Issue Date: July 13, 2009
Novavax In Vaccine Deal With Rovi
Novavax is licensing its recombinant virus-like-particle (VLP) vaccine technology to Madrid-based Rovi Pharmaceuticals for the development of vaccines under an $83 million program sponsored by the Spanish Ministry of Health. Novavax, based in Rockville, Md., says it is also negotiating a broader licensing deal with Rovi under which the Spanish firm will receive exclusive licenses to Novavax' technology to commercialize flu vaccines in Spain and Portugal and nonexclusive licenses for Europe, Latin America, and Africa. According to Novavax, Rovi will make a $3 million equity investment in Novavax and has established a nonprofit foundation with a $35 million credit line from the Spanish government to commercialize VLP-based vaccines in the European Union starting in 2012.
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