Novavax, Inc. (NASDAQ:NVAX) Receives a $1.6 Billion Boost in U.S. Funding in the Development of its Covid-19 Vaccine

In May, Novavax, Inc. (NASDAQ:NVAX) secured a $388 million from the Coalition for Epidemic Preparedness Innovations (CEPI). This was in support of its efforts to develop an inoculation against the novel coronavirus. To hasten these efforts, the company will receive an additional $1.6 billion from the U.S. government through the Operation Warp Speed program (OWS).

The program is striving to deliver efficient and safe results from hundreds of trials for COVID-19 vaccines, which are under development by multiple companies. The company will use the OWS funding to begin a final-stage study of its vaccine candidate, NVX‑CoV2373, with anticipation of delivering close to 100 million doses as soon as late 2020. The study will engage as many as 30,000 subjects.

Novavax is partnering with FUJIFILM Diosynth Biotechnologies (FDB)

COVID-19 pandemic is spreading like bushfire, and there are no signs when it is likely to stop. It has also claimed over half a million lives globally, a quarter of them being from the United States. This has occasioned the need for collaborations and partnerships between companies to accelerate potential vaccines’ development activities.

Novavax, Inc. has reached FUJIFILM Diosynth biotech, and together they have agreed to manufacture bulk drug substance for NVX-CoV2373. This also falls under the $1.6 billion award to Novavax. The drug candidate consists of a stable, prefusion protein, produced through Novavax’s proprietary nanoparticle technology.

“We are committed to working together with unprecedented speed to deliver a vaccine to protect our nation’s population,” Novavax CEO, Stanley C. Erck, reported. Additionally, the CEO of FUJIFILM Diosynth Biotechnologies, Martin Meeson, feels that they have excellent manufacturing technical expertise to support Novavax in making a profound impact.

FUJIFILM Works With a Broad Range of Global Industries

The development and manufacturing organization (CDMO) for biologics has over thirty years of experience with operations in North Carolina, Texas, the UK, College Station, RTP, Teesside, and Hillerød, Denmark.

It has also partnered with FUJIFILM Corporation and Mitsubishi Corporation to bring onboard cutting edge solutions to several industries, including healthcare. Through the use of enhanced systems such as pAVEway microbial and Apollo X cell line, the company offers a wide range of services.