Move FM Global News

WASHINGTON D.C.: The Department of Health and Human Services (HHS) and the Biden administration have said that the US government will spend more than $5 billion on the development of new COVID-19 vaccines and treatments.

The investment plan, known as “Project NextGen” and first reported by the Washington Post, seeks to provide better protection against strains of coronavirus, including the type that causes COVID-19, that could threaten populations in the future.

“While our vaccines are still very effective at preventing serious illness and death, they are less capable of reducing infections and transmission over time. New variants and loss of immunity over time could continue to challenge our healthcare systems in the coming years,” the HHS said.

The minimum of $5 billion to be spent, in collaborations with the private sector, is similar to project “Operation Warp Speed,” launched under former President Donald Trump in 2020, which helped accelerate the development and distribution of vaccines.

“Project NextGen will accelerate and streamline the rapid development of the next generation of vaccines and treatments through public-private collaborations,” the White House said.

Meanwhile, HHS said, “The project will be based at the department and will coordinate across the government and with the private sector on advancing a pipeline of new vaccines and treatments, as well as cover all phases of development from lab research and clinical trials to delivery.”

The new funding will also seek to create long-lasting monoclonal antibodies resistant to new COVID-19 variants, as well as vaccines that can protect against several different coronaviruses, it added.