Ology Bioservices, DOD offer $14Mn to develop COVID-19 antibody
Category: #health  By Mateen Dalal  Date: 2020-03-24
  • share
  • Twitter
  • Facebook
  • LinkedIn

Ology Bioservices, DOD offer $14Mn to develop COVID-19 antibody

In a bid to expedite the COVID-19 drug development process, Ology Bioservices Inc., a privately held American biopharmaceutical firm, along with the Department of Defense (DOD) decided to award a contract worth $14 million, to manufacture and develop a monoclonal antibody for prevention and treatment of infection caused by COVID-19.

Reportedly, this initiative is backed by the Assistant Secretary of Defense for Health Affairs’ Office with funding pouring in from the Defense Health Agency. As a result of this program, Ology Bioservices would join hands with Nashville’s Vanderbilt University Medical Center (VUMC) to manufacture and develop the monoclonal immunoglobulin.

Apparently, this program focuses on efficiently and rapidly providing the antibody to the Department of Defense. Meanwhile, under VUMC’s proposed terms of impending deal, Vanderbilt Vaccine Center’s (VVC) researchers would be tasked to boost their antibody discovery efforts for the performance facility of the U.S. DARPA’s Pandemic Prevention Platform (P3) network.

Speaking on the move, Peter H. Khoury, Ph.D., Chief Executive Officer and President, Ology Bioservices, said that the company is honored to work alongside Vanderbilt University Medical Center and the Department of Defense to immediately mitigate this pandemic.

In fact, Ology Bioservices operated manufacturing facility and advanced development centers readily stand by to fulfill every need of the American warfighter as well as the nation at large.

Meanwhile, Douglas Bryce, Joint Program Executive Officer, CBRN Defense, commented that the medical countermeasures manufacturing and advanced development facility was created for such global health epidemic scenarios.

This facility allows DOD and interagency collaborators like human and health services, alongside its allies in academia and industry to quickly respond and create the treatments for those warfighters who are currently fighting against COVID-19 for the nation.

As for Matthew Hepburn, M.D., Joint Project Lead of CBRN Defense, Enabling Biotechnologies, said that this contract indicates the prior investment’s realization in the DOD Manufacturing and Advanced Development facility, so as to quickly address pandemics and biological threats.

Source Credit: https://finance.yahoo.com/news/ology-bioservices-vanderbilt-university-medical-182500334.html

 

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal    

Mateen Dalal

A qualified electronics and telecommunication engineer, Mateen Dalal embarked on his professional journey working as a quality and test engineer. Harnessing his passion for content creation however, Mateen pens down industry-rich articles for ReportsGO.com and a few o...

Read More

More News By Mateen Dalal

AstraZeneca to present results of Farxiga’s DAPA-CKD trial at ESC 2020
AstraZeneca to present results of Farxiga’s DAPA-CKD trial at ESC 2020
By Mateen Dalal

According to reliable sources, British-Swedish multinational pharmaceutical company AstraZeneca plc will present the much awaited results of the Phase III DAPA-CKD trial of Farxiga in CKD (chronic kidney disease) at ESC Congress 2020. Sources with r...

FDA grants Emergency Use Authorization to Abbott’s COVID-19 antigen
FDA grants Emergency Use Authorization to Abbott’s COVID-19 antigen
By Mateen Dalal

Abbott Laboratories, a U.S.-based medical devices and healthcare firm, has reportedly received the Emergency Use Authorization (EUA) from the U.S. FDA (Food and Drug Administration) for the detecting COVID-19 virus with its portable antigen test Bina...

Hyundai Wia Corp. signs gun parts export contract with BAE Systems
Hyundai Wia Corp. signs gun parts export contract with BAE Systems
By Mateen Dalal

Hyundai Wia Corp., a South Korea-based defense firm, has reportedly signed gun parts export contract with BAE Systems plc of worth USD 100 million via a pre-value accumulation system. As per the agreement, Hyundai Wia will supply over 106 types of gu...