U.S. drugmaker Merck (NYSE: MRK) on Tuesday said it plans to work alongside nonprofit scientific research organization IAVI to develop a potential vaccine against the coronavirus.
The announcement comes as drugmakers pause other clinical trials and scramble to find an antidote for COVID-19, which has infected more than 5.5 million people worldwide and killed over 346,000.
Most experts agree could take 12 to 18 months to roll out a safe vaccine to the market. And, even if an effective vaccine becomes available, many have warned of significant logistical challenges around distributing enough doses for the global population.
In a statement, Merck and IAVI said their vaccine candidate would use the recombinant vesicular stomatitis virus technology that is the basis for its Ebola Zaire virus vaccine — which was the first rVSV vaccine approved for use in humans.
Ebola Zaire is one of six known species within the genus Ebola virus, an acute deadly illness. The virus causing the current outbreak in the Democratic Republic of Congo, and the 2014 to 2016 West African outbreak, belongs to the Ebola Zaire virus species, according to the World Health Organization.
Designed and engineered by IAVI scientists in New York, the vaccine candidate for COVID-19 is in preclinical development. Clinical studies are expected to start this year.
If approved, Merck said both organizations would work together to develop the vaccine and "make it accessible and affordable" worldwide.
Merck shares acquired 65 cents to $77.01
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