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With $54 million USD from Colombian insurance conglomerate Sura, Jorge Emilio Osorio Benitez is launching biological pharma company VaxThera to produce vaccines and other medical therapies within Latin America.

Oxitec's genetically modified mosquitos produce offspring that will "inherit a self-limiting gene that causes them to die before reaching functional adulthood."

An open call for proposals is underway until July 5, and the best of the best will be selected to head to Buenos Aires in November to compete for various rewards.

Last week, Colombian President Juan Manuel Santos visited US President Barack Obama in the White House to discuss ongoing issues, and commemorate 15 years of US diplomatic, military, and social aid to Colombia via the package known as Plan Colombia. Colombia and Chile are the...