Chinese Sinovac secures $ 515 million in funding for vaccine – Le1

Chinese laboratory Sinovac Biotech, listed in the United States, has secured $ 515 million (424 million euros) in funding from Sino Biopharmaceutical to double the production capacity of its CoronaVac vaccine against the coronavirus, the officials said. businesses Monday.

Reuters

Sino Biopharmaceutical will take a 15.03% stake in Sinovac Life Sciences, Sino Biopharmaceutical said in a filing on the Hong Kong Stock Exchange.

Sinovac said in an independent statement that it would be able to manufacture 300 million doses of vaccine per year.

The laboratory also hopes to complete construction of a second production site by the end of 2020 in order to increase its annual vaccine production capacity to 600 million doses.