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Health & Fit Novavax receives highest funding to develop COVID-19 vaccine

12:51  11 july  2020
12:51  11 july  2020 Source:   abcnews.go.com

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Novavax , a vaccine development company, was recently awarded over .6 billion by the United States government to support commercial-scale Sabina Bera, M.D., M.S., is a psychiatrist in New York, and a contributor to ABC News Medical Unit. Novavax receives highest funding to develop

COVID - 19 Vaccine and Therapeutics Tracker, updated daily. Get the latest updates on vaccine and therapeutic drug development for coronavirus. See the latest updates for vaccine and therapeutic drug developments for COVID - 19 . Check back for regular updates! New addition counters are reset

Novavax, a vaccine development company, was recently awarded over $1.6 billion by the United States government to support commercial-scale manufacturing of their potential coronavirus vaccine.

a close up of a plastic container: Dr. Nita Patel, Director of Antibody discovery and Vaccine development, lifts a vial with a potential coronavirus, COVID-19, vaccine at Novavax labs in Gaithersburg, Md., March 20, 2020. © Andrew Caballero-Reynolds/AFP via Getty Images Dr. Nita Patel, Director of Antibody discovery and Vaccine development, lifts a vial with a potential coronavirus, COVID-19, vaccine at Novavax labs in Gaithersburg, Md., March 20, 2020.

According to Stanley Erck, CEO of Novavax, the company was selected to be part of the government's Operation Warp Speed program because of its prior experience with two related coronavirus vaccines (SARS and MERS), as well as other infectious diseases such as Ebola.

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COVID - 19 vaccine candidates secure funds ; Lysol gets EPA nod. Gaithersburg, Maryland-based Novavax said in a statement.Shares of Novavax rose as much as 41%, the highest since September 2016, in Tuesday trading. Novavax is among companies striving to develop an inoculation against the

In May 2020, Novavax received US4 million from the Coalition for Epidemic Preparedness Innovations to fund early-stage evaluation in healthy adults of the company's COVID - 19 vaccine candidate, NVX-CoV2373, and to develop resources in preparation for large-scale manufacturing, if

"We use the same platform," Erck told ABC News' Bob Woodruff. "In all of these different diseases, we take a surface protein on the virus and when you inject it into the body, the body sees it as flu or it sees it as coronavirus -- we add it to an adjuvant which sets off a more powerful immune response and sets off, not just antibodies, but T cells against it."

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Three other vaccine companies -- Johnson & Johnson, Moderna and AstraZeneca -- have also received funding through Operation Warp Speed. Each will produce its own coronavirus vaccine, which will be distributed to the population if it proves successful in large-scale clinical trials.

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Three potential coronavirus, COVID - 19 , vaccines are kept in a tray at Novavax labs in Gaithersburg, Maryland on March 20, 2020, one of the labs developing a vaccine for the Novavax is one of a number of smaller biotech firms receiving funding from the European nonprofit CEPI, which is

Maryland-based vaccine company Novavax will receive up to 8 million from the International Coalition It was launched in 2017 to develop vaccines to stop future epidemics and to insure access to The World Health Organization’s list of vaccine candidates for COVID - 19 stayed steady at eight

Erck said each company's vaccine is targeting the same virus, but using a different type of vaccine technology. It's still not clear if any of them will prove safe and effective in the long run -- but Erck claims Novavax's candidate must have shown the most promise considering how much funding the company received.

Dr. Nita Patel, Director of Antibody discovery and Vaccine development, lifts a vial with a potential coronavirus, COVID-19, vaccine at Novavax labs in Gaithersburg, Md., March 20, 2020. © Andrew Caballero-Reynolds/AFP via Getty Images Dr. Nita Patel, Director of Antibody discovery and Vaccine development, lifts a vial with a potential coronavirus, COVID-19, vaccine at Novavax labs in Gaithersburg, Md., March 20, 2020.

"They saw our [data] and I have to infer that our data must have been as good as or better than the others," Erck said. "Some of the vaccines require freezing them at minus 80 degrees, and ours happens to be stable at room temperature and at refrigerator temperature, so there are a few characteristics of our vaccine that make it more attractive."

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Novavax is just one of many biotech and drug companies using funding from the U.S. Regeneron announced Tuesday that it has signed a 0 million contract with the U.S. government under Operation Warp Speed to make Novavax receives highest funding to develop COVID - 19 vaccine .

"Operation Warp Speed," the federal government's Covid - 19 vaccine program, on Tuesday "It speaks to the confidence that they have in our platform to be able to develop a vaccine ," Stanley Novavax is the fourth company to receive federal funds to conduct large-scale Phase 3 clinical trials

Novavax's vaccine has been tested in animals, and the company has already started testing it in humans. Erck expects phase 1 trials to be completed by the end of this month, which should help establish if the vaccine is safe enough to proceed to larger studies. This will be followed by phase 2 and phase 3 trials to make sure it is effective and stable. He estimates that the cost of all these trials will amount to about $1 billion.

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Like many vaccine companies, Novavax is ramping up manufacturing before it knows if its vaccine is effective. That way, the company hopes to have 100 million doses ready to go as soon as positive data becomes available.

"We concluded early on," Erck told ABC News, "if we delayed -- if we decided to wait until we saw how the mouse [tests] worked and the non-human primate [tests] worked -- and didn't start the manufacturing investment, which is a huge investment, you'd lose six months. And in a pandemic every day counts."

If the vaccine proves effective, Erck hopes to be able to vaccinate front-line health care workers as early as the end of this year.

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The company’s speedy development of a possible COVID - 19 vaccine has. Acting as a catalyst for Novavax ’s latest round of share price appreciation was last week’s announcement that the coalition for Epidemic Preparedness Innovations (CEPI) will provide Novavax with up to 8 million to further the

CEPI and Novavax are discussing additional funding for Novavax ’s work on the vaccine . “This first stage of funding from CEPI is critical to enable “We commend CEPI for its role as a vital partner to bridge the funding gap for innovative biotech companies like Novavax , which have robust vaccine

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"The first people to get it are going to be the front-line health care workers and they'll get the first 50 million doses or however many doses," Erck said. "And then it'll start to spread out for people who are most at risk of getting seriously ill."

When asked about the effectiveness of the vaccine, Erck said early animal studies are promising. While most vaccines take about 10 to 15 years to develop, Erck said the process can be sped up safely.

Sabina Bera, M.D., M.S., is a psychiatrist in New York, and a contributor to ABC News Medical Unit.


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Moderna has $400 million in deposits for Covid-19 vaccine .
Moderna, one of the companies working on a treatment for Covid-19, said Wednesday that it's on track to finish enrollment for a phase 3 study of its vaccine by the end of September. © Hans Pennink/AP Nurse Kathe Olmstead, right, gives volunteer Melissa Harting, of Harpersville, N.Y., an injection as the world's biggest study of a possible COVID-19 vaccine, developed by the National Institutes of Health and Moderna Inc., gets underway Monday, July 27, 2020, in Binghamton, N.Y.

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