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COVAXX gets supply deals worth $2.8 billion for potential COVID-19 vaccine

FILE PHOTO: Syringes are seen in front of a displayed U.S. flag in this illustration taken November 10, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - COVAXX, a unit of United Biomedical Inc, said on Thursday it has received purchase commitments totaling $2.8 billion to deliver more than 140 million doses of its potential COVID-19 vaccine to developing countries, including Brazil, Peru and Ecuador.

The multitope peptide-based vaccine is currently in early-stage trials in Taiwan, lagging some of the frontrunners in the race to develop a safe and effective vaccine.

The U.S.-based company signed an agreement in September with Brazilian lab and hospital group DASA S.A. to conduct mid-to-late stage trials in Brazil for the vaccine.

COVAXX estimates it can produce 100 million doses in first half of next year and 1 billion by end of 2021.

Last month, the company signed a logistics partnership with Maersk for transportation and supply chain services that will be needed to deliver the vaccine around the world.

Reporting by Mrinalika Roy in Bengaluru; Editing by Arun Koyyur

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