US to spend $1.4 billion for new Covid vaccines, treatments
US to spend $1.4 billion for new Covid vaccines, treatments
Robert Besser
26 Aug 2023, 16:29 GMT+10
- The US government announced the allocation of $1.4 billion for the development of new vaccines and treatments for COVID-19
- The funding includes a $326 million contract with Regeneron Pharmaceuticals for a next-generation antibody therapy for preventing infections
- This is a part of a $5 billion initiative, entitled “Project NextGen,” launched by the US Department of Health and Human Services
WASHINGTON D.C.: The US government announced the allocation of $1.4 billion for the development of new vaccines and treatments for COVID-19.
The funding includes a $326 million contract with Regeneron Pharmaceuticals for a next-generation antibody therapy for preventing infections, which is a part of a $5 billion initiative, entitled “Project NextGen,” launched by the US Department of Health and Human Services (HHS).
In 2020, Regeneron developed an antibody therapy against COVID-19, which was authorized by the US Food and Drug Administration in November that year but saw limited use after it was found to be less effective against the Omicron variant.
The funding also includes $1 billion for four mid-stage clinical trials of new COVID-19 vaccines, and $100 million to Global Health Investment, a non-profit organization that invests in new technologies that will accelerate responses to diseases.
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