AstraZeneca was awarded up to $486 million from the U.S. government for the late-stage development and large-scale manufacture of AZD7442, a cocktail of two monoclonal antibodies, for the potential treatment or prevention of SARS-CoV-2, the virus that causes COVID-19.

The funding will be used for two Phase III trials and related development and manufacturing for the supply of AZD7442 doses in the U.S. One trial will evaluate the safety and efficacy of AZD7442 to prevent infection for up to 12 months in approximately 5,000 participants. The second trial will evaluate post-exposure prevention and treatment in approximately 1,100 participants. AstraZeneca is planning additional trials to evaluate AZD7442 in approximately 4,000 patients for the treatment of COVID-19.

AstraZeneca plans to supply up to 100,000 doses beginning in late 2020 and the U.S. government can acquire up to an additional one million doses in 2021 under a separate agreement.