Sanofi (SNYNF, SNY) and Novavax Inc. (NVAX) announced a co-exclusive licensing agreement to co-commercialize COVID-19 vaccine and develop Novel COVID-19-Influenza combination vaccines. In addition, Sanofi will take a minority equity stake below 5% in Novavax.
The agreement encompasses several key terms: a co-exclusive license for global co-commercialization of Novavax's current standalone adjuvanted COVID-19 vaccine, with exceptions for countries covered by existing Advance Purchase Agreements and in India, Japan, and South Korea due to preexisting partnership agreements; a sole license to employ Novavax's adjuvanted COVID-19 vaccine alongside Sanofi's flu vaccines, while Novavax maintains the rights to develop its own COVID-19-Influenza Combination vaccine; a non-exclusive license for utilizing Novavax's adjuvanted COVID-19 vaccine in combination with non-flu vaccines; and a non-exclusive license for incorporating the Matrix-M adjuvant in vaccine products.
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