Moderna gets further $472 million U.S. award for coronavirus vaccine development - Investing.com

musognaol.blogspot.com

© Reuters. FILE PHOTO: Moderna Therapeutics seen during COVID-19 in Massachusetts

(Reuters) - Moderna (NASDAQ:) Inc said on Sunday it has received an additional $472 million from the U.S. government's Biomedical Advanced Research and Development Authority (BARDA) to support development of its novel coronavirus vaccine.

The U.S.-based drug maker said the additional funding will support its late-stage clinical development including the expanded Phase 3 study of Moderna's vaccine candidate.

In April, Moderna had received $483 million from the U.S. federal agency that funds disease-fighting technology, when the experimental vaccine was in an early-stage trial conducted by the U.S. National Institutes of Health.

"Encouraged by the Phase 1 data, we believe that our mRNA vaccine may aid in addressing the COVID-19 pandemic and preventing future outbreaks," Chief Executive Officer Stéphane Bancel said in a press release.

BARDA's total funding for the experimental vaccine of Moderna, the first in the United States to begin human trials of a coronavirus vaccine, is now about $955 million.

The vaccine uses synthetic messenger RNA (mRNA) to inoculate against the coronavirus. Such treatments help the body immunize against a virus and can potentially be developed and manufactured more quickly than traditional vaccines.

A Phase 3 study, conducted in collaboration with the National Institute of Allergy and Infectious Diseases, will begin on July 27 and involve about 30,000 participants, according to the company.

Moderna said it remains on track to be able to deliver about 500 million doses per year, and possibly up to 1 billion doses per year, beginning in 2021.

The announcement about further funding came two days after the drug developer said its formula used in developing the vaccine was not covered under patents owned by Arbutus Biopharma (NASDAQ:)

Pfizer Inc (NYSE:), Novavax (NASDAQ:) Inc, Britian's AstraZeneca (NYSE:) Plc are other few drug makers that received funding from BARDA for coronavirus vaccine development.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Let's block ads! (Why?)

Health - Latest - Google News
July 27, 2020 at 01:35AM
https://ift.tt/2CUP8Ro

Moderna gets further $472 million U.S. award for coronavirus vaccine development - Investing.com
Health - Latest - Google News
https://ift.tt/2zrj9Ud


Bagikan Berita Ini