Italy ready to fund ReiThera COVID-19 vaccine project, minister says

MILAN: Italy's government revived hopes of producing the country's own COVID-19 vaccine on Friday when it said it was ready to finance the ReiThera project despite a court ruling rejecting a plan to pump public funds into the local biotech company.

Italy's state audit court on Friday raised objections to the public financing for the project, throwing its future into doubt. The court said of the 50 million euros ($60.96 million) of public money directly pledged for ReiThera, too little was dedicated to the research and production of the vaccine and too much to a general strengthening of the company, including the purchase of its headquarters.