Shares of Anges surged as much as 17% in morning trade in Tokyo, compared with a 5.3% gain in the broader market.
Anges, a drug-discovery company launched out of Osaka University, announced its collaboration with the school on a coronavirus vaccine on March 5. DNA vaccines are produced using an inactivated virus and can manufactured faster than protein based vaccines, according to the company statement.
Global pharma companies are racing to develop vaccines and treatments for coronavirus, which has reached 350,000 cases globally and resulted in over 15,000 deaths.
In Japan, market leader Takeda Pharmaceutical Co is working on a plasma-derived therapy, while the active ingredient in Fujifilm Holdings Corp’s Avigan anti-flu drug is being tested as a treatment in China. [nL4N2BG4MK]
https://www.reuters.com/article/us-health-coronavirus-japan-anges/pharma-firm-anges-and-osaka-university-to-begin-testing-coronavirus-vaccine-on-animals-idUSKBN21B019
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