(Photo: REUTERS/Amir Cohen)
Israel has signed up for the future acquisition of its potential COVID-19 drug with Moderna Inc should the biopharma group succeed in its development, Israel Hayom disclosed on Tuesday.
Due to tight controls imposed on its constituents and the economy, Israel has been able to keep the pandemic largely under control, and many top organizations in the Jewish state are currently working to create a vaccine for SARS-CoV-2, the virus at the center of the epidemic.
The vaccine is in early developmental stages, after 45 patients were administered with the vaccine in Phase One trials and exhibited impressive outcomes.
Phase Two, which Moderna announced it was concluding, was intended to test the effectiveness of the vaccine, which was shown to be safe for use on humans, and although results have not yet been made public, it is believed that individuals who were vaccinated showed an increased amount of antibodies that exceeded those of patients recovering from the virus.
Contingent on the treatment being developed, the US-based biotech firm will provide a significant quantity of mRNA-1273 as soon as it becomes ready, reports in Hebrew-language Israeli media disclosed. Details of the agreement, like deliverables and pricing, have yet to be finalized. Moderna has yet to issue an official statement regarding the deal.
Moderna's stock price (MRNA) was up nearly 4 percent to $64.43 on the heels of the COVID-19 vaccine deal report by Israel's news website, Ynet. Moderna's shares have so far climbed three-fold this year.
The Cambridge, Massachusetts-based company is moving ahead in a big step forward with preparations for a July Phase Three clinical trial of mRNA-1273, with preparations to dose 30,000 volunteers.
The mRNA-1273 vaccine functions by preventing the production of a cellular protein that let the novel coronavirus to cling onto cells. That blocks it from reproducing and spreading through the body.
The Ministry of Health on Monday disclosed it has noticed a disturbing rise in the number of Israelis getting sick with the coronavirus as 182 new cases have been recorded nationwide since Sunday.
Around 19,338 Israelis have been infected with the disease since middle of March when the pandemic ravaged the country. The virus has claimed the lives of 302 Israelites, while 15,438 patients have recovered.
According to Channel 13 News, under the terms of the deal, the vaccine if successful, will be exported to Israel. No other details were reported. A Health official said that the government plans to seal similar accord with other pharmaceutical firms.
