WASHINGTON (Pakistan Point News / Sputnik - 07th July, 2020) The US government has awarded biotechnology firm Novavax $1.6 billion to support the development of COVID-19 vaccines by early next year, the company announced in a press release on Tuesday.
"Novavax has been awarded $1.6 billion by the Federal government to complete late-stage clinical development, including a pivotal Phase 3 clinical trial; establish large-scale manufacturing; and deliver 100 million doses of NVX�CoV2373, Novavax' COVID-19 vaccine candidate, as early as late 2020," the release said.
The funds are being delivered as part of Operation Warp Speed, a US government program that aims to accelerate the development of a COVID-19 vaccine for use by early 2021.
Under the agreement, Novavax will show that it can quickly "stand up large-scale manufacturing and transition into ongoing production," the release said.
The deal will fund the late-stage clinical studies required to determine whether the NVX-CoV2373 vaccine is safe and effective, the release added.
"A Phase 1/2 clinical trial of NVX-CoV2373 in 130 healthy participants 18 to 59 years of age began in Australia in May," the release noted. "Preliminary immunogenicity and safety results are expected at the end of July, and the Phase 2 portion to assess immunity, safety, and COVID-19 disease reduction is expected to begin thereafter. The Phase 1/2 clinical trial is being supported by an up-to $388 million funding arrangement with the Coalition for Epidemic Preparedness Innovations (CEPI)."
The US National Institutes of Health is optimistic that the United States will have a safe and effective COVID-19 vaccine by the end of the year, NIH Director Francis Collins said on Thursday.
US Health and Human Services Secretary Alex Azar has said that January 2021 is the target date for having a vaccine available to the public.
The Trump administration is developing up to five vaccine candidates under its Operation Warp Speed acceleration program with the goal of identifying a safe and effective immunization for COVID-19, and hopes to make as many as 300 million doses available by early 2021.
