CAMBRIDGE, Mass. (WBZ NewsRadio) — Moderna, a Cambridge-based biotech company, is being awarded with additional funding as they expand the Phase 3 clinical trial of their coronavirus vaccine.
Biomedical Advanced Research and Developmental Authority (BARDA) has agreed to give Moderna another $472 million. This is on top of the $438 million BARDA has already given to the biotech company, bringing the total up to about $955 million.
Phase 3 of Moderna’s clinical trial began on Monday. The trial was initially going to have a smaller number of participants, but that has been expanded to include 30,000 participants.
“We thank BARDA for this continued commitment to mRNA-1273, our vaccine candidate against COVID-19.” Stéphane Bancel, Moderna’s Chief Executive Officer, said. “Encouraged by the Phase 1 data, we believe that our mRNA vaccine may aid in addressing the COVID-19 pandemic and preventing future outbreaks.”
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