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Sinovac Biotech Ltd.

Sinovac Secures $15 Million in Funding to Accelerate COVID-19 Vaccine Development

The funds to be used to further the development of an inactivated vaccine against COVID-19 named CoronaVac. The two investors each loaned USD $7.5 million in the form of a convertible loan that bears interest, or, at the investor’s election, converts into 7.5% of the total equity interest of Sinovac R&D.