Sign up here for GlobalData's free bi-weekly Covid-19 report on the latest information your industry needs to know.Bavarian Nordic has signed a final agreement with AdaptVac to licence a capsid virus-like particle (cVLP) based SARS-CoV-2 subunit vaccine.
Under the agreement, Bavarian Nordic will make an upfront payment of €4m to AdaptVac, which is also eligible for future development and sales milestones and royalties.
Excluding royalties, the agreement is valued at up to €136m. The company signed an exclusive head of terms agreement for the Covid-19 vaccine in May this year.
With the final agreement, Bavarian Nordic gains the global commercialisation rights to the potential vaccine. AdaptVac CEO Wian de Jongh said: “This represents a big.