$1.5m raised in less than an hour for COVID-19 Vaccine Corporation Ltd

$1.5m raised in less than an hour for COVID-19 Vaccine Corporation Ltd

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PledgeMe says that at 9 am this morning, NZ’s COVID-19 Vaccine Corporation Limited (CVC) started a campaign, which was looking to raise up to $3.5m.

Within an hour, the wholesale campaign met its $1.5m target — $35,00 was raised in the $2m equity crowdfunding campaign.

CVC is developing the world’s first biobead COVID-19 vaccine, which takes a different approach to other vaccination development orgs.

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The biobead vaccine gets coated in small amounts of the virus, a feat that the CVC team wanted to achieve before it’d be distributed out to the public.

Co-founder of CVC, Dr Robert Feldman, says before they’d managed to develop the biobeads, everything they were doing was purely theoretical.

“Previously, we had every reason to believe that we could make the beads coated in part of the virus, but now we have done it.”

“We have encountered huge support from many quarters. We successfully licensed the technology from Polybatics; we were graced with amazing financial support from a group of investors and received an early and hugely helpful Government grant.”

Scientists behind CVC have been working alongside Scion scientists to develop the vaccine at their facility that’s based in Rotorua.

“We now have the material that we need to test for production methods, analysis and develop methods to confirm our vaccine is exactly what we say it is. We have what we need for testing, and if everything goes successfully, we have the ‘mother’ of the actual vaccine we will give to the public,” says Dr Feldman.

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