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In 2016, Moderna received $8 million with the potential for up to $125 million from the Biomedical Advanced Research and Development Authority, a component of the U.S. Department of Health and Human Services, to accelerate development of an mRNA vaccine for Zika. (The company is still working on that project.)What makes the bankrolling of Moderna’s Covid-19 vaccine so extraordinary, Foroohar said, was the scale, which “reflects how unusual the pandemic is and the fact that this is very literally a once-in-a-lifetime event.”
The following year, it was bought by Gilead NASDAQ: GILD and its immunotherapy subsidiary, Kite, for $567 million. Since then, Kite has begun recruiting for a clinical trial of its solid tumor CAR-T candidate, but it has not yet moved past Phase 1.
The three-year collaboration, announced Wednesday, has initial funding of $7.28 million.Current gene therapy approaches being developed for sickle cell disease are complex, enormously expensive, and bespoke, crafting treatments for individual patients one at a time. The collaboration aims to instead create an off-the-shelf treatment that bypasses many of the steps of current approaches, in which cells are removed and processed outside the body before being returned to patients.
Efficacy rates for China’s Covid vaccines have been found to be lower than those developed by Pfizer-BioNTech (NYSE PFE) (NASDAQ:BNTX) and Moderna. (NASDAQ MRNA) Earlier this month, the director of the Chinese Center for Disease Control publicly acknowledged that Chinese vaccines “don’t have very high protection rates” and that they were considering giving people different Covid shots to boost vaccine efficacy.
From January 2020 through January of this year, Moderna stock has dropped significantly three times. And each time, it recovered and climbed above its previous record high. It looks like that now may be happening for the fourth time. This may be a pattern of investors locking in profits, then repurchasing shares at a lower price -- and newcomers jumping aboard too.
Avalon GloboCare Corp. (NASDAQ: AVCO) is a clinical-stage, vertically integrated, leading CellTech bio-developer with potential blockbuster prospects in immune effector cell therapy, exosome technology, as well as COVID-19 related diagnostics and therapeutics. Avalon also provides strategic advisory and outsourcing services to facilitate and enhance its clients' growth and development, as well as competitiveness in healthcare and CellTech industry markets.
As big pharma races to save millions of lives there is a smaller less known “sleeping giant” in the CAR-T space developing advanced S-layer technology with limitless applications in the key development of an intranasal vaccine.
Now, due to “regulatory uncertainties” and the time and resources needed to provide the additional data, Merck said it decided to discontinue the development of the drug and instead focus its efforts on advancing its other Covid-19 drug as well as accelerating production of the Johnson & Johnson vaccine.
The rate of new U.S. coronavirus cases remains elevated as the country tries to ramp up its vaccination campaign following the distribution halt of Johnson & Johnson’s Covid-19 vaccine.The country is reporting about 71,200 new Covid cases per day, based on a seven-day average of data from Johns Hopkins University.