US biotech company Novavax has joined the desperate race of developing a Covid-19 vaccine and started phase 1 clinical trials in Australia. This is the 10th company worldwide that has a promising Covid-19 vaccine in clinical trials since the outbreak.
According to a press release by the company, they have entered into phase 1 of vaccine trial and are expected to get preliminary data on safety and indicators of an immune response as soon as in July. Moreover, if phase 1 is successful, Novavax will be moving phase 2 trial in more countries including the U.S.
During the pre-clinical testing, the vaccine is proved to produce a high level of neutralizing antibodies against coronavirus and the results provide strong evidence that it will be highly immunogenic which will lead to protection against Covid-19 and help in controlling the pandemic.
The Novavax’s efforts of producing a cure for coronavirus are backed by $388 million from the Coalition for Epidemic Preparedness and Innovation (CEPI), a non-profit founded by Bill Gates. The foundation was established in 2015, indoor to prepare the world for a global respiratory epidemic, which Bill gates warned during a TED talk the same year.
The company said it is CEPI’s largest investment ever and funds are to cover phase 2 clinical trial and production of millions of doses by the end of 2020.