[ad_1]
© Reuters. FILE PHOTO: The Regeneron Prescribed drugs firm brand is seen on a constructing on the firm’s Westchester campus in Tarrytown, New York, U.S. September 17, 2020. Image taken September 17, 2020. REUTERS/Brendan McDermid/File Picture
(Reuters) – The U.S. authorities stated on Tuesday it had awarded $1.4 billion for the event of latest therapies and vaccines in opposition to COVID-19, together with a $326 million contract with Regeneron (NASDAQ:) Prescribed drugs for a next-generation antibody remedy for prevention of infections.
The funding to Regeneron is part of a $5 billion initiative dubbed “Mission NextGen” by the U.S. Division of Well being and Human Companies (HHS).
Regeneron had earlier developed a monoclonal antibody remedy in opposition to COVID, which was approved by the U.S. Meals and Drug Administration in November 2020, however its use was restricted early final 12 months after it was discovered to be unlikely to work in opposition to the Omicron variant.
The funding additionally consists of $1 billion for 4 mid-stage medical trials of latest COVID vaccines, and $100 million to World Well being Funding Corp – a non-profit group that invests in new applied sciences that can speed up responses to illnesses.
[ad_2]
Source link
