Chinese Clover Biopharmaceuticals, a Bill Gates-backed coronavirus vaccine developer, managed to raise $240 million in its initial investment call. The company will accelerate work for a COVID-19 vaccine.
Chinese vaccine maker Clover Biopharmaceuticals raised $240 million in its first investment call in Hong Kong on Thursday.
Clover’s two-dose vaccine, called SCB-2019, contains non-hazardous COVID-19 fragments to stimulate immunity. In 2007, a former Vanderbilt University biochemistry Prof. Dr. The company founded by Peng Liang shared the results of Phase 2 and Phase 3 trials of the COVID-19 vaccine in September.
Trials on five continents involving approximately 30,000 people revealed that the vaccine was 67 percent effective in preventing COVID-19 infections and 100 percent effective in preventing serious cases and deaths. However, it is 58 percent effective against the Mu variant, compared to 79 percent against the Delta variant.
“With our protein-based COVID-19 vaccine candidate, we hope to meet the significant global need for COVID-19 vaccines,” the company said in a statement. He also stated that plans have begun for the production of hundreds of millions of doses of covid-19 vaccines. Considering that the new vaccine performs well against the Delta variant and receives a large investment, the global vaccine campaign could accelerate further.