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  • Thursday, November 21, 2024
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HHS Makes $1.4B Investment in COVID-19 Vaccine Development, Clinical Trials

The Department of Health and Human Services is investing more than $1.4 billion in developing next-generation vaccines and therapeutics against COVID-19.

The funds are part of the government’s $5 billion Project NextGen initiative to enable the rapid development of longer-lasting COVID-19 vaccines, a new antibody therapy and technologies to advance vaccine manufacturing processes, HHS said Tuesday.

ICON Government and Public Health Solutions, Pharm-Olam, Technical Resources Intl and Rho Federal Systems will collectively receive $1 billion to conduct clinical trials for new vaccines in partnership with the Biomedical Advanced Research and Development Authority.

Regeneron Pharmaceuticals will secure $326 million to create a next-generation monoclonal antibody therapy for COVID-19 prevention.

HHS will allocate $100 million to Global Health Investment Corp, a non-profit organization that invests in new technologies to accelerate responses to diseases and $10 million to Johnson & Johnson Innovation.

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