No-jab Djokovic’s huge stake in firm developing Covid drug
HE was kicked out of Australia after refusing to be vaccinated. Now Novak Djokovic seems to be pinning his hopes on helping find a cure for Covid-19.
For the tennis star and his wife hold a majority stake in a biotech firm aiming to develop a treatment for the virus.
They bought 80 per cent of Danish company QuantBioRes in June 2020, its boss has revealed. Djokovic, 34, was deported from Melbourne last weekend after losing a visa battle to stay to defend his Australian Open title.
Entrepreneur Ivan Loncarevic, chief executive of QuantBioRes, confirmed Djokovic’s investment but declined to say how much the stake was purchased for.
Mr Loncarevic said the firm is developing a peptide which inhibits the virus from infecting human cells and stressed it would be a treatment, not a vaccine.
Its website says testing of a ‘deactivation mechanism’ for coronavirus began in July 2020. Around a dozen researchers are working on the project in Slovenia, Australia and Denmark, with clinical trials expected to begin in Britain this summer, Mr Loncarevic said.
The company register reveals that world No 1 Djokovic owns 40.8 per cent of the firm while his wife Jelena, 35, has a 39.2 per cent stake. It adds that the Serbian tennis star has the right to appoint management members and approve dividend payments.
The latest accounts, for the year ending December 2020, show QuantBioRes made a loss.
‘The company is in a development phase and thus has no revenue,’ the financial report said. ‘The shareholders have stated that they will support the continued development for the coming financial year.’ Djokovic had estimated winnings of nearly £7million last year, with Forbes magazine putting his off-court earnings at £22million. He is said to be worth £160million.
The six-times Wimbledon champion believed he had a valid medical exemption from previous infection that would allow him to enter Australia. Border officials disagreed, cancelling his visa and detaining him in a notorious hotel used by asylum seekers.
A judge overturned that decision, but the government revoked Djokovic’s visa again, arguing his presence could fuel anti-vaccine sentiment. He was deported on Sunday, dashing his dreams of winning a record 21st Grand Slam.
Doubts have been cast over his ability to compete in other major tournaments. French officials say players at the French Open in May will have to be fully vaccinated.
Djokovic also came under fire for attending public events after he had tested positive for Covid.