Moderna Gets Another $472M Federal Funding For Late-Stage Coronavirus Vaccine Development

published 27.07.2020 04:38

Last week, Moderna suffered a setback in its vaccine development as it lost a bid to invalidate a key patent related to the technology for delivery of mRNA vaccines held by Arbutus Biopharma Corp (NASDAQ: ABUS).

Why It Matters Moderna claims it's on track to deliver nearly 500 million doses of the vaccine per year, and it could scale that number up to 1 billion doses next year due to its strategic collaboration with Lonza Group AG (OTC: LZAGY).

What Happened The Cambridge, Massachusetts-based company was originally allocated a $483 billion award, in support of its mRNA-1273 vaccine candidate, as part of its contract with the Biomedical Advanced Research and Development Authority (BARDA).

Moderna Inc. (NASDAQ: MRNA) announced Sunday it is receiving another $472 million funding from President Donald Trump's administration to support late-stage clinical development of its coronavirus vaccine candidate, including an expanded phase 3 study.

Earlier this month, it promised $1.6 billion in funding to Novavax, Inc (NASDAQ: NVAX) for its vaccine’s late-stage trial, reported Politico.

by Shivdeep Dhaliwal from benzinga.com

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