ISLAMABAD: A COVID-19 vaccine developed by CanSino Biologics Inc (CanSinoBIO) showed 65.7% efficacy in preventing symptomatic cases, and 90.98% efficacy in stopping severe disease in interim multi-country trial results, Pakistan's Health Minister Faisal Sultan said on Monday.
The vaccine, jointly developed by a research institute affiliated with the Chinese military, follows two competing shots from Chinese companies Sinovac and state-backed Sinopharm that showed efficacy of between 50% and 91%.
Although vaccines from Chinese developers have shown lower protection rates than some Western products, and no detailed study results are publicly available yet, they have already been approved in several developing countries battling a surge in coronavirus infections.
The efficacy of CanSinoBIO's vaccine, the one-dose Ad5-nCoV, is based on analysis of 30,000 participants and 101 cases of COVID-19, the minister said on Twitter, quoting data from an independent data monitoring committee.
In the Pakistani subset, efficacy of the CanSinoBIO vaccine at preventing symptomatic cases was 74.8% and 100% at preventing severe disease, Sultan added.
CanSinoBIO was not immediately available for comment.
CanSinoBIO's COVID-19 dose 65.7% effective in large trial — Pakistani official
https://arab.news/c8uxj
CanSinoBIO's COVID-19 dose 65.7% effective in large trial — Pakistani official
- Vaccine 90.98% effective in stopping severe disease in interim multi-country results
- Vaccines from Chinese developers have shown lower protection rates than some Western products
Pakistan finmin meets venture capital firm Gobi as $50 million tech fund proposed
- Techxila Fund II aims to empower Pakistani startups in fintech, e-commerce, logistics, supply chain sectors
- Finance Minister Muhammad Aurangzeb reaffirms commitment to strengthen venture capital landscape
KARACHI: Finance Minister Muhammad Aurangzeb met a delegation of the global venture capital firm Gobi Partners on Thursday during which it proposed a $50 million tech fund to empower Pakistani startups, the Finance Division said.
Gobi Partners is a prominent Malaysia-based venture capital firm. Founded in 2002, the firm says it has more than $1.6 billion in assets under management and invested in over 400 companies across 16 locations in Asia.
Aurangzeb held a meeting with a high-level Gobi Partners delegation, which included its Chairman Thomas Tsao, Managing Partner Naiel Ikram and Investment Associate Abraiz Abdullah at the Finance Division.
The delegation briefed the finance minister on Gobi’s regional footprint and its investments in Pakistan through the Techxila Fund I, which was launched in 2020 and has supported startups across fintech, e-commerce, and digital infrastructure, the Finance Division said.
“Gobi Partners also shared a plan regarding Techxila Fund II, with a proposed target size of USD 50 million, aimed at investing in high-potential sectors including fintech, logistics, health technology, and software services,” the Finance Division said.
“The firm expressed its intention to anchor the fund with its own capital and mobilize participation from domestic and international institutional investors.”
The Techxila Fund II aims to empower startups in Pakistan as well, focusing on fintech, e-commerce, logistics and supply chain and health tech, according to an earlier statement from Gobi Partners.
Aurangzeb underscored the Pakistani government’s commitment to strengthening its venture capital and innovation landscape, saying it is a part of its broader strategy to promote private sector-led growth, deepen financial markets and support technology-driven economic diversification.
The delegation highlighted the importance of further strengthening the enabling framework for venture capital in Pakistan, the Finance Division said.
“In this regard, they suggested encouraging greater participation by domestic financial institutions in venture capital and private equity, as well as considering tax pass-through status for venture capital and private equity fund investments to facilitate local investor participation,” it added.
The meeting takes place amid Pakistan’s aggressive attempts to increase foreign investment in recent years. The South Asian country has aimed to consolidate recent economic gains such as lower inflation and higher foreign exchange as it targets sustainable economic growth.
