immunity task force#cdnpoli pic.twitter.com/NzTYGYVDsF

— CPAC (@CPAC_TV) April 23, 2020

"These are tough times, but there is reason to hope," said Trudeau during a press conference today.

"We're putting in place an additional $1.1 billion dollars for a national medical and research strategy to address COVID-19."

The plan includes three aspects, including research on vaccines and other treatments, support for clinical trials and expanding national testing and modelling.

Trudeau said that $115 million will go to research for vaccines and treatments being done by hospitals and universities across Canada.

Another $622 million will go to clinical trails meant to test these vaccines and treatments.

"A vaccine is the long term solution to this virus," he said, "but these drugs will take months to develop, test, fabricate and roll out."

Finally, $350 million will be invested to expand national testing and modelling, which includes the creation of the COVID-19 Immunity Task Force lead by a group of doctors who will use serology and blood testing to track immunity to the virus.

At least a million Canadians are expected to participate in a study over two years that will help understand if people who've been infected are immune to the virus and how long the immunity lasts.

The Canadian government has already invested $192 million into developing a vaccine for the virus while researchers around the country have begun to show progress.