Novavax Awarded $1.6 Billion from Operation Warp Speed

Novavax announced on July 7, 2020 that it has been awarded $1.6 billion from the United States federal government to participate in Operation Warp Speed, a program that intends to deliver a safe, effective vaccine for COVID-19 in 2021.

The agreement will fund the late-stage clinical development, a Phase III clinical trial, large-scale manufacturing, and the delivery of 100 million doses of Novavax’s COVID-19 vaccine candidate, NVX‑CoV2373, a company press release said. The company will also demonstrate its capabilities to stockpile and distribute large quantities of the vaccine through the deal.

“The pandemic has caused an unprecedented public health crisis, making it more important than ever that industry, government, and funding entities join forces to defeat the novel coronavirus together. We are honored to partner with Operation Warp Speed to move our vaccine candidate forward with extraordinary urgency in the quest to provide vital protection to our nation’s population,” said Stanley C. Erck, president and CEO of Novavax, in the press release. “We are grateful to the US government for its confidence in our technology platform, and are working tirelessly to develop and produce a vaccine for this global health crisis.”

“Adding Novavax’ candidate to Operation Warp Speed’s diverse portfolio of vaccines increases the odds that we will have a safe, effective vaccine as soon as the end of this year,” added US Health and Human Services Secretary Alex Azar, in the press release. “Today’s $1.6 billion investment supports the Novavax candidate, depending on success in clinical trials, all the way through to manufacturing 100 million doses for the American people.”

Source: Novavax