Sanofi to buy up to 5% stake in Novavax (Il Sole 24 Ore Radiocor) - Paris, 10 May - The French pharmaceutical group Sanofi said that entered an agreement to commercialise the Covid-19 vaccine of the US firm Novavax.

The agreement includes a co-exclusive license to co-commercialize Novavax's current stand-alone adjuvanted Covid-19 vaccine worldwide, except in countries with existing advance purchase agreements and in India, Japan and South Korea where Novavax has existing partnership agreements.

It also comprises a sole license to Novavax's adjuvanted Covid-19 vaccine for use in combination with Sanofi's flu vaccines and a non-exclusive license to use the Matrix-M adjuvant in vaccine products. In addition, Sanofi will buy less than 5% in Novavax.

Novavax will receive an upfront payment of 500 million dollars and up to 700 million in development, regulatory and launch milestones, up to 1.2 billion in total.

Starting in 2025, Sanofi will book sales of Novavax's adjuvanted Covid-19 vaccine and will support certain R&D, regulatory, and commercial expenses.

Novavax will receive tiered double-digit percentage royalty payments on sales by Sanofi of Covid-19 vaccines and flu-Covid-19 combination vaccines.

The French company will be solely responsible for development and commercialization of any novel flu-Covid-19 combination vaccine containing a Sanofi flu vaccine.

Outside of the collaboration, each party may develop and commercialize their own flu-Covid-19 vaccines and adjuvanted products at their own cost.

Novavax is entitled to additional launch and sales milestones opportunities of up to 200 million dollars plus mid-single digit royalties for each additional Sanofi vaccine product developed under a non-exclusive license with Novavax's Matrix-M adjuvant technology, Sanofi explained.

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(RADIOCOR) 10-05-24 13:17:14 (0368) 5 NNNN