Washington, November 9: Novavax, a US based biotechnology company, on Monday, said that the US Food and Drug Administration (FDA) has granted Fast Track Designation (FTD) for NVX-CoV2373, the Company’s COVID-19 vaccine. The vaccine is currently in the late-phase of clinical development. The phase 3 trials of the vaccine is likely to start in end November in the USA and Mexico. It is currently conducting phase 3 trials in the UK. Novavax expects to launch the vaccine by first quarter of 2021. Pfizer Says COVID-19 Vaccine 90% Effective in Phase 3 Trial, Likely to File for Emergency Use by November-End.
Gregory M. Glenn, M.D., President of Research and Development, Novavax, said, “The FDA’s decision to grant Fast Track Designation for NVX-CoV2373 reflects the urgent need for a safe and effective vaccine to prevent COVID-19, and we look forward to working closely with the agency to accelerate access to this vaccine.” He added that expedition in the process, they are committed to ensure a "data-driven and scientifically rigorous approach in demonstrating safety and efficacy." World News | Production of AstraZeneca COVID-19 Vaccine Begins in Australia.
Read the Tweet by Novavax Here:
This morning, we were pleased to announce that #FDA has granted Fast Track Designation for NVX-CoV2373, our #COVID-19 candidate #vaccine. For details, read our announcement here: https://t.co/SHyVi9kyd0 $NVAX pic.twitter.com/yh9gT8qMVS
— Novavax (@Novavax) November 9, 2020
Novavax has got funds worth $2 Billion for its global COVID-19 vaccine programme. It has been funded by the Coalition for Epidemic Preparedness Innovations (CEPI) and the US Government. The US Food and Drug Administration's FTD is a process undertaken speed up the development and review of drugs that can be useful in treating serious medical conditions and making the drug accessible to all the patients quickly.