On August 8th, according to foreign media reports, on Friday, local time in the United States, the Bill and Melinda Gates Foundation announced that it would provide 150 million US dollars in venture capital to support the Indian Serum Institute to produce by Oxford University and American Biotechnology.
The two new coronavirus vaccines developed by the company Novavax, on condition that the Pune-based research institute can only set the price of these two vaccines at $3 per dose .
Pictured: Novavax, a US biotechnology company, has signed a supply and licensing agreement with the Serum Institute of India to develop and commercialize its new coronavirus vaccine
According to the agreement, the Serum Institute of India will receive funding from the Gates Foundation through GAVI (Vaccine Alliance) and become part of the Gavi Covax Advance Market Commitment (AMC) mechanism to promote equitable access to vaccines in India and other low- and middle-income countries.
This cooperation using the “Strategic Investment Fund” of the Gates Foundation will provide upfront capital to the Serum Institute of India to help them improve their manufacturing capabilities so that once the vaccine is approved by the regulatory authorities and prequalified by the World Health Organization, it will be as early as 2021 Up to 100 million doses of vaccine can be mass-produced in the first half of the year and distributed to India and other countries.
Adar Poonawalla, head of the Serum Institute of India, said in a statement: “In order to ensure maximum immunization coverage and contain the epidemic, it is important to ensure that the most remote and poorest countries in the world Access to affordable treatment and preventive measures. Through this collaboration, we seek to increase our ongoing efforts to save millions of lives from this terrible disease.”
The transaction builds on the memorandum of understanding announced in June between AstraZeneca and Gavi, the world’s leading pharmaceutical company, which will guarantee the supply of 300 million doses of AstraZeneca vaccine candidates to a wider range of countries and regions. These vaccines will be available after approval or prequalification.
Gavi Covax AMC is currently seeking at least US$2 billion in initial seed funding to cover the procurement cost of at least part of the vaccine dose. Last week, the Gavi Board of Directors agreed on a final list of 92 countries and regions that AMC will support.
According to the cooperation agreement, if the vaccines jointly developed by Oxford University and AstraZeneca are successful, they will be provided to 57 countries and regions eligible for GAVI, including India, and Novavax’s vaccine candidates will be provided to all 92 countries supported by AMC He area.
The Serum Institute of India signed an agreement in June to provide 1 billion doses of Oxford vaccine to low- and middle-income countries, and signed an agreement with Novovax on Thursday to produce at least 10% for India and other low- and middle-income countries. 100 million doses of candidate vaccine NVX-CoV2373.
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