- Novavax said it expects to finalize an agreement that would see it begin to supply Canada with doses “as early as the second quarter of 2021,” the company said.
- The company’s vaccine, called NVX-CoV2373, is currently in phase two trials.
- Novavax has previously said it could begin late-stage trials as early as October.
American vaccine developer Novavax announced Monday that it’s reached an agreement in principle with Canada to supply 76 million doses of its experimental coronavirus vaccine to the country.
The company said it expects to finalize an agreement to supply Canada with doses “as early as the second quarter of 2021.” The agreement is contingent on the vaccine getting a license from Health Canada, the company said.
Shares of Novavax rose nearly 2% in early morning trading on the news.
The company’s vaccine, called NVX-CoV2373, is currently in phase two trials. It has previously said it could begin late-stage trials as early as October.
“We are moving forward with clinical development of NVX-CoV2373 with a strong sense of urgency in our quest to deliver a vaccine to protect the world,” Novavax CEO Stanley Erck said in a statement.
The company did not disclose the financial terms of the agreement.
“This is an important step in our government’s efforts to secure a vaccine to keep Canadians safe and healthy, as the global pandemic evolves,” Anita Anand, Canada’s minister of public services and procurement, said in a statement.
The agreement is the latest example of countries, particularly wealthier Western nations, rushing to secure doses of a potential vaccine for the coronavirus, which has infected more than 25.2 million people around the world and killed at least 846,900 people, according to data compiled by Johns Hopkins University. Canada previously announced similar deals with Pfizer and Moderna, two front-runners in the race for a vaccine.