Daily Management Review

US Gives Moderna An Additional $472 Million For Cvoid-19 Vaccine Development


US Gives Moderna An Additional $472 Million For Cvoid-19 Vaccine Development
An additional grant of $472 million was given to the United States based drug maker Moderna Inc by the US government’s Biomedical Advanced Research and Development Authority (BARDA) to help the pharma company to further its development process for its vaccine against the novel coronavirus caused disease Covid-19.
The plans of the company for late-stage clinical development of its vaccine, including the expanded Phase 3 study of Moderna’s vaccine candidate, will be helped significantly because of the additional funding, the US-based drug maker said.
The US federal agency that funds disease-fighting technology granted Moderna with $483 million in April this year when the vaccine candidate of the company was still at an early stage trial phase and was being conducted by the US National Institutes of Health.
“Encouraged by the Phase 1 data, we believe that our mRNA vaccine may aid in addressing the COVID-19 pandemic and preventing future outbreaks,” Chief Executive Officer of the drug maker Stéphane Bancel said in a press release.
A total of $955 million in grants have so far been given to Moderna by BARDA for the pharma giant’s experimental vaccine which is the first in the United States to get into the human trial stage among all the vaccine candidates against the novel coronavirus.
Inoculation of patients against the novel coronavirus is achieved by Moderna’s vaccine candidate with the use of synthetic messenger RNA (mRNA). This line of treatment actually helps the human body to get immunized against a virus and the development and manufacturing of vaccines based on this line of treatment is much faster compared to traditional vaccine development methods.
According to Moderna, the Phase 3 trials on humans of the potential vaccine have started from July 27 in and are being conducted in collaboration with the National Institute of Allergy and Infectious Diseases. That phase will involve about 30,000 volunteers.  
Under its current production capacity, about 500 million doses per year will be supplied by it, Moderna said, and added that the number will potentially be increased to about 1 billion doses per year from the beginning in 2021.
The latest announcement of the additional funding came just two days after the pharma company said that the formula that it was using in developing the vaccine against Cvodi-19 was not part of the patents that are owned by Arbutus Biopharma.
There were some other drug makers that received funding from BARDA for coronavirus vaccine development` and included the likes of Pfizer Inc, Novavax Inc, Britian’s AstraZeneca Plc among others.