The Biomedical Advanced Research and Development Authority has awarded Moderna a potential $483M contract to further develop a vaccine against to the novel coronavirus SARS-CoV-2.
Moderna said Thursday it will use the funds to advance the biotechnology firm’s messenger RNA-based vaccine candidate to the Food and Drug Administration’s licensure process.
A Phase 1 study, led by the National Institutes of Health, began last month and will provide data to support Phase 2 work that is scheduled to begin in the second quarter of 2020.
The Cambridge, Mass.-based company expects Phase 3 assessments of the mRNA-1273 vaccine to commence this fall and aims to conduct large-scale manufacturing efforts later this year
Stephane Bancel, CEO of Moderna, said the HHS supports collective efforts to supply millions of doses each month and an even larger amount over the next year.
The company seeks to grow its U.S. workforce size by 150 personnel and enroll new volunteers for the vaccine testing phase on an ongoing basis.