Project NextGen: White House Accelerates COVID Vaccine Development

The White House has announced a $5 billion program, Project NextGen, to accelerate the development of next-generation COVID-19 vaccines and treatments. The program aims to develop longer-lasting vaccines that protect against all COVID variants and future coronaviruses, as well as a nasal vaccine that will hopefully prevent infection as well as severe disease. The funding will also include the development of more durable monoclonal antibodies resistant to new variants. The initial allocation of $5 billion for Project NextGen will be financed through money saved from contracts costing less than originally estimated.