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Novavax receives $1.6 billion from US government for 100 million vaccines

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FILE: A lab technician puts a label on to a test tube while conducting research on coronavirus, COVID-19
FILE: A lab technician puts a label on to a test tube while conducting research on coronavirus, COVID-19   -   Copyright  AP Photo/Virginia Mayo
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Novavax has been chosen to participate in Operation Warp Speed, a US government program that seeks to begin delivering millions of doses of a safe, effective vaccine for COVID-19 next year.

Novavax has received $1.6 billion from the federal government to complete late-stage clinical development, including a Phase 3 clinical trial; establish large-scale manufacturing; and deliver 100 million doses of NVX‑CoV2373, its COVID-19 vaccine candidate, as early as late 2020.

As part of Operation Warp Speed Regeneron Pharmaceuticals has received $450 million to make and supply its own COVID-19 vaccine candidate, REGN-COV2. The agreement supports continued manufacturing so that the product could be made available immediately in the US if clinical trials are successful and the US Food and Drug Administration grants Emergency Use Authorization or product approval.

REGN-COV2 is currently in two Phase 2/3 clinical trials for the treatment of COVID-19 and in a Phase 3 trial for the prevention of COVID-19 infection.