China steps up inactivated COVID-19 vaccine development
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • China has just gained approval for a potential coronavirus vaccine to begin testing on humans
  • The potential vaccine was developed by Chongqing Zhifei Biological Products, and co-developed by Anhui Zhifei Longcom Biopharmaceutical and the Institute of Microbiology of the Chinese Academy of Sciences
  • Its one of several vaccines being tested around the globe, in a bid to eradicate the deadly virus, which has killed close to half a million people

Chongqing Zhifei Biological Products’ unit has announced it has been given the green light from China to test its potential COVID-19 vaccine on humans.

Reuters reports the company revealed it had received a certificate from China’s National Medical Products Administration to launch clinical trials today.

If the trials are successful, the vaccine would then need to receive regulatory approval, before being manufactured and sold.

So far, none of the potential vaccines being developed have passed the necessary clinical trials.

Today’s exciting development comes as the World Health Organisation revealed on Sunday, 183,000 new cases of COVID-19 were recorded, the highest number of infections recorded in a single day since the outbreak started.

That jump in infections includes previously safe countries, like Germany and Australia, who had both begun easing coronavirus restrictions.

To date, more than 8.86 million people have contracted COVID-19, with the number of confirmed deaths sitting at over 465,000.

Currently, the only known treatment, not vaccine, of coronavirus is a cheap steroid called dexamethasone.

The drug has proven to reduce deaths in critically illy patients.

WHO has called for production of dexamethasone to be boosted, while the world waits for a vaccine.

More From The Market Online

Aussies warned sudden blaze at one of country’s two operating oil refineries ‘will impact’ fuel supplies

Australians have been warned a fire that’s broken out in Geelong at one of Australia’s two operational oil refineries “will have an impact”
SHRUG

ASX jumps +2.6% higher on Tuesday as Iran war rolls on. Have markets moved on?

I have a feeling I mightn’t be the only person surprised by today’s moves on the ASX, the most recent closing moves on
Sink your teeth into this bad boy

The Aussie market’s been hungry for a good news story. And today, it got one. Will it last?

Let’s start with the most important info: I am currently writing this at 12.30PM Sydney time (9.30AM for me in Perth), and so...