COVAXX gets supply deals worth $2.8 billion for potential Covid-19 vaccine

COVAXX, a unit of United Biomedical Inc, said on Thursday it has received purchase commitments totaling $2.8 billion to deliver more than 140 million doses of its potential Covid-19 vaccine to developing countries, including Brazil, Peru and Ecuador.

The multitope peptide-based vaccine is currently in early-stage trials in Taiwan, lagging some of the frontrunners in the race to develop a safe and effective vaccine.

The US based company signed an agreement in September with Brazilian lab and hospital group DASA S.A. to conduct mid-to-late stage trials in Brazil for the vaccine.

COVAXX estimates it can produce 100 million doses in first half of next year and 1 billion by end of 2021.

Last month, the company signed a logistics partnership with Maersk for transportation and supply chain services that will be needed to deliver the vaccine around the world.

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