NZ covid vaccine developer shuts up shop after funding evaporates

The vaccine was being developed to cover every variant of the virus and for delivery by any method. (Image: CVC)

Wed, 03 May 2023

After spending $5 million from wealthy investors and receiving close to $1m in government grants, Auckland-based Covid 19 Vaccine Corporation (CVC) has shut up shop after failing to secure a further $12m for its first human trial.The vaccine was being developed to cover every variant of the virus and for delivery by any method.The wealthy NZ investors, including richlister Guy Haddleton, pledged the initial finance for the venture developed by life scientist and medical practitioner Robert Feldman and his co-founder, Nelson-based Andy Herbert,...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Finance

What now for governor appointment as RBNZ chair resigns

The Reserve Bank has been without a permanent governor appointment for months.

Dileepa Fonseka 8:30pm

Economy

Reserve Bank chair Neil Quigley resigns

Quigley had come under pressure in recent days.

Staff reporters 6:00pm

Markets Market Close

Delegat provides a bubbly end to NZ reporting season

Delegat Group rallied 39c to $4.05 despite a 14% profit decline.

Jamie Gray 6:00pm

Delegat provides a bubbly end to NZ reporting season

Sponsored

A two-track approach to cracking NZ’s EV charging puzzle

Z Energy aims to support easing adoption bottlenecks by targeting the distinct needs of habitual and journey EV drivers.

Z Energy

Sponsored

AI efforts risk failure without clear business goals – Spark

It’s time for New Zealand businesses to move beyond AI experiments and start delivering measurable value.

Spark

More Health

Health

Bank breach and books blunder spur PWL rebuild

Management discovered the error in 2024, which involved double-counting inventory.

John Anthony 18 Aug 2025

Markets

Radius Care upgrades earnings guidance

Radius Residential Care has upgraded its earnings outlook ahead of its annual shareholders’ meeting on Thursday.The listed aged-care specialist said it now expects underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) for the six months to October to...

Staff reporters 07 Aug 2025