GlaxoSmithKline Inks New COVID-19 Vaccine Research Pact

GlaxoSmithKline (NYSE: GSK) announced Tuesday that Medicago -- a private company owned by Mitsubishi Tanabe Pharma (OTC: MTZXF) and Philip Morris International (NYSE: PM) -- will use GlaxoSmithKline's adjuvant in a COVID-19 vaccine it expects to enter phase 1 trials this month. Medicago's recombinant coronavirus "Virus-Like Particles" will be combined with Glaxo's pandemic adjuvant system to boost immune response, potentially allowing for less antigen per dose and thus, more available vaccine doses.