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.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
"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.
-
How will the new Repayment Assistance Plan for student loans work?the explainer The Repayment Assistance Plan (RAP) will replace existing income-driven repayment plans
-
In the Spotlight Venezuelan President Nicolás Maduro has been at odds with US forces
-
Music reviews: Ethel Cain, Amaarae, and The Black KeysFeature "Willoughby Tucker, I'll Always Love You," "Black Star," and "No Rain, No Flowers"
-
Texas declares end to measles outbreakSpeed Read The vaccine-preventable disease is still spreading in neighboring states, Mexico and Canada
-
RFK Jr. shuts down mRNA vaccine funding at agencySpeed Read The decision canceled or modified 22 projects, primarily for work on vaccines and therapeutics for respiratory viruses
-
Measles cases surge to 33-year highSpeed Read The infection was declared eliminated from the US in 2000 but has seen a resurgence amid vaccine hesitancy
-
Kennedy's vaccine panel signals skepticism, changeSpeed Read RFK Jr.'s new vaccine advisory board intends to make changes to the decades-old US immunization system
-
Kennedy ousts entire CDC vaccine advisory panelspeed read Health Secretary RFK Jr. is a longtime anti-vaccine activist who has criticized the panel of experts
-
RFK Jr. scraps Covid shots for pregnant women, kidsSpeed Read The Health Secretary announced a policy change without informing CDC officials
-
New FDA chiefs limit Covid-19 shots to elderly, sickspeed read The FDA set stricter approval standards for booster shots
-
US overdose deaths plunged 27% last yearspeed read Drug overdose still 'remains the leading cause of death for Americans aged 18-44,' said the CDC
