Novax Inc, one of the pioneers in the race to develop the Covid-19 vaccine, receives $ 1.6 billion from the US government, the largest contribution ever from the Operation War Speed Program.
Maryland-based Novax Gaithersburg said in a statement that the funding will allow the company to conduct sophisticated human studies and preparation to deliver 100 million doses by the end of 2020. Shares were up 32% in premarket trading.
Novavax is trying to vaccinate against those novel coronaviruses that are rapidly spreading in countries including the US, India, and Mexico. President Donald Trump's blame motion program is Johnson & Johnson, Merck & Co., Pfizer Inc., Moderna Inc. And supported the efforts of several companies, including AstraZeneca PLC.
Operation Warp Speed usually attempts to compress a process that can last for months. General Gustav Perna, who directs the US Army Material Command and former GlaxoSmithKline PLC executive Monsaf Salon, is leading the trip.
Spike protein
According to the announcement, NovaVox is helping to study the final stage of its vaccine candidate, which will cover more than 30,000 subjects this fall.
The biotech company made $ 388 million from the coalition in May for pandemic-ready innovations, the company's largest contribution at the time. The company's vaccine candidate is intended to provoke the production of antibodies that block "spike" proteins that use coronaviruses to infect host cells.
Separately, Regeneron Pharmaceuticals Inc. The program received a $ 450 million grant from the American Biomedical Advanced Research and Development Authority or Barda. The Tarrytown, N.Y.-based company is using these funds to boost antibody cocktail production to prevent infection.
Analysts expect results from Regener's Antibody Program in the third quarter. Novavax plans to give the first report of its vaccine to patients at the end of this month.
According to the World Health Organization, more than 140 experimental vaccines are being investigated by companies and university researchers. Along with AstraZeneca, Modern, Pfizer and Oxford University are among the companies and institutions that have begun studying their vaccines in healthy patients.
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