GeoVax Labs Inc [NASDAQ:GOVX], a biotechnology organization that manufactures vaccines against infectious diseases and cancer and other human immunotherapies today signed a Patent and biological Materials License Agreement with the National Institute of Allergy and Infectious Diseases (NIAID) that forms part of the National Institutes of Health (NIH).
The agreement will see NIAID assist GeoVax to develop a vaccine against the SARS-CoV-2 virus that causes COVID-19.
According to the Patent agreement, GEOVax will HAVE the right to access NIAID’s stabilized SPIKE protein that the virus uses to enter into human tissue.
The company will also be in a position to utilize materials and patent rights that are a property of the United States Department of Health and Human Services (HHS) together with GeoVax’s technology for developing a vaccine that is preventative and boosts the human immune system against COVID-19 called Modified Vaccinia Ankara Virus-Virus Like Particle (MVA-VLP).
The agreement allows GOVX to have the exclusive rights to develop, produce, and commercialize the vaccine but has not relayed the financial terms of the deal.
In line with this development, GeoVax has already designed and constructed about four other COVID-19 vaccine candidates and aims to have one universal vaccine that will be effective against multiple strains of the virus. Ongoing preclinical trials are in progress in collaboration with researchers at the Medical Branch of the University of Texas.
The tests involve small animal studies of which they expect to announce results soon. There are also discussions and negotiations with relevant stakeholders to get additional financial support as well as secure necessary research facilities and materials to accelerate the clinical trials.
Commenting on the agreement, GeoVax Chief Executive Officer, David Dodd said that signing the deal with NIAID is vital for the company’s ongoing COVID-19 vaccine development and reflects on the company’s desire to quickly advance this venture.
He also applauds Dr. Bernard Moss of the NIAID Laboratory of Viral Diseases (LVD) and his team for their consistent research efforts and contributions towards the development of this vaccine.
Dodd further added that GeoVax Labs Inc [NASDAQ:GOVX] anticipates the necessity of the development of multiple COVID-19 vaccines to cover a wider range of public health and especially address the needs among populations with higher cases of individuals with compromised immune systems and especially the older individuals and those with co-morbidities or prevailing medical conditions. Working on the GV-MVA-VLP platform and the efficacy and safety of MVA, there is a potential of developing a vaccine which if successful, will see it address COVID-19 and other related infections.