Imperial social enterprise to accelerate low-cost COVID-19 vaccine
Imperial College London has formed a new social enterprise VacEquity Global Health (VGH) to bring its COVID-19 vaccine to the world. For the UK and low-income countries abroad, Imperial and VGH will waive royalties and charge only modest cost-plus prices to sustain the enterprise’s work, accelerate global distribution and support new research. The social enterprise’s mission is to rapidly develop vaccines to prevent SARS-CoV-2 infection and distribute them as widely as possible in the UK and overseas, including to low- and middle-income countries. It is supported by Imperial College London and Morningside Ventures. Morningside is a leading global life science investor founded in 1986 by the Chan family of Hong Kong. In philanthropy, the family’s long-standing commitment to public health is exemplified by itsgift to the Harvard T.H. Chan School of Public Health. As a venture investor, Morningside starts and builds world-class companies to develop innovative science for the public good.