Summary by Moomoo AI
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