SHANGHAI (Reuters) – China’s Sinovac Biotech said on Monday that it had secured approximately $500 million in funding for COVID-19 vaccine development.
In a statement on its website, the company said it expects to be able to manufacture 300 million vaccine doses annually, and that it aims to complete construction of a second production facility by the end of 2020 to increase annual COVID-19 vaccine production capacity to 600 million doses.
Sinovac said the investor is Sino Biopharmaceutical Ltd..
(Reporting by Andrew Galbraith; Editing by Sam Holmes)
