InvestorQ : Can you tell me about the COVID vaccine tie up between Serum and Gates Foundation?
Rutuja Nigam made post

Can you tell me about the COVID vaccine tie up between Serum and Gates Foundation?

Answer
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Crowny Pinto answered.
1 month ago


Pune-based Serum Institute run by the highly reputed Poonawala family, has tied up with Gavi and the Bill and Melinda Gates Foundation. The purpose of this tie-up is to accelerate manufacture and delivery of 10 crore doses of vaccines. These vaccines for COVID-19 will be targeted at India and other low income countries to be delivered by 2021.

As part of the tie-up, the Gates Foundation will provide at-risk funding of $150 million to GAVI. This fund will be used by GAVI to support Serum Institute to manufacture the potential vaccine after it is fully approved post the human trials. Serum Institute has set a ceiling price of Rs.225 per dose. This will ensure that the really vulnerable nations do not lag in procuring the necessary vials.

Interestingly, this deal comes at a time Serum Institute of Pune is already planning to undertake late stage human trials on another vaccine candidate that is being jointly developed by Oxford Research and pharma major, AstaZeneca. The DCGI has approved the Serum Institute to go ahead in conducting Phase II and III human clinical trials for this Oxford-AstraZeneca vaccine candidate.