Novavax ties up with SK bioscience to boost supply of potential COVID-19 vaccine

Novavax Inc said on Thursday South Korea’s SK bioscience would manufacture a component of the U.S. drug developer’s experimental coronavirus vaccine in a bid to boost its supply. Shares of Maryland-based Novavax rose nearly 7% in morning trade. Novavax has received $2 billion in funding so far for its coronavirus vaccine, including $384 million from the Coalition for Epidemic Preparedness Innovations (CEPI). As part of that deal, Novavax has committed to supply its vaccine to COVAX, a scheme that aims to provide equitable access to COVID-19 vaccines across the globe. The deal with SK bioscience would help it increase the supply to meet those commitments, Novavax said.