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Sinovac gets USD 500 million for Covid-19 vaccine
Published by: Sandy Bhadare at 10 Dec 2020 As the race for a Covid-19 vaccine continues, a subsidiary of Chinese biopharmaceutical company Sinovac B.
As the race for a Covid-19 vaccine continues, a subsidiary of Chinese biopharmaceutical company Sinovac Biotech has secured approximately USD 500 million in funding for the development and manufacture of its Covid-19 vaccine contender, CoronaVac.
The investor, Sino Biopharmaceutical, is a research and development-focused pharmaceutical conglomerate in China.
In return for its significant investment in Sinovac’s subsidiary, Sinovac Life Sciences, it will receive approximately 15% of the total equity interest of Sinovac Life Sciences.