CEPI Gives Novavax $384 Million in New Funding for COVID-19 Vaccine

The Coalition for Epidemic Preparedness Innovations (CEPI) is giving Novavax an additional $384 million for development of its COVID-19 vaccine.

The funding will go toward phase 1 and 2 studies, as well as the ramping up of manufacturing to produce up to 100 million doses by the end of the year. CEPI invested $4 million in the vaccine in March.

Phase 1 trials of the vaccine are expected to begin this month in Australia, with preliminary results expected in July.