Dynavax Enters Exclusive License Agreement for Vaxart's Novel Oral COVID-19 Vaccine Program

Core Insights - Dynavax Technologies Corporation and Vaxart, Inc. have entered into an exclusive worldwide license and collaboration agreement for Vaxart's investigational oral COVID-19 vaccine candidate [1][3][6] Financial Terms - Dynavax will pay Vaxart an upfront license fee of $25 million and make a $5 million equity investment [3][10] - Additional payments may include up to $50 million after Phase 2b results, $195 million in regulatory milestone payments, and $425 million in potential future net sales milestone payments [10] Vaccine Development - Vaxart's oral vaccine candidate utilizes a novel mechanism of action and delivery method, aiming to induce mucosal immunity and improve patient acceptance [2][4] - The ongoing Phase 2b clinical trial involves approximately 5,400 participants and compares Vaxart's oral vaccine to an FDA-approved mRNA vaccine [7][10] Collaboration Goals - The collaboration aims to leverage Vaxart's oral vaccine platform and Dynavax's commercial experience to address the long-term need for easily administered COVID-19 vaccine options [6][10] - Vaxart will retain operational and financial responsibility for the oral COVID-19 vaccine program through the completion of the Phase 2b trial [3][10] Strategic Importance - The agreement allows Dynavax to evaluate Phase 2b data before committing to late-stage development, aligning with its strategy to build a diversified vaccine portfolio [4][6] - Vaxart's proprietary VAAST™ platform is designed for room-temperature stable pill vaccines, potentially enhancing global distribution and compliance [4][8]