COVID-19 Vaccine Firm Raises Over NZ $1.5 Million in One Hour on PledgeMe

PledgeMe is reporting that over NZ $1.5 million was raised for Covid-19 Vaccine Corporation Limited (CVC) in less than an hour of the securities offering being live on the platform. It appears that the investment was filled from a single individual, according to the offering page for wholesale invesors.

A wholesale investor is an individual investor or firm that qualifies under New Zealand rules.

A simultaneous offering for retail investors is seeking another NZ $2 million with 46 investors currently pledging NZ $62,200.

PledgeMe notes that earlier last month, CVC raised $3.3 million in a private investment round. The funds raised from its current equity crowdfunding campaign will be used for further development and testing of the vaccine.

CVC is in the process of developing the world’s first “biobead” Covid-19 vaccine, taking a different approach to other vaccines in development.

The biobeads are expected to get coated in small amounts of the virus. The body reacts to the biobeads hopefully creating a strong response without harming the host body.

“Previously, we had every reason to believe that we could make the beads coated in part of the virus, but now we have done it,” explains co-founder, Dr. Robert Feldman. “We have encountered huge support from many quarters. We successfully licensed the technology from Polybatics, we were graced with amazing financial support from a group of investors and received an early and hugely helpful Government grant.”

CVC scientists have been working alongside Scion scientists to develop the vaccine at their facility in Rotorua.

“We now have the material that we need to test for production methods, analysis and develop methods to confirm our vaccine is exactly what we say it is. We have what we need for testing, and if everything goes successfully, we have the ‘mother’ of the actual vaccine we will give to the public,” adds Feldman.

The offering pages says the next step is to thoroughly test the vaccine in readiness for a human trial.

“We have raised funds to start that process and now seek further investment through PledgeMe. We hope New Zealanders will be willing to support and invest in what is a very Kiwi endeavour to make a difference in the fight against COVID-19. We have already achieved some important milestones but there are more, high-risk ones to come.”

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