CEPI bets $384M on Novavax’s Covid-19 vaccine — covering R&D and manufacturing in the groundbreaking race to beat the pandemic
Novavax $NVAX got some badly needed seed cash from the Coalition for Epidemic Preparedness Innovations — CEPI — back in March that allowed them to get started on a speedy pathway to developing a new vaccine for Covid-19.
Today is harvest day.
CEPI is stepping back up with its largest commitment to date, backing the biotech’s Phase I and Phase II trials for NVX-CoV2373 for up to $384 million while “dramatically” increasing its production capacity for the vaccine antigen as well as the adjuvant needed to boost its efficacy. The money comes on top of the $4 million CEPI sent Novavax to get things going in R&D without any delays for negotiations. And it marks a remarkable endorsement for a biotech which has had its share of clinical failures to contend with.
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