Novavax receives $1.6 billion for potential COVID-19 vaccine under Operation Warp Speed


Novavax is set to receive more than a billion dollars in federal funding for its COVID-19 vaccine candidate.
The company on Tuesday morning announced it's getting $1.6 billion from the Trump administration's Operation Warp Speed, and this money will help it to "complete late-stage clinical development," "establish large-scale manufacturing," and "deliver 100 million doses" of its potential vaccine "as early as late 2020."
The Trump administration's Operation Warp Speed aims to speed up the development of a vaccine for COVID-19, and the $1.6 billion for Novavax is the largest deal the administration has made as part of this program so far, The New York Times reports. Novavax has "never brought a product to market," the Times notes.
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"We are grateful to the U.S. government for its confidence in our technology platform, and are working tirelessly to develop and produce a vaccine for this global health crisis," Novavax CEO Stanley C. Erck said.
U.S. Health and Human Services Secretary Alex Azar also said in a statement that backing Novavax's vaccine candidate "increases the odds that we will have a safe, effective vaccine as soon as the end of this year." Novavax says it's planning to begin its phase three clinical trial with up to 30,000 subjects in the fall.
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Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
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