Inovio Pharmaceuticals Gets Help From Ology Bioservices and the Defense Department with Its COVID-19 Vaccine Candidate
Inovio Pharmaceuticals (NASDAQ: INO) has received quite a bit of help in its quest to develop a vaccine for SARS-CoV-2, the coronavirus that causes COVID-19.
For instance, on Jan. 23, the Coalition for Epidemic Preparedness Innovations awarded a grant of up to $9 million to Inovio to fund pre-clinical and clinical development of its vaccine candidate, INO-4800. Also, on March 12, the company received a grant of $5 million from the Bill & Melinda Gates Foundation to test and scale up the manufacture of the Cellectra 3PSP, a smart device for the intradermal delivery of INO-4800.
Now, Inovio is teaming up with Ology Bioservices, a privately held company that focuses on the development and manufacturing of vaccines and biologics. The two biotech companies received a grant of $11.9 million from the U.S. Department of Defense to manufacture INO-4800. Given the urgency of the situation, Inovio and Ology Bioservices are expected to expedite the manufacture of INO-4800 and deliver some to the Defense Department for clinical trials as soon as possible.
Source Fool.com
