Novavax has received $1.6bn under the US Government’s Operation Warp Speed (OWS ) programme to support the development and manufacturing of its Covid-19 vaccine candidate.

Named NVX‑CoV2373, the vaccine is made up of a stable, prefusion protein created using the company’s nanoparticle technology and includes its Matrix‑M adjuvant.

The company will use the funding for late-stage clinical development, large-scale manufacturing and to deliver 100 million doses of NVX‑CoV2373 by late 2020.