Moderna CEO Stephane Bancel told CNBC on Friday that the funding is critical in aiding manufacturing efforts for their potential vaccine.
"Instead of waiting for the data and then scaling up with manufacturing process ... we can make as many doses as we can. We are doing both in parallel," he said. The companyBancel said the company "couldn't have done this" without the funding commitment from the Biomedical Advanced Research and Development Authority, which is part of the Department of Health and Human Services.
Bancel on Friday reiterated Moderna's timeline for vaccine development. He said it hopes to have safety data from the Phase 1 trial this spring, which could allow it to advance to the next stage in the second quarter of this year.
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