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Novavax licenses VLP technology to ROVI Pharmaceuticals
August 2009
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Novavax licenses VLP technology to ROVI Pharmaceuticals

ROCKVILLE, Md.Novavax Inc. has agreed to license its proprietary, recombinant virus-like-particle (VLP) vaccine technology to ROVI Pharmaceuticals of Spain, the companies announced last month. ROVI will use the VLP technology to create a
comprehensive influenza vaccine solution for the Spanish government under a new $84 million program sponsored and led by the Spanish Ministry of Health and other government groups to develop pandemic and seasonal flu vaccines and establish its only in-border facility. Under separate agreements that are being negotiated by both companies, ROVI will receive exclusive licenses to Novavax's portable VLP vaccine technology to commercialize flu vaccines in Spain and Portugal and non-exclusive licenses in Europe, Latin America and Africa. ROVI will also make a $3 million equity investment in Novavax at $2.74 per share, a 10 percent premium to its June 29 closing bid price.

 

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