On May 10, 2024, Novavax, Inc., a biotechnology company based in Maryland, entered into a significant collaboration and license agreement with Sanofi Pasteur Inc. The agreement grants Sanofi various licenses to commercialize Novavax's standalone COVID-19 vaccine products, including the NuvaxovidTM prototype and updated vaccines, as well as combination products that include Novavax's COVID-19 vaccine and Sanofi's seasonal influenza vaccine, among others. Novavax will receive an upfront payment of $500 million and is eligible for additional milestone payments totaling up to $700 million for the COVID-19 products, plus royalties on Sanofi's sales. For the adjuvant products, Novavax could receive up to $200 million for each of the first four products and $210 million for each subsequent product, along with royalties on sales. On...Show More

On May 10, 2024, Novavax, Inc., a biotechnology company based in Maryland, entered into a significant collaboration and license agreement with Sanofi Pasteur Inc. The agreement grants Sanofi various licenses to commercialize Novavax's standalone COVID-19 vaccine products, including the NuvaxovidTM prototype and updated vaccines, as well as combination products that include Novavax's COVID-19 vaccine and Sanofi's seasonal influenza vaccine, among others. Novavax will receive an upfront payment of $500 million and is eligible for additional milestone payments totaling up to $700 million for the COVID-19 products, plus royalties on Sanofi's sales. For the adjuvant products, Novavax could receive up to $200 million for each of the first four products and $210 million for each subsequent product, along with royalties on sales. On the same day, Novavax also entered into a Securities Subscription Agreement with Sanofi, issuing 6,880,481 shares of common stock at $10.00 per share for a total of approximately $68.8 million. These transactions have not been registered under the Securities Act of 1933 and are based on an exemption from registration. The company also provided forward-looking statements regarding the potential benefits and outcomes of the agreements, while acknowledging the risks and uncertainties inherent in such partnerships and development efforts.