The $5 billion Project NextGen coordinates across the federal government and private sector to advance innovative vaccines and therapeutics into clinical trials, regulatory review and potential commercial availability. The project builds on a better understanding of COVID-19, with HHS developing, using and constantly reevaluating the strengths and weaknesses of current vaccines and therapeutics over three years. The announced awards include:

• $1 billion to four Biomedical Advanced Research and Development Authority (BARDA) clinical trial partners to support vaccine clinical trial studies;
• $326 million to Regeneron to support the development of a next-generation monoclonal antibody for COVID-19 prevention;
• $100 million to Global Health Investment Corp., the non-profit organization managing the BARDA Ventures investment portfolio, to expand investments in new technologies that will accelerate responses in the future; and
• $10 million to Johnson & Johnson Innovation for a competition through Blue Knight, a BARDA-Johnson & Johnson partnership.

Related: CDC: 1 in 4 Americans has never caught COVID, after 3 years

The awards to BARDA's Clinical Studies Network will speed the development of new vaccine candidates, providing a network of at-the-ready trials with the flexibility to pivot to the most promising new vaccines as they mature. The partnership with Regeneron is advancing its efforts to prevent COVID-19 infections by developing a novel monoclonal antibody that will protect people who do not respond to or cannot take existing vaccines, which is a critical need and current gap in COVID-19 therapeutics. The remaining awards will fund technologies that enable more efficient development and manufacturing strategies, accelerating development timelines across the board and bolstering future vaccine and therapeutic availability.

"As the virus continues to evolve, we need new tools that keep pace with those changes," said Dawn O'Connell, assistant HHS secretary for preparedness and response. "Project NextGen combines the research and development expertise at HHS with the lessons we have learned about the virus throughout the pandemic, strengthening our preparedness for whatever comes next."

HHS plans to grant more awards by the end of the fiscal year, the release said.