- Wednesday, October 16, 2024
Under the Project NextGen initiative by the U.S. Department of Health and Human Services, Regeneron will receive up to $326 million in government funding. This funding will cover approximately 70% of the costs associated with certain clinical development activities for the therapy.
Regeneron's most advanced antibody candidate, as part of this agreement, is expected to begin clinical trials later this year. This marks a significant milestone in the company's ongoing efforts to combat not only COVID-19 but also other infectious diseases.
This collaboration is not the first time Regeneron has worked with BARDA. The company has previously partnered with BARDA on pioneering treatments for Ebola and COVID-19. With this new funding and support, Regeneron is well-positioned to continue its groundbreaking research and make significant strides in public health.
Despite a slight dip in Regeneron's shares on Tuesday, the company has seen notable growth, with a 16.7% increase year-to-date. In comparison, the S&P 500 has risen by 14.4%.
As the fight against COVID-19 continues, Regeneron's partnership with BARDA and its commitment to research and development offer hope for a brighter and healthier future for all.
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