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Novavax earns $125M milestone as Sanofi doses fifth patient in EU flu-COVID-19 vaccine trial
NVAXNovavax Inc
Sanofi Pasteur dosed the fifth patient in its Phase 3 influenza-COVID-19 combination vaccine trial in the European Union, triggering a $125 million milestone payment from Sanofi to Novavax under their Collaboration and License Agreement. Novavax anticipates receiving this payment by the first quarter of 2027. The trial evaluates Nuvaxovid combined with Sanofi's high-dose flu vaccine in adults aged 60 and older. Under the agreement, Novavax remains eligible for a $75 million milestone upon manufacturing technology transfer completion in mid-2027, an additional $225 million milestone upon U.S. launch, and royalties on sales of combination products utilizing Nuvaxovid or Matrix-M adjuvant. Novavax is a biotechnology company focused on developing vaccines using its protein-based nanoparticle platform and Matrix-M adjuvant technology.