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Providence’s COVID-19 mRNA Vaccine Challenger Seen In Phase III In Q1

Canadian Firm To Raise Further $400m

Executive Summary

A possible alternative to Pfizer and Moderna’s COVID-19 vaccines, Providence Therapeutics’ mRNA candidate is seen moving into Phase III trials during the calendar first quarter of next year. While partners Everest Medicines and Biological E have kept the ball rolling, the Canadian biotech will seek further funding, CEO Brad Sorenson tells Scrip in this audio interview.

Pfizer Inc. and Moderna, Inc. have undoubtedly created a success story with their mRNA vaccines against COVID-19. However, their reluctance to share the technical know-how involved is leading to a demand-supply gap that is permitting other mRNA vaccine companies to step in.

Brad Sorenson, CEO Providence Therapeutics

Providence Therapeutics CEO Brad Sorenson

One such contender is Providence Therapeutics Holdings Inc., which has two candidates - PTX-COVID19-B that acts in a similar manner to their other vaccines and PTX-COVID19-LT, which is being developed to have a longer-lasting immune response.

The biotech has received some funding from the Canadian government as well as upfront payments from its Indian partner Biological E Limited. and Chinese partner Everest Medicines Limited. It now plans to seek a further $400m in funding, CEO Brad Sorenson tells Scrip in this audio interview.

Along with Biological E and its North American partners - Emergent BioSolutions, Inc. and Northern Therapeutics Inc.- Providence aims to produce 1-1.5 billion doses of its coronavirus vaccines.

In the interview, Sorenson also discusses vaccines against cancer that are part of Providence Therapeutics’ suite of mRNA products.

Time Stamps

00:10 Introduction

00:47 Setting up capabilities for mRNA vaccines

01:30 How do the two COVID-19 vaccine candidates differ?

02:48 Phase II, Phase III clinical trials details

03:39 Partnerships with Biological E, Everest Medicines, Emergent Biosolutions, Northern

06:26 Potential as a booster dose

07:41 Participation in Solidarity Trials and COVAX

08:58 Development of anti-cancer vaccines

10:27 Funding from Canadian government so far

11:56 Future pathways to raising funds

This and all our other podcasts are available on the Informa Pharma Intelligence channel on Apple PodcastsGoogle PodcastsSoundCloudTuneIn and Spotify Podcasts, and via smart speakers if one of these platforms has been set up as your default podcast provider.  

Related Stories

(Also see "Ex-Hilleman CEO On COVID-19 Vaccine Heterologous Boosting, Endemic Disease" - Scrip, 28 Sep, 2021.)

(Also see "Chinese Biotechs' Foray Into mRNA Enters New Chapter With $100m Everest Deal" - Scrip, 15 Sep, 2021.)

(Also see "Indian Biotech In mRNA Push As COVID-19 Vaccine Moves To Phase II" - Scrip, 26 Aug, 2021.)

(Also see "How Pfizer Crafted Its Own ‘Operation Warp Speed’ For The COVID-19 Vaccine" - Scrip, 24 Jun, 2021.)

(Also see "Moderna Sees COVID-19 Vaccine Surplus By 2022 If Constraints Ease" - Scrip, 26 Apr, 2021.)

(Also see "AstraZeneca Moves Into Self-Amplifying RNA With VaxEquity Deal" - Scrip, 23 Sep, 2021.)

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