May 10, 2024

$1,400M

$500M

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–

$900M in development, regulatory, and commercial milestones.

Double-digit royalties

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Novavax granted Sanofi co-exclusive, worldwide ex India, Japan, and South Korea rights to develop and co-commercialize COVID-19 and flu-COVID-19 combination vaccines using Novavax’s recombinant protein and nanoparticle technologies and a non-exclusive license to use the Matrix-M adjuvant.

Development and Commercialization License

Collaborative Development, No Shared Cost , Co-Promotion

• Novavax granted Sanofi co-exclusive rights to develop and co-commercialize COVID-19 and flu-COVID-19 combination vaccines, excluding India, Japan, and South Korea.
• Novavax to receive up to $1.4B total, including $500M upfront, up to $700M in milestones, and tiered double-digit royalties.
• Novavax eligible for up to $200M in commercial milestones and mid-single digit royalties for additional Sanofi vaccines using Novavax’s Matrix-M adjuvant.
• Sanofi will receive a minority equity investment (<5%) in Novavax.

DealForma’s Deal of the Month selection is based on the largest disclosed upfront cash and equity total in partnership deals involving R&D as announced in the month prior to this article. Data for this analysis was compiled using the DealForma biopharma deals database. All data are based on publicly disclosed figures and deal terms.

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