UK pledges £544 million to find coronavirus vaccine

The UK government has pledged £544 million including an additional £210 million support to accelerate the work to find a coronavirus vaccine in an announcement following the virtual summit of G20 leaders.

The funding will ensure British scientists and researchers continue to lead the global fight against the virus. The total contribution makes the UK the biggest contributor to the Coalition for Epidemic Preparedness Innovations (CEPI) -- the international coalition to find a vaccine.

British Prime Minister Boris Johnson said: "While our brilliant doctors and nurses fight coronavirus at home, this record British funding will help to find a vaccine for the entire world. UK medics and researchers are at the forefront of this pioneering work."

Acting High Commissioner to India Jan Thompson said, "This important announcement demonstrates the UK's continued commitment to finding a coronavirus vaccine alongside our key international partners. We already have a strong record of research collaboration with India. At a time like this, international collaboration is more important than ever."

The additional package of funding will go towards producing rapid tests for coronavirus and testing and developing medicines to treat the disease, for use in the UK and around the world. Quickly identifying those with coronavirus and having the means to treat those most affected will be pivotal in bringing down the number of people killed, said a statement.

£210 million is for the new funding for the Coalition for Epidemic Preparedness Innovations in addition to £40 million already given to the organisation. It will help scientists and researchers continue to lead global efforts to develop a workable coronavirus vaccine, including at the University of Oxford.

The other £40 million has been contributed to develop affordable treatments for coronavirus patients. This will support the Therapeutic Accelerator, a fund for the rapid development of antiretrovirals or immunotherapies against coronavirus which is already backed by the UK-based Wellcome Trust, the Bill & Melinda Gates Foundation and Mastercard. It aims to make 10 million treatments available in the coming months globally, including in the UK.

Furthermore, £23 million has been contributed to further develop easily-manufactured testing devices. This is additional funding for the Foundation for Innovative New Diagnostics, a partnership between academic organisations and pharmaceutical companies which will build rapid testing technology like the new prototype test developed by the Mologic lab in Bedford, which is currently funded by the UK.

As per the WHO over 542,378 confirmed cases have been reported worldwide and over 24,368 people have lost their lives to the infectious Coronavirus.