The drug company Novavax, headquartered in Gaithersburg, MD, announced that it is getting $384 million in funding to develop a vaccine and is advancing clinical trials.

The funding is from the Coalition for Epidemic Preparedness Innovations (CEPI) and is on top of CEPI’s initial $4million investment.  CEPI is a global foundation focused on accelerating the development of vaccines to fight infectious diseases.  CEPI’s headquarters is Norway.

Novavax says it began enrolling participants in a Phase 1/2  clinical trial on Monday. 

The Phase 1/2 clinical trial is being conducted in two parts. The Phase 1 portion is a randomized, observer-blinded, placebo-controlled trial designed to evaluate the immunogenicity (or the ability to provoke an immune response) and safety of its potential vaccine. The trial is enrolling approximately 130 healthy participants 18 to 59 years of age at two sites in Australia.  The trial will assess two different size and composition doses.

The Phase 2 portion is expected to be conducted in multiple countries, including the United States, and would assess immunity, safety and COVID‑19 disease reduction in a broader age range.

Novavax’s web site says the company is a clinical-stage biotechnology company committed to delivering novel products to prevent a broad range of infectious diseases.

Any news of a potential vaccine is positive, but health experts note that any potential vaccine must prove to be safe and effective before it can be widely used.