Health

Md. Company Gets $1.6B From U.S. Government for Vaccine Development

Novavax Inc., of Gaithersburg, Md., has secured a $1.6 billion federal grant to develop, assess and construct a coronavirus vaccine, the company announced.

The biotechnology firm received the grant through Operation Warp Speed, a federal government program aiming to start delivering millions of doses of a vaccine for COVID-19 by 2021, WRC-TV (Channel 4) reported.

As a part of the grant agreement, Novavax must set up large-scale manufacturing and transition into ongoing production, including the ability to store and hand out huge quantities of its drug NVX-CoV2373, when needed. The grant will also finance late-stage clinical studies, including a Phase Three clinical trial with up to 30,000 people beginning in the Fall of 2020, the release said.

The Novavax grant presently ranks as the largest from Operation Warp Speed, according to Maryland Gov. Larry Hogan.

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