Novavax said it has secured $2 billion in funding for its worldwide vaccine program, which includes $388 million from the Coalition for Epidemic Preparedness Innovations, co-founded by the Bill & Melinda Gates Foundation.
Ad5-nCoV is one of dozens of potential Covid-19 vaccines in various stages of development around the world. It's different from the other COVID-19 vaccine trials in several ways.
"The coronavirus vaccine candidate that's been developed by Novavax is one of the most promising in the country, if not the world", Mr. Hogan said, adding that it's one of the few vaccine candidates that has undergone numerous clinical developments. Four vaccines are being produced in China by Sinovac Biotech and one in Russian Federation by the Gamaleya Research Institute which just boarded the phase 3 train this month.
Trials of the Oxford vaccine candidate are being conducted in Pune as well.
A second female volunteer fell ill and suffered complications after receiving a follow-up dose of the experimental vaccine in September, the dosing regimen for this experimental vaccine requires two injections that are four weeks apart.
It is hoped that the "challenge trials" will be able to quickly determine how well late-stage COVID-19 vaccines work, as some of these candidates are set to complete phase 3 testing before the end of the year. Later on, a spokesperson for the company said that the volunteer had undiagnosed multiple sclerosis and the trials resumed.
Trials will run in Argentina, Brazil, Chile, Colombia, Mexico, Peru, South Africa and the United States.
China launched the emergency programme in July.
When it comes to the overall spender, the United States government's Biomedical Advanced Research and Development Authority has distributed more than $10 billion in funding for vaccine candidates, either via direct financing or through vaccine procurement agreements. "FDA (Food and Drug Administration) must move quickly", U.S. President Donald Trump said in a tweet.
USA health officials insist the race for a vaccine is not cutting corners.
Yin said the company would prioritise distribution of the vaccine to countries hosting human trials of CoronaVac.
There are 59 vaccines now under research in China in total, according to Wu.
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