Novavax 'confident' in scaling up to 100M vaccine doses by end of year: R&D chief

Novavax has started Phase 1 trials of its vaccine candidate

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U.S. biotech company Novavax is "confident" in its ability to scale up to 100 million doses of a coronavirus vaccine by the end of the year after starting Phase 1 trials on a vaccine candidate on Monday, Novavax president of research and development Gregory Glenn said on Tuesday.

"I'm very optimistic with our data that we can come out with a vaccine that's deployable, that could work," Glenn told FOX Business' Stuart Varney. "We think we could make 100 million doses by the end of the year for use."

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"We normally wait. ... Confirm it's working, and then you scale it up. We're not waiting. We've begun to scale up to make a vaccine that can be deployed," Glenn said.

Novavax scientist conducing vaccine development research under a laboratory hood. Courtesy Novavax

If its vaccine candidate works, Novavax could scale up to 1.5 billion doses "at least" in 2021, in part thanks to $388 million from the Coalition for Epidemic Preparedness and Innovation, Glenn said.

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Maryland-based Novavax just began dosing for the Phase 1 clinical trial in Australia. If Phase 1 is successful, Novavax will follow up with Phase 2 in multiple countries including the U.S. using participants in a broader age range.

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NVAX NOVAVAX INC. 7.67 -0.10 -1.29%

"Vaccines are really miracles. They change lives," Glenn said. "People could walk out the door knowing they're protected. That would be a complete change in the environment we're in."

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Another U.S. biotech company, Massachusetts-based Moderna, has already started a Phase 1 trial for its vaccine candidate and is reporting optimistic results, making shares jump last week.

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