A team of British scientists developing a coronavirus vaccine has set up a special company to distribute it if they are successful, rather than partnering with a big pharmaceutical company, to ensure access for the world’s poorest.
The scientists from London’s Imperial College hope to bring a low-cost vaccine to the world early next year via a social enterprise — a company that seeks to do good as well as making a profit.
“Right now we think the focus should be on how to solve the problem rather than how to make money out of it,” said Simon Hepworth, director of enterprise at Imperial.
“Social enterprise fits with our mission – applying scientific discoveries for the benefit of society,” he said.
The social enterprise, called VacEquity Global Health (VGH), is backed by Imperial College and Hong Kong-based Morningside Ventures, which invests in companies that use innovative science for public good.
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