Innovation Pharmaceuticals Inc (IPIX)

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“This agreement with Regeneron is the first of a number of Operation Warp Speed awards to support potential therapeutics all the way through to manufacturing, allowing faster distribution if trials are successful,” said HHS Secretary Alex Azar. “More good news about COVID-19 therapeutics is constantly emerging, and President Trump’s commitment to supporting lifesaving therapeutics will help deliver these products to American patients without a day’s delay.”

This manufacturing demonstration project will take place while clinical trials are underway. Working in parallel this way shaves months off the traditional product development timeline and supports the Trump Administration’s Operation Warp Speed goal of making safe and effective medicine available as quickly as possible to save lives during the COVID-19 pandemic.

The Biomedical Advanced Research and Development Authority (BARDA), part of the HHS Office of the Assistant Secretary for Preparedness and Response, collaborated with the DoD Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense and Army Contracting Command, to provide $450 million to Regeneron for large-scale manufacturing demonstration project in the United States.