Sinovac, a Chinese Biotech company along with Instituto Butantan, a Brazilian producer of "immunobiologic" products announced today a joint agreement to conduct Phase III testing of Sinovac's COVID-19 vaccine, CoronaVac.

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Recently, Sinovax published their findings in Science demonstrating the safety of their vaccine in rhesus monkeys. China’s National Medical Products Administration (NMPA) approved Sinovac to conduct Phase I/II testing on humans in China while Instituto Butantan sponsors Phase III testing in Brazil.

According to a press release this morning,

This is the first in a series of agreements expected to be completed between the parties to establish extensive collaboration that includes technology licensing, market authorization and commercialization of CoronaVac. In this way, Instituto Butantan can ensure that the Brazilian population has access to this vaccine.

The partnership hopes to produce 100M doses of the vaccine annually.

"This pandemic is having a tragic impact worldwide," said Dr. Dimas Covas, Director of Instituto Butantan, "and this distinguished alliance with Sinovac to conduct the last phase of the clinical trials will bring hope to have a vaccine in the short term. Butantan expects to support not only on the clinical development, but also commercialization and manufacturing activities of CoronaVac in Brazil."

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, commented, “We are proud to take part in the fight against COVID-19, and we look forward to working with Instituto Butantan to help the people of Brazil. Through this partnership, Sinovac will be able to further the unprecedented speed of developing CoronaVac without compromising our high safety standards and procedures. We also welcome this opportunity to further our commitment to developing vaccines for global use and to our mission of supplying vaccines to eliminate human diseases.”