The US on Tuesday announced it was providing $1.6 billion in funding for the development and manufacture of a COVID-19 vaccine candidate produced by biotech
Separately, the US also said it was providing $450 million to Regeneron for its experimental COVID-19 treatment and prophylaxis, a combination of two antibodies. Under the terms of its agreement with the Department of Health and Human Services and Department of Defense, Novavax agrees to deliver 100 million doses of its vaccine, potentially by the end of the year.
The final stage Phase 3 trial of its vaccine, called NVX-CoV2373, is set to take place this fall. The Maryland-based company uses insect cells to grow synthesized pieces of the SARS-CoV-2's"spike protein," which the virus uses to invade cells, in order to trigger the human body's immune response. The amount awarded to Novavax by the US is higher than the $1.2 billion given to the Oxford University vaccine that is being developed by AstraZeneca. Under Operation Warp Speed, the US is aiming to deliver millions of doses of safe and effective vaccines for COVID-19 in 2021.
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