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.
