COVAXX Announces $2.8 Billion in Advance Purchase Commitments to Deliver More Than 140 Million Vaccine Doses to Emerging Countries

25-Nov-2020 Intellasia | BusinessWire | 8:30 PM Print This Post
  • COVAXX’s UB-612 is the only multitope, synthetic peptide-based vaccine candidate in the clinic
  • Company’s manufacturing facilities in place to produce 100 million doses in 1H 2021 and up to 1 billion by YE 2021
  • UB-612 distribution utilizes normal refrigeration (no freezing required)
  • Company partnered with Maersk for worldwide shipping and logistics
  • Phase 2/3 clinical trials to begin end of 2020/1Q 2021 in Asia, Latin America, and U.S.

HAUPPAUGE, N.Y.--(BUSINESS WIRE)--#COVID19--COVAXX, a U.S. company developing a multitope peptide-based vaccine to fight COVID-19, announces advanced purchase commitments of more than 140 million doses of its UB-612 vaccine, totaling over $2.8 billion, to deliver vaccines in multiple countries, including Brazil, Ecuador and Peru. These public and private commitments follow the start of human trials in Taiwan and the September agreement with Diagnosticos da America SA (Dasa S.A.), the largest clinical diagnostic company in Brazil, to conduct Phase 2/3 clinical trials and distribute vaccines within Brazil.


“In parallel with the expedited clinical development of UB-612, we are working to help countries with the greatest unmet needs customize their plans for vaccine studies, supply and distribution,” said Mei Mei Hu, co-founder and CEO of COVAXX. “The realistic view of vaccine production is that we will need a wide range of vaccine options utilizing different technologies to meet worldwide demand. As much as vaccines matter, vaccinations matter more. To be administered effectively, vaccines need to demonstrate easy and affordable distribution, durability of response with the capability to further extend it with effective boosts, as well as the ability to adapt to a potential mutation in the virus while building on the first vaccines made available.”

COVAXX (not to be confused with single “x” COVAX) is currently completing Phase 1 clinical trials of UB-612 in Taiwan and has an agreement with the University of Nebraska Medical Center (UNMC), home of the National Pandemic Center, to also conduct trials in the U.S. Last month, COVAXX announced a global logistics partnership with Maersk, the world’s largest shipping and integrated logistics provider, that creates a framework for all transportation and supply chain services that will be needed to deliver COVAXX’s UB-612 around the world.

“We applaud the progress of other vaccine developers, but recognize the global requirement for billions of doses,” said Dr. Peter H. Diamandis, COVAXX’s co-founder and vice-chairman. “Our vaccine has the following key attributes that make it potentially best in class: First, it is boostable. COVID-19 is not ‘one and done’ and populations will likely require boosters to protect against the virus. UB-612 technology has been shown to effectively boost repeatedly and without any side effects. Second, the vaccine is stable at 2-8C and can be delivered via existing distribution infrastructure and normal refrigeration; Third, from preliminary data, UB-612 has observed minimal reactogenicity (i.e. no fevers, chills or systemic issues). While clinical efficacy data will be available during the next few months, we believe COVAXX is a best-in-class vaccine that is affordable and accessible for all earthlings.”

“The reality of vaccine manufacturing is that some vaccines will be available earlier than others, though in limited quantities and most likely available in the countries in which they are manufactured, as well as countries with a robust infrastructure and the financial ability to handle the complex cold-chain distribution,” said Lou Reese, COVAXX’s co-founder and executive chairman. “COVAXX is specifically focused on disrupting this traditional method. Our vaccine will be distributed globally, and our primary focus is on supplying emerging markets.”

UB-612 Fact Sheet: www.covaxx.com/vaccine

About COVAXX. The mission of COVAXX is to democratize health and safeguard lives worldwide by tackling the global COVID-19 pandemic using cost-effective, scalable and proven science-based solutions. Produced from a commercially proven, vaccine platform, UB-612 is a multitope vaccine designed to activate both B and T-cell arms of the immune system. Preclinical studies have shown that the UB-612 vaccine candidate generated high titers of neutralizing antibodies.

COVAXX is a subsidiary of United Biomedical Inc (UBI), founded in 1985, with headquarters in New York. The company is a scientific trailblazer creating technological firsts, including the manufacture and commercialization of more than 100 million antibody blood diagnostic tests and 5 billion vaccine doses against infectious diseases in animal health. With proprietary access to UBI's core technology platforms, COVAXX can develop and commercialize high precision antibody tests and a promising COVID-19 vaccine that together would form a unique Differentiating Infected from Vaccinated Individuals (DIVI) system.

For more information, visit www.covaxx.com and follow us on social media. Twitter: @COVAXX_; Facebook: @COVAXX; LinkedIn: /COVAXX; and Instagram: @covaxxvaxxine.


Contacts

Diane Murphy, COVAXX PR
+1 (310) 658.8756; [email protected]

David Schull, Russo Partners
+1 (212) 845.4271; [email protected]

 

Category: BusinessWire, PRAsia

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