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.
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
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