Novavax advances the development of novel COVID-19 vaccine, with the vaccine candidate derived from coronavirus spike (S) protein. Matrix-M™ adjuvant is expected to boost immune responses. On 10 March 2020, Novavax announced that CEPI, the Coalition for Epidemic Preparedness Innovations awarded an initial funding of $4 million to support Novavax’ efforts to develop a COVID-19 vaccine. CEPI and Novavax are having ongoing discussions on additional funding from CEPI to address Novavax’ costs through Phase 1.