Novavax Announces Entering into a License Agreement with Pfizer

Core Viewpoint - Novavax has entered into a license agreement with Pfizer for the use of its Matrix-M adjuvant, allowing Pfizer to utilize this technology in the development of products for up to two disease areas [1][4]. Group 1: License Agreement Details - The agreement grants Pfizer a non-exclusive license for Matrix-M, which is expected to enhance Pfizer's product development capabilities [1][4]. - Novavax will receive an upfront payment of $30 million and has the potential to earn up to $500 million in development and sales milestones [4][5]. - In addition to milestone payments, Novavax is eligible for tiered high mid-single digit percentage royalties on sales of any Pfizer product that incorporates Matrix-M [5]. Group 2: Responsibilities and Future Prospects - Pfizer will be solely responsible for the development and commercialization of its products utilizing Matrix-M, while Novavax will supply the Matrix-M adjuvant [5]. - The agreement is part of Novavax's broader strategy to optimize existing partnerships and expand its technology platform through research and development innovation [2].