CAMBRIDGE, MASS. (WHDH) - Cambridge-based biotech company Moderna secured a $1.5 billion deal with the United States government Tuesday in exchange for 100 million doses of the coronavirus vaccine.
Moderna has already received $500 million in federal funding for vaccine development and researchers said they have entered into the human trial phase of their work.
The announcement brings the U.S. government’s commitment to early access to mRNA-1273 to up to $2.48 billion, according to a release issued by Moderna.
The US will have the option to purchase an additional 400 million doses of the vaccine once it is created.
Moderna is just one of many companies working to develop a vaccine.
Russian President Vladimir Putin announced Tuesday that Russia had approved a vaccine against the virus.
Putin said that one of his two adult daughters had already been inoculated with the cleared vaccine, which he described as effective.
“She’s feeling well and has a high number of antibodies,” Putin said.
Breaking: Moderna announces a supply agreement with the U.S. government to secure an initial 100 million doses of mRNA-1273 for up to $1.525 billion with option granted to U.S. government to purchase up to an additional 400 million doses
— Moderna (@moderna_tx) August 11, 2020
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