Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Modern receives another $ 472 million in federal funding for vaccine development in the final stages of coronavirus

Modern receives another $ 472 million in federal funding for vaccine development in the final stages of coronavirus



mRNA) announced On Sunday, he received another $ 472 million in funding from President Donald Trump’s administration to support the clinical development of the final stage of his coronavirus vaccine candidate, including an expanded phase 3 study.Modern Inc. (NASDAQ: MRNA) announced on Sunday that it was receiving another $ 472 million in funding from President Donald Trump̵

7;s administration to support the late-stage clinical development of its coronavirus vaccine candidate, including an expanded phase 3 study.

What happened

The Cambridge, Massachusetts-based company initially received a $ 483 billion award in support of its mRNA-1273 vaccine candidate as part of its contract with the Biomedical Body for Advanced Research and Development (BARDA). This amount is now increasing to $ 955 million, as Moderna expects to conduct phase 3 trials with a significantly larger number of participants.

The biotechnology company revealed that its phase 3 study, to be conducted in collaboration with the National Institute of Allergy and Infectious Diseases, led by Anthony Fauci, is expected to begin on Monday. The process will involve 30,000 participants in the United States.

Why it matters

LZAGYModern claims that it is on track to deliver nearly 500 million doses of vaccine annually and could scale up to 1 billion doses next year due to its strategic collaboration with Lonza Group AG (OTC: LZAGY).

CTLT) for the full production of the vaccine at this company’s Indiana facility. “data-reactid =” 29 “> The company said it was also cooperating Catalent Inc. (NYSE: CTLT) for complete vaccine processing at this company’s Indiana facility.

suffered failure to develop the vaccine because it lost an offer to invalidate a key patent related to the technology for the supply of mRNA vaccines owned by Arbutus Biopharma Corp. (NASDAQ: ABUSELast week, Moderna failed to develop the vaccine because it lost a bid to invalidate a key patent related to mRNA vaccine delivery technology owned by Arbutus Biopharma Corp. (NASDAQ: ABUS).

NVAX) for the late-stage testing of the vaccine, Reported Politics. The U.S. government has increased investment in the development, testing, and production of COVID-19 treatment, earlier this month promising $ 1.6 billion in funding Novavax, Inc. (NASDAQ: NVAX) for the end-of-vaccine trial, Politico reported.

“We are very close to the vaccine – I think we will have some very good results,” Trump said Tuesday.

Price Action

Shares of Moderna closed 2.8% lower at $ 73.21 on Friday and traded about 1.1% higher during the session after the hour.


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