The Coalition for Epidemic Preparedness Innovations (CEPI) is looking to invest up to $2 billion to develop a COVID-19 vaccine.
The $2 billion funding call will enable CEPI to expand the number of vaccine candidates to increase the chances of success and fund clinical trials for these candidates. CEPI hopes to have at least three vaccine candidates submitted to regulatory authorities for licensure for use in outbreaks.
There are four funding phases. The first is $100 million immediately to support vaccine development for eight candidates through phase 1 clinical trials. The second is for $375 million by the end of March to support the manufacturing of clinical trial material for phase two and three trials for four to six vaccine candidates. The third is for $400 million by the end of June to support the execution of phase two/three trials for at least two candidates. The fourth is for $500 million to $750 million in 2021 to support enhancing global manufacturing capacity.
The World Bank has created a financial vehicle that allows funds to be returned to donors if they are not used for the COVID-19 response or if the scenario changes and vaccine development is deemed unwarranted. However, at the donor’s discretion, the funds may be retained at the World Bank for use in a future scenario.