Novavax awarded $1.6B to develop coronavirus vaccine in Operation Warp Speed deal
by Spencer Neale, Breaking News Reporter |
| July 07, 2020 05:29 PM
Drugmaker Novavax will receive a boost from the federal government to the tune of $1.6 billion as efforts to find a coronavirus vaccination intensify.
The Trump administration handed the Maryland-based vaccine development company the reward as part of the White House's "Operation Warp Speed" program, which aims to combat the spread of the coronavirus. The award is the largest deal from the program so far.
"We're pretty confident this will stimulate a potent neutralizing immune response in humans," Novavax President Stanley Erck told CNBC Tuesday morning.
Erck said the money will be used to establish manufacturing, implement a phase three clinical trial, and deliver more than 100 million doses of a potential vaccination.
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https://www.washingtonexaminer.com/news/novavax-awarded-1-6b-to-develop-coronavirus-vaccine-in-operation-warp-speed-deal
