Brief: Bavarian Nordic And AdaptVac Sign Final License Agreement On Covid-19 Vaccine

ExpreS2ion Biotech Holding AB

22/07/2020 07:05

July 22 (Reuters) - Bavarian Nordic A/S  BAVA.CO :
    * REG-BAVARIAN NORDIC AND ADAPTVAC SIGN FINAL LICENSE
AGREEMENT ON
COVID-19 VACCINE
    * PARTIES SIGNED A HEADS OF AGREEMENT IN MAY AND HAVE NOW
CONCLUDED A LICENSE AGREEMENT THAT PROVIDES BAVARIAN NORDIC
GLOBAL COMMERCIALIZATION RIGHTS TO COVID-19 VACCINE
    * AGREEMENT TO LICENSE ADAPTVAC'S PROPRIETARY CAPSID VIRUS
LIKE
PARTICLE (CVLP) TECHNOLOGY FOR CORONAVIRUSES, INCLUDING COVID-19
INDICATION
    * UNDER TERMS OF AGREEMENT, BAVARIAN NORDIC WILL MAKE AN
UPFRONT
PAYMENT OF EUR 4 MILLION TO ADAPTVAC, IN ADDITION TO POTENTIAL
FUTURE DEVELOPMENT AND SALES MILESTONES AND TIERED ROYALTIES
    * AGREEMENT HAS NO IMPACT ON BAVARIAN NORDIC'S FINANCIAL
GUIDANCE
FOR 2020
    * AGREEMENT PROVIDES BAVARIAN NORDIC GLOBAL
COMMERCIALIZATION
RIGHTS TO COVID-19 VACCINE
    * WILL MAKE AN UPFRONT PAYMENT OF EUR 4 MILLION TO ADAPTVAC,
IN
ADDITION TO POTENTIAL FUTURE DEVELOPMENT AND SALES MILESTONES
AND TIERED ROYALTIES
    * AGREEMENT SIGNED WITH ADAPTVAC, A JOINT VENTURE
ESTABLISHED BY
EXPRES2ION BIOTECHNOLOGIES AND NEXTGEN VACCINES SPUN OUT OF
UNIVERSITY OF COPENHAGEN

Source text for Eikon:  ID:nGNE4PmSs2 
Further company coverage:  BAVA.CO 

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