Covid-19 Vaccine Corporation raises more than $1.5 million in equity crowdfunding in under an hour

12 November 2020

Auckland: This morning New Zealand’s Covid-19 Vaccine Corporation (CVC) launched its historic equity crowdfunding $3.5 million campaign on PledgeMe. In under an hour, the company had met its $1.5 million wholesale investment target, with more than $30,000 in retail investment pledges.

The company is seeking $2 million in retail investment, and is currently sitting at $61,100 (and growing).

“We are absolutely delighted by the support we have received. From the beginning, we were humbled by the millions of dollars private investors generously put into our work, which was theory at the time; not just as a testament to their belief in us, but also their personal desire to help support the fight against the pandemic,” says Co-founder and Chief Executive Dr Robert Feldman.

The company is making the world’s first biobead vaccine, using unique New Zealand technology it licenced from Massey University’s Polybatics. In October, it was able to successfully produce its specific vaccine biobead required, for further testing and development.

This biobead will be coated in a small part of the Coronavirus, marking a key milestone in CVC’s vaccine producing efforts. To date, the company has raised $4.3 million in private investment, including a preliminary government grant.

“Right from the start, we set out to do something different. Strongly of the belief that rushing vaccines to the market would not be a good idea, we agreed to work towards building a vaccine candidate that is safe above all, provides wide immune coverage, and is cost efficient to produce and distribute,” says Dr Feldman.

“This way, it is accessible to all New Zealanders and global citizens who need it,” he adds.

Made of New Zealand’s top vaccine producers, if successful, CVC’s vaccine candidate will position New Zealand as a leader in the fight against Covid-19.

“We’re excited to be able to involve every day New Zealanders in our efforts, reinforcing what is truly a Kiwi story: Kiwis building a Kiwi vaccine using Kiwi technology, for Kiwis and the world,” Dr Feldman says.

If successful in raising the full $3.5 million in equity crowdfunding, CVC would have raised $7.8 million equity it forecasts us required to perform a clinical trial.

To follow CVC’s retail investment page on PledgeMe see here.

To follow CVC’s wholesale investment page on PledgeMe see here.

Equity Offer:

From NZ $1,000,000 for 8.7% up to NZ $2,000,000 for 15.9%.

Share Offer:

Up to 2,500,000 Shares at NZ $0.80 per Share.