(Reuters) – Novavax Inc said on Thursday that SK cinemas of South Korea would produce part of the experimental coronavirus vaccine from the US medical developer in a bid to increase its supply.
Shares of Maryland-based Novavax rose nearly 7% in morning trading.
Novavax has so far received $ 2 billion in funding for its coronavirus vaccine, including $ 384 million from the Coalition for Epidemic Preparedness Innovations (CEPI).
As part of that deal, Novavax has promised to deliver its vaccine to COVAX, a scheme that aims to provide reasonable access to COVID-19 vaccines worldwide.
The deal with SK Bioscience would help increase supply to meet those promises, Novavax said.
SK Bioscience will begin production of the antigen at its vaccine plant in South Korea this month, the two companies said, adding that they have also signed a letter of intent with the country’s Ministry of Public Health and Welfare to make the vaccine available. for his people.
Novavax is also set to deliver 100 million doses to the United States by January after the $ 1.6 billion was allocated for testing and manufacturing of its potential vaccine in the country.
In an early-stage trial, Novavax’s vaccine candidate, NVX-CoV2373, produced higher levels of antibodies in healthy volunteers after two doses than those found in recovered COVID-19 patients and the vaccine was generally “well tolerated”.
The vaccine uses a technology known as recombinant nanoparticle to produce antigens – molecules designed to stimulate the immune system in action.
(Report by Manas Mishra and Dania Nadeem in Bengaluru; Edited by Krishna Chandra Eluri and Anil D’Silva)
