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"AGC...to make more than 2 billion doses at its Copenhagen site and roughly 1 billion at its Seattle-area facility" for Novavax Novavax Inc. just scored even more support for its coronavirus vaccine program. The Gaithersburg company said late Thursday it won a Department of Defense contract worth up to $60 million to help manufacture its Covid-19 vaccine candidate, NVX‑CoV2373. The funding, from the Defense Health Program, would back the production of multiple pieces of the vaccine, to be manufactured in the U.S., according to Novavax’s (NASDAQ: NVAX) announcement. The deal covers 10 million doses this year, which could be used in its phase 2 and phase 3 clinical trials — or, if the Food and Drug Administration approves it, under Emergency Use Authorization, Novavax said. “We are genuinely honored at the opportunity to protect our military personnel and their families who have devoted themselves to the needs of U.S. citizens and others worldwide,” Novavax President and CEO Stanley Erck said in a statement. “Importantly, this award will allow Novavax to significantly expand its U.S. production capacity of NVX-CoV2373, a critical step in our ability to provide vaccine support to the Covid-19 pandemic.” The contract indicates Novavax will work with a domestic contract development manufacturing organization to make the vaccine’s antigen — the molecules from the pathogen that trigger the body’s immune response — for at least 10 million doses. Under the agreement, Novavax will also work with those third parties to scale up production of vaccine’s adjuvant, which strengthens the immune response to the virus. Company leadership knows it won’t get its Covid-19 vaccine across the finish line alone. Novavax has already formed a partnership with AGC Biologics of Bothell, Washington to manufacture the vaccine’s adjuvant component, to make more than 2 billion doses at its Copenhagen site and roughly 1 billion at its Seattle-area facility, according to a spokesperson for AGC. The Montgomery County biotech has also pulled in Sweden's PolyPetide Group to help produce two elements used in the vaccine’s adjuvant component. And both are separate from its collaboration with Emergent BioSolutions Inc. (NYSE: EBS), which is producing Covid-19 vaccine materials for preclinical testing and the candidate’s phase 1 clinical trial. The Covid program, one of 10 now in human trials with early results expected in July, moves forward with $388 million from the Norway-based Coalition for Epidemic Preparedness Innovations, and up to $250 million Novavax could raise through a common stock sale — after raising nearly $100 million in net proceeds earlier this year. The company recently purchased a new $167 million manufacturing facility in the Czech Republic, after selling off its own manufacturing business to Baltimore’s Paragon Bioservices Inc. for $18 million in cash less than a year ago. Novavax’s stock shot up in pre-market trading Friday, reaching a high of $50.49 per share. The stock was trading up more than 3% from Thursday’s close at $46.02 around 2 p.m. Related Content Novavax taps another company to help move vaccine forward Emergent gets $628M contract for Covid-19 vaccine work Novavax buys Czech manufacturing plant to boost vaccine production Novavax looks to raise $250M through stock sale Emergent BioSolutions CEO breaks down its Covid-19 vaccine strategy Sara Kilgore WBJ |
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