Inovio, Advaccine to Share $100M in Cost for Late-Stage COVID-19 Vaccine Trial

Inovio Pharmaceuticals Inc INO has expanded its partnership with Advaccine Biopharmaceuticals Suzhou Co Ltd to jointly conduct a global Phase 3 part of the ongoing Phase 2/3 trial, INNOVATE, assessing its DNA COVID-19 vaccine candidate.
The trial will evaluate the safety and efficacy of INO-4800 in a two-dose regimen (2.0 mg), administered one month apart, in two-to-one randomization in subjects 18 years and older across several countries, primarily in Latin America and Asia.
The primary endpoint of the Phase 3 segment will be virologically confirmed COVID-19 disease.
Under the expanded collaboration, Inovio and Advaccine will share the total cost of the planned global Phase 3 trial estimated at approximately $100 million, equally.
Now Advaccine will have rights to additional Asian countries outside of Greater China.
The companies plan to start the Phase 3 trial this summer.
Price Action: INO shares up 0.47% at $8.48 during the market session on the last check Tuesday.