US govt awards US$1.4b for development of new Covid-19 therapies, vaccines
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The funding includes US$1 billion for four mid-stage clinical trials of new Covid-19 vaccines.
PHOTO: REUTERS
WASHINGTON - The US government said on Tuesday it had awarded US$1.4 billion (S$1.9 billion) for the development of new therapies and vaccines against Covid-19, including a US$326 million contract with Regeneron Pharmaceuticals for a next-generation antibody therapy for prevention of infections.
The funding to Regeneron is a part of a US$5 billion initiative dubbed “Project NextGen” by the US Department of Health and Human Services (HHS).
Regeneron had earlier developed a monoclonal antibody therapy against Covid-19, which was authorised by the US Food and Drug Administration in November 2020, but its use was limited early last year after it was found to be unlikely to work against the Omicron variant.
The funding also includes US$1 billion for four mid-stage clinical trials of new Covid-19 vaccines, and US$100 million to Global Health Investment Corp - a non-profit organisation that invests in new technologies that will accelerate responses to diseases. REUTERS
