Novavax, Inc. (Nasdaq: NVAX) announced today that it has reached an agreement with the European Commission for the purchase of up to 200 million doses of the company’s COVID-19 vaccine candidate NVX-CoV2373. The agreement stipulates an initial 100-million dose purchase with an option to purchase 100 million more through 2023.
“As new coronavirus variants are spreading in Europe and around the world, this new contract with a company that is already testing its vaccine successfully against these variants is an additional safeguard for the protection of our population,” said European Commission President Ursula von der Leyen.
Novavax’s NVX-CoV2373 is a recombinant nanoparticle protein-based COVID-19 vaccine candidate with the company’s patented Matrix-M™ adjuvant. The vaccine is currently being evaluated in two Phase III trials: in the United Kingdom where it demonstrated 89.7% overall efficacy, and in the United States and Mexico where it demonstrated 90.4% overall efficacy.
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The US-based vaccine maker is currently working to complete its submission for the vaccine candidate’s rollout to the European Medicines Agency in the third quarter of this year. The delivery of the initial doses will be expected to follow after the approval.
In June 2021, Canadian Innovation Minister François-Philippe Champagne announced the completion of the National Research Council of Canada’s Biologics Manufacturing Centre. The facility is slated to be the country’s manufacturing site of Novavax’s COVID-19 vaccine, of which the Canadian government purchased up to 76 million doses. The vaccine, however, is still waiting for Health Canada’s decision on its authorization application.
Novavax last traded at US$188.57 on the Nasdaq.
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