Fiocruz, a renowned health research center based in Brazil, has announced a collaboration agreement with China’s Sinovac Biotech Ltd. (NASDAQ: SVA) to jointly engage in the research and development of vaccines. The financial details of the partnership have not been disclosed.
This collaboration comes on the heels of a meeting between Sinovac’s CEO, Yin Weidong, and Brazil’s Minister of Development, Industry, Trade, and Services, Geraldo Alckmin, in Beijing. Following the meeting, Sinovac pledged to invest USD 100 million in Brazil, with a focus on cell therapy, vaccine production, and monoclonal antibodies. This investment is a separate commitment from the recently announced deal with Fiocruz. During the COVID-19 pandemic, Sinovac had previously supplied 110 million doses of its Coronavac vaccine to Brazil.- Flcube.com
