Serum Institute of India (SII) is expanding its vaccine business in the United Kingdom with an investment of £240 million. The serum has already started phase one trials in the UK of a one-dose nasal vaccine for coronavirus, in partnership with Codagenix INC. This was a part of the £533 million of new Indian investment in the UK in growing sectors such as health and technology.
Serum’s investment will support clinical trials, research & development and possibly manufacturing of vaccines. This will help the UK and the world to defeat the coronavirus pandemic and other deadly diseases.
Important takeaways for all competitive exams:
- The SII was founded by Cyrus Poonawalla (Adar Poonawalla’s father) in 1966.
- Adar Poonawalla joined the Serum Institute of India in 2001 and became the CEO of the company in 2011.