Beijing's Sinovac Biotech (NSDQ: SVA) announced positive animal data from its PiCoVacc chemically inactivated COVID-19 vaccine candidate. Sinovac said animals vaccinated with PiCoVacc produced anti-SARS-CoV-2 neutralizing antibody titers similar to those of recovered COVID-19 patients. The vaccine showed no signs of safety issues. Sinovac also announced it has secured land in Beijing and an $8.5 million loan to build a large manufacturing complex for multiple vaccines with one plant capable of 100 million doses of the coronavirus vaccine if it is approved.

"It took one, two weeks for the (local government) decision," a Sinovac official told Reuters, declining to be identified, citing company policy. "Previously, two years wouldn't have been long enough to complete negotiations."

Last week, Sinovac was approved to start clinical trials of its COVID-19 vaccine, after beginning development work on the vaccine in January. Sinovac also intends to test its vaccine paired with the CpG 1018 adjuvant developed by Dynavax (NSDQ: DVAX).

According to BioCentury, there are at least 70 COVID-19 vaccines in development, nine of which are in clinical trials.

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