Fiocruz and Sinovac announce cooperation in vaccine R&D

At a meeting with Brazil’s Vice President and Minister of Development, Industry and Commerce Geraldo Alckmin, in Beijing, Chinese vaccine developer Sinovac Biotech (Nasdaq: SVA) announced that it will invest $100 million in the development of cell therapy, vaccine production and monoclonal antibodies in Brazil.

Sinovac and Brazil’s Fiocruz also announced their intention to cooperate in the research and development of vaccines to tackle health crises.

Mr Alckmin celebrated the partnership with Fiocruz, recalling that Sinovac had previously collaborated with Brazil, specifically the Butantan Institute. "I took CoronaVac," said the Vice President, citing the immunizer that helped save thousands of Brazilians during the COVID-19 pandemic. "Science helps the world and we have to advance even further, we have to work together, and so I welcome Sinovac's willingness to invest in Brazil," he said.