Summit raises funds for coronavirus vaccine

World leaders, organizations, and banks have pooled $8.3 billion to back vaccine research and treatment options for COVID-19. The European Commission led a virtual summit to raise the money on Monday. The donors included Canada, France, India, Spain, and others. Officials from the United States and Russia did not attend.

How will this help? In an open letter, European leaders said the alliance will support a coordinated research effort for a vaccine and ensure poorer countries can access treatment for the disease. About 100 vaccine trials are underway around the world, and some have reached the clinical trial stage in Germany and the United States. But it’s too early to say which candidate might prove most effective against the coronavirus.

Dig deeper: Read Dr. Charles Horton’s report on what new antibody testing reveals about the outbreak.