Novavax inks new COVID-19 vaccine accord with Serum Institute of India

US biotech Novavax’ (Nasdaq: NVAX) shares were up nearly 6% at $111.90 late morning on Tuesday, after it announced an amendment to its existing agreement with the Serum Institute of India Private (SII) under which the latter will also manufacture the antigen component of NVX‑CoV2373, Novavax’ COVID‑19 vaccine candidate.

With this agreement, Novavax increases its manufacturing capacity of NVX-CoV2373 to over two billion doses annually, when all planned capacity has been brought online by mid-2021. NVX‑CoV2373 is a stable, prefusion protein made using Novavax’ recombinant protein nanoparticle technology and includes Novavax’ proprietary Matrix‑M adjuvant.

“Today’s agreement with Serum Institute enhances Novavax’ commitment to equitable global delivery of our COVID-19 vaccine. With this arrangement, we have now put in place a global supply chain that includes the recently acquired Praha Vaccines and partnerships with leading biologics manufacturers, enabling production on three continents,” said Stanley Erck, president and chief executive of Novavax, adding: “We continue to work with extraordinary urgency to develop our vaccine, now in Phase II clinical trials, and for which we anticipate starting Phase III efficacy trials around the world in the coming weeks.”