The Coalition for Epidemic Preparedness Innovations (CEPI) will invest up to $388 million of additional funding in next-gen vaccine maker, Novavax, to fund the development and manufacture of a COVID-19 vaccine.
This latest funding follows an initial $4 million CEPI invested in the Maryland-based biotech back in March and will continue to fund the clinical development of NVX-CoV2373, Novavax’ coronavirus vaccine candidate against SARS-CoV-2.
It will also support rapid scale-up of the NVX-CoV2373 vaccine antigen, as well as Novavax’ proprietary Matrix-M adjuvant, which is expected to enhance immune responses by stimulating high levels of neutralizing antibodies.
In addition, the CEPI funding will allow Novavax to dramatically increase its large-scale manufacturing capacity for both antigen and adjuvant in multiple locations.
“The expansion of our partnership with Novavax represents CEPI’s single biggest investment to date,” said CEPI CEO Richard Hatchett.
“Our vaccine R&D programmes are starting to show progress, so it is vital that we invest now to boost manufacturing capacity, so that our partners have the ability to produce vaccines at a global scale.
“We still have a long way to go, but we’re making important steps forward to deliver a safe, effective, and globally accessible vaccine as quickly as possible.”