London University Forms Startups to Boost Vaccine Development
London University Forms Startups to Boost Vaccine Development
(Bloomberg) --
Imperial College London is setting up a new enterprise to distribute a potential Covid-19 vaccine at a lower price.
The British university, together with partner Morningside Ventures, will waive royalties and charge only “modest cost-plus prices” to sustain the enterprise’s work, according to a statement on Sunday. The enterprise will be called VacEquity Global Health.
Another company, VaXEquity, is also being launched to accelerate the manufacturing scale of the vaccine.
“These new enterprises are the most effective way for us to deliver Covid-19 vaccines quickly, cheaply and internationally, while preparing for future pandemics,” said Professor Robin Shattock, head of mucosal infection and immunity at Imperial and co-founder of the two companies.
Imperial College says it has received more than 40 million pounds ($51 million) of public money to develop the coronavirus vaccine, and 5 million pounds from donors. The vaccine is to enter phase one/two human trials on June 15.
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