Helsinki, December 3 (SocialNews.XYZ) The Finnish government has approved the creation of Finnvac Oy, a public vaccine research company.
State ownership will be 51 percent, said a press release from the Ministry of Social Affairs and Health (STM), which is responsible for managing the property. The minority owner will be the holding foundation of the University of Tampere, Finland’s second largest university, Xinhua reported.
The new company will merge the existing commercial vaccine research functions of the Finnish Institute of Health and Welfare (THL) and the Vaccine Research Center at the University of Tampere.
According to the press release, the intention is to secure and strengthen Finnish capacity in vaccine research and to ensure that “well-researched, effective and safe vaccines are available for Finland”. In addition, the aim is to prepare for health risks such as pandemics and to increase investment in research in Finland, the statement said on Thursday.
About 8,000,000 euros ($ 9,000,000) has been received in the state budget for 2021 for the establishment of the company, which is intended to cover the costs of initial capital and pre-training, said the STM. .
Finland maintained its national vaccine production until 2003. Since then Finland has relied on imported vaccines. (1 euro = $ 1.13)