On Jun. 11, 2020, Sinovac Biotech announced the signing of a clinical development collaboration agreement to advance the clinical trials of CoronaVac, Sinovacﾒs inactivated vaccine candidate against COVID-19 to Phase III. Sinovac has received approval from Chinaﾒs National Medical Products Administration (NMPA) to conduct Phase I/II human clinical trials in China to determine the vaccine candidateﾒs safety, tolerance, dosage and immunization schedule.

In addition, Sinovac is constructing a commercial vaccine production plant in China that is expected to manufacture up to 100 million doses of CoronaVac annually.