The deal will allow Novavax to lift its 'going concern' warning, which it first issued in 2023 due to having 'substantial doubt' about its ability to survive.
Novavax has signed a multibillion-dollar deal with French drugmaker Sanofi to co-commercialize the company's Covid vaccine starting next year.
It marks a turning point for the struggling vaccine maker and its protein-based Covid shot. Health officials view the vaccine as a valuable alternative for people who don't want to take messenger RNA jabs from, to develop new vaccine products. Sanofi will pay Novavax an upfront payment of $500 million and up to $700 million in payments for development, regulatory and launch milestones.
The deal also allows Sanofi to develop products that combine its flu shot or other in-house vaccines with Novavax's Covid jab. Sanofi can also use Novavax's Matrix-M adjuvant to develop new vaccine products.
Biotechnology Biotech And Pharmaceuticals Pharmaceuticals Health Care Industry Sanofi SA Novavax Inc Sanofi SA Pfizer Inc Moderna Inc Breaking News Science Business News
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biotech firms Genentech, Sanofi laying off hundreds at South San Francisco locationsGenentech and Sanofi are laying off hundreds of workers as the biotech giants wind down operations at facilities in South San Francisco.
Read more »
Sanofi Q1 profit slips on generic competition, forex effectsSanofi Q1 profit slips on generic competition, forex effects
Read more »
Factcheck—False: Current at-home COVID tests cannot detect latest variants of COVID-19Some people have claimed that these new variants can’t be detected by over-the-counter COVID tests. This claim is false.
Read more »
Lancet study finds Covid-19 viral proteins in blood of 25% of people post-CovidResearchers provide an important clue to Long Covid, finding viral proteins in the blood of 25% of people more than a year after infection.
Read more »
An adjuvant made in yeast could lower vaccine cost and boost availabilityVaccines save lives, as proven during the recent pandemic, but one component of most vaccines—including the Novavax COVID-19 vaccine—goes unheralded: a molecule or other compound that primes the immune system to mount a more robust defense against infection.
Read more »
12-year-old boy describes 4-year battle with 'invisible' disease of long COVIDTheo Huot de Saint-Albin was just 9 when he first contracted COVID in 2020.
Read more »