Regeneron in $326M contract with feds for new Covid therapy

Tarrytown-based Regeneron Pharmaceuticals announced this afternoon that it has reached an agreement with the federal government for its Biomedical Advanced Research and Development Authority (BARDA) to support the clinical development, clinical manufacturing and the regulatory licensure process of a next-generation Covid-19 monoclonal antibody therapy. The federal government has contracted to pay up to $326 million to support Regeneron’s work to develop the new therapy.

Regeneron and BARDA previously worked together to deliver medicines to deal with Ebola and Covid-19. The government will fund up to 70% of Regeneron”™s costs for certain clinical development activities for a next-generation monoclonal antibody therapy for Covid.

“We”™re pleased to expand our longstanding BARDA relationship, which is predicated on Regeneron”™s decades of investment in deep scientific research and enabling technologies,” said Leonard S. Schleifer, Regeneron’s president and CEO. “We believe Regeneron can once again apply our drug discovery and development expertise to help prevent disease in vulnerable populations.”

Under the project structure, Regeneron independently invents and proposes an antibody candidate, which BARDA and Regeneron will then evaluate and agree upon for further development, manufacturing and regulatory activities. Regeneron”™s most advanced next-generation antibody candidate under this agreement is expected to enter clinical trials later this year.

New strains of Covid viruses have appeared since the disease first surfaced, requiring the development of new vaccines to build immunity and new drugs for treatment when a person becomes seriously ill.