HHS Allocates $500M for Innovative COVID-19 Vaccines

The U.S. Department of Health and Human Services (HHS) is allocating up to $500 million for mid-stage trials evaluating nasal spray and pill vaccines against COVID-19. This funding, part of Project NextGen, aims to develop innovative vaccines for broader protection. Companies Vaxart, Castlevax, and Cyanvac will receive significant support.

The U.S. Department of Health and Human Services (HHS) said on Thursday it will provide up to $500 million for mid-stage trials evaluating vaccines administered as a nasal spray or pill to protect against symptomatic COVID-19. The funding is part of Project NextGen, a $5 billion initiative led by the Biomedical Advanced Research and Development Authority (BARDA), to advance a pipeline of new, innovative vaccines and therapeutics providing broader and more durable protection against COVID-19 infection.

BARDA, which helps companies develop medical supplies to address public health threats, is a part of HHS. The project is awarding up to $453 million to Vaxart for a study that will evaluate its oral COVID vaccine. The company's shares more than doubled to $1.78 after market.

It is also awarding privately held Castlevax and Cyanvac around $34 million and $40 million, respectively, to develop their intranasal vaccine candidates. Each trial will enroll 10,000 volunteers and compare the efficacy and safety of the investigational vaccines to FDA-licensed vaccines.

"Currently approved COVID-19 vaccines are administered intramuscularly and, while extremely effective, are limited in their capacity to induce a robust immune response in mucosal areas such as the mouth, nose and gut, where the SARS-CoV-2 virus first enters the body," the HHS said.

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