Biovac, a South African biopharmaceutical company, has launched the country’s first clinical trials for a cholera vaccine.
The new development will pave the way for quick access to the vaccine and end reliance on imported vaccines, which have been heavily relied on too.
The International Finance Corporation (IFC) has also played a crucial role in ensuring that Biovac takes the lead on growth.
To expand, Biovac entered into partnerships with the Industrial Development Corporation (IDC) and the European Investment Bank (EIB).
IFC committed a loan of $7 million to Biovac to expand its operations, including advisory services for the establishment of a new multi-vaccine manufacturing plant in Cape Town. Once built, the plant will increase its production by introducing between four to five new vaccines.
