The Coalition for Epidemic Preparedness Innovations (CEPI) has agreed to provide up to $384m in funding to support Novavax in the development and manufacturing of Covid-19 vaccine candidate, NVX-CoV2373.
This funding is in addition to the initial $4m offered by the CEPI in March. Novavax will use the funds to conduct a Phase I/II clinical trial of the vaccine.
The Phase I part is set to begin this month in Australia; the Phase II part will be conducted in various countries based on the Phase I top-line data expected in July.
The company started testing its candidates in animal models in February. Novavax president and CEO Stanley Erck said: “CEPI plays a vital role in advancing innovative technologies against the Covid-19 pandemic.