Health company Emergent BioSolutions Inc. (EBS) announced Wednesday an agreement with Switzerland's Rocketvax Ltd for strategic financial investment in its parent Swiss Rockets Ltd. to support research, and infrastructure development. The companies also agreed to the expansion of Swiss Rockets' innovative biotechnology portfolio.
In pre-market activity on the NYSE, Emergent BioSolutions shares were gaining around 3.1 percent to trade at $5.70.
In addition to the investment, the companies intend to form a strategic partnership, under which Emergent would lead the U.S. manufacturing and commercialization efforts for four of Rocketvax's pipeline candidates for infectious diseases, cancer, and autoimmune disorders.
Rocketvax has already signed a letter of intent with the U.S. National Institutes of Health or NIH for one of these pipeline candidates. The Rocketvax / NIH collaboration is part of the Project NextGen initiative. It will support a clinical trial investigating a next generation vaccine using Rocketvax's proprietary technology.
Joe Papa, President and CEO of Emergent, said, "We are excited to partner with Rocketvax to accelerate the development of innovative products that address significant public health challenges. As Rocketvax is poised to progress its pipeline, we will stand ready to leverage our unique capabilities to ultimately bring these solutions to patients and communities in need. These four projects directly support Emergents strategic focus on growth and turnaround as part of our multi-year transformation plan."
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