Novavax and Sanofi enter $500M upfront collaboration; Sanofi buys $68.8M in stock

NOVAVAX INC

$500M non-refundable upfront payment; up to $700M in milestones for COVID products.
Additional milestones up to $200M per Adjuvant Product (first four); royalties mid-single to low-twenties percent.
Sanofi acquires 6.88M shares at $10/share (~$68.8M) in private placement.
Sanofi gets co-exclusive rights to commercialize Novavax's COVID vaccines globally from 2025/2026 season.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NOVAVAX INC entered into Collaboration and License Agreement with Sanofi Pasteur Inc. valued at $500 million (effective 2024-05-10).

Action: entry
Agreement: collaboration
Counterparty: Sanofi Pasteur Inc.
Value: $500 million
Effective: 2024-05-10

Exact text from the filing

On May 10, 2024, Novavax, Inc. (the “Company”) entered into a collaboration and license agreement (the “Collaboration and License Agreement”) with Sanofi Pasteur Inc. (“Sanofi”)

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290 material agreements filed in the last 30 days. Browse all material agreements →

NOVAVAX INC filing history →

Source: SEC EDGAR

accession 0001104659-24-060444

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