Moderna Inc MRNA is progressing rapidly in its program to develop an mRNA vaccine for SARS-CoV-2, codenamed mRNA-1273.
What Happened
The Luxembourg-based contract development and manufacturing organization Corden Pharma announced Thursday an amendment to its existing manufacturing agreement with Moderna that will enable it to manufacture large-scale volumes of the latter's lipid excipients to be used in the making of mRNA-1273.
The manufacturing will be done by CordenPharma facilities in France and Colorado.
The expanded agreement comes into force immediately in order to rapidly meet Moderna's increasing demand over the coming months, CordenPharma said.
The original agreement was signed between Modern and CordenPharma Switzerland in 2016.
Why It Matters
Moderna released positive interim Phase 1 data earlier this month from a NIAID-sponsored trial, showing dose-dependent increases in immunogenicity across three dose levels and between prime and boost within the 25-microgram and 100-microgram dose levels of RNA-1273.
The company is expected to commence a Phase 2 study shortly, having had its IND cleared by the FDA. The company is also planning to initiate a Phase 3 study in July.
Moderna's vaccine candidate is touted to be one of the likeliest vaccines in development to move past the finish line.
At last check, Moderna shares were rising 7.85% to $56.28.
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