UK Research Fund Seeks $8 Billion for COVID-19 Response

Global research charity Wellcome Trust is asking CEOs of multinational companies to help raise at least $8 billion by the end of the month to cover a worldwide “funding shortfall” for developing and manufacturing COVID-19 vaccines, treatments and diagnostics.

Vaccines would receive $3 billion, therapeutics $2.25 billion and diagnostics $750 million, and an additional $750 million would be put toward a stockpile of essential medical products, the UK-based research fund said.

“Scientists globally are working at tremendous pace to develop vaccines, test existing drugs that could treat COVID-19 and improve diagnostic tests. But they're running out of funding fast, which means new developments may never reach clinical trials and, ultimately, achieve regulatory approval,” Wellcome Trust said.