This funding will support the de-risk manufacturing of AstraZeneca and Novavax candidate vaccines, which will be available for purchase if they are fully licensed and pre-qualified by the WHO, according to the statement.
The Bill & Melinda Gates Foundation, through its Strategic Investment Fund, will provide Gavi with $ 150 million de-risk funding, which would support the Serum Institute of India in the manufacture of potential vaccine candidates and the future acquisition of vaccines for low- and middle-income countries.
CEO of the Serum Institute Adar Poonawalla told the Press Trust of India that through this partnership, they seek to increase constant efforts to save the lives of millions of people from this terrible disease.
This institution has a long history of partnering with Gavi and pharmaceutical companies to make vaccines that protect people against meningitis, severe diarrhea, pneumonia, and measles.
We are very excited to join this partnership to respond to the global Covid-19 health crisis, said Renu Swarup, Secretary of the Department of Biotechnology of the Government of India.
Director-General of the Indian Council of Medical Research Balram Bhargava said that this partnership is a further step in India’s efforts to strengthen the fight against this global pandemic. The vaccines will have a maximum price of three dollars per dose and will be made available for 92 countries.