Glencore has provided a $725,000 funding injection to the University of Queensland’s efforts to develop a vaccine for COVID-19.
As researchers around the world race to develop a vaccine for COVID-19, one Australian research team is at the forefront. The University of Queensland has begun their Phase 1 clinical trial involving 120 healthy adult volunteers being given the first dose of the UQ COVID-19 vaccine.
The UQ’s ‘Molecular Clamp’ project uses technology that ensures the vaccine induces an immune response that recognises and then neutralises the virus. The green light to move into the first phase of human trials follows extensive pre-clinical testing and wouldn’t be possible without financial support.
“Philanthropy has played a critical role in our efforts to fast-track an effective vaccine and help save lives across the world,” said Professor Paul Young, co-lead of UQ’s vaccine project.
“With the support of Glencore, government partners and a community of almost 2,600 donors, we have been able to combine clinical readiness with scale-up manufacturing, reducing the timeframe to a vaccine by up to six months.”
Glencore’s funding comes from the company’s Community Support Fund, set up earlier this year to assist communities affected by the COVID-19 pandemic.
“We’re honoured to support the Australian medical sector’s efforts to find a vaccine for COVID-19,” a Glencore spokesperson said.
“The University of Queensland’s research is moving at great speed and, while there is a way to go before the vaccine can be considered a success, we are seeing some encouraging results.
“We hope our funding can make a meaningful contribution to these efforts and will be cheering the team on in the weeks and months ahead.”