Danish vaccine company Bavarian Nordic A/S (BVNKF.PK) announced Wednesday that it has entered into an agreement to sell its Priority Review Voucher or PRV for a total cash consideration of $160 million.
The deal is expected to occur in the third quarter of 2025, subject to customary closing conditions, including anti-trust review.
Bavarian Nordic was awarded the PRV in February 2025 following the U.S. Food and Drug Administration's approval of the chikungunya vaccine, VIMKUNYA for prevention of disease caused by chikungunya virus in people 12 years of age and older.
National Institutes of Health or NIH will receive 20% of the gross proceeds from the sale of the PRV, pursuant to a license deal assumed upon acquisition of the chikungunya vaccine in 2023.
The company said the proceeds from the sale will be recognized as other operating income and thus will not impact its fiscal 2025 revenue expectations.
However, EBITDA will be positively impacted and any impact on the guided EBITDA margin of 26-30% for 2025 will be updated upon closing of the transaction.
In the deal, Jefferies LLC acted as exclusive financial advisor to Bavarian Nordic.
In Copenhagen, Bavarian Nordic shares were trading at 178.75 Danish krone, up 2.20%.
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