China's Covid-19 vaccine Sinovac gets $500 mn in funding for development
China's Sinovac Biotech said that it had secured approximately $500 million in funding for Covid-19 vaccine development
 "China's Covid-19 vaccine Sinovac gets $500 mn in funding for development")
SHANGHAI (Reuters) - China's Sinovac Biotech said on Monday that it had secured approximately $500 million in funding for COVID-19 vaccine development.
In a statement on its website, the company said it expects to be able to manufacture 300 million vaccine doses annually, and that it aims to complete construction of a second production facility by the end of 2020 to increase annual COVID-19 vaccine production capacity to 600 million doses.
Sinovac said the investor is Sino Biopharmaceutical Ltd.
(Reporting by Andrew Galbraith; Editing by Sam Holmes)
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