Alibaba founder donates $14 million to help develop coronavirus vaccine

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(FILE) This photo taken on October 26, 2018 shows co-founder of China's Alibaba Jack Ma gesturing as he attends an international investment conference in Johannesburg. - Jack Ma, founder of Chinese tech giant Alibaba, is among the world's richest people but he has now emerged as a member of another club: China's 89-million-strong Communist Party. In an article on November 26, the People's Daily said Ma was a party member who has played an important role in pushing China's Belt and Road global trade infrastructure initiative -- a pet project of President Xi Jinping. (Photo by STR / AFP)
Agence France-Presse

China’s richest man, Jack Ma, has donated $14 million through his foundation to help develop a vaccine for the new coronavirus, according to a report.

The Alibaba founder will dole out $5.8 million to two Chinese government research organizations with the remaining funds going to support “prevention and treatment” efforts, CNN Business reported.

Drugmaker Johnson & Johnson earlier this week said it’s “pretty confident” the company can find a vaccine.

“We have dozens of scientists working on this so we’re pretty confident we can get something made that will work and stay active for the longer term,” Paul Stoffels, the company’s chief scientific officer, told CNBC.

But he said it could take up to a year for the vaccine to be available on the market.

“We’ll see in the next few weeks how this goes,” Stoffels added, according to the report.

The new coronavirus — which has killed more than 100 people — emerged in the central Chinese city of Wuhan and has no known cure.

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(TodayNg)