FACT CHECK: Does The Trudeau Foundation Own 40 Percent Of Acuitas Therapeutics?

Elias Atienza | Senior Reporter

An image shared on Instagram claims the Pierre Elliott Trudeau Foundation owns 40 percent of Acuitas Therapeutics, a company that manufactures lipids for Pfizer.


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A post shared by Scott M. Reece (@scottmreece1)

Verdict: False

There is no evidence the Pierre Elliot Trudeau Foundation owns part of Acuitas Therapeutics. Internal company documents reviewed by the National Post prove the foundation has no ownership stake in the company.

Fact Check:

Multiple viral posts are claiming Acuitas Therapeutics, a company that manufactures lipid nanoparticles for mRNA vaccines and other nucleic acid payloads, is partially owned by the Trudeau Foundation. The foundation, named in honor of the late Canadian Prime Minister Pierre Trudeau, describes itself as an “independent and non-partisan charity established in 2001 as a living memorial to the former prime minister” and focuses on developing leadership skills in its fellows and scholars.

“BREAKING: It’s been confirmed that Trudeau’s foundation owns 40% of Acuitas Therapeutics which makes mechanic lipids for Pfizer,” reads text included in one such post. (RELATED: Is The Ottawa Police Force Exempt From The COVID-19 Vaccine Mandate?)

There is no evidence the charity owns any stake in Acuitas Therapeutics. Check Your Fact did not find any reporting from Canadian news outlets such as CBC and the National Post to corroborate the claim. Neither the Trudeau Foundation nor Acuitas Therapeutics mentions any connection between the two on their respective websites.

“Acuitas Therapeutics is a privately owned British Columbia company and neither Prime Minister Trudeau nor the Trudeau Foundation owns or has owned shares or has any interest in the company,” reads a statement from Dr. Thomas Madden, the company’s president and CEO, provided to Check Your Fact. “There is no connection between the Prime Minister and/or the Trudeau Foundation and Acuitas Therapeutics.”

A spokesperson for the Prime Minsiter’s Office likewise denied the claim in an email to Check Your Fact. Canadian Prime Minister Justin Trudeau claims to have severed ties with the foundation upon being elected to public office, according to CBC.

The National Post reported that it was granted access to Acuitas Therapeutics’ ownership registry and found no indication that Trudeau or the Trudeau Foundation had any ownership in the company. Rather, the document indicated that “most of the shares are controlled by the three founders and the rest by senior employees, board members and holding companies set up by employees for income-tax purposes,” according to the outlet. Reuters also examined the registry and noted that neither Justin Trudeau nor the Trudeau Foundation was listed in the document.

Elias Atienza

Senior Reporter
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