- (PLX AI) - Bavarian Nordic Receives Funding from the Danish Ministry of Health to Advance the Development of COVID-19 Booster Vaccine.
- • Bavarian Nordic gets upfront payment of DKK 80 million, eligible for additional DKK 720 million contingent upon reaching a number of predefined milestones including among others completion of the ongoing Phase 2 trial, Phase 3 development milestones and milestones related to upscaling of manufacturing for commercial production of the vaccine
- • The agreement is subject to final approval by the Finance Committee of the Danish Parliament
- • All payments are potentially subject to repayment, however only upon successful marketing authorization of the vaccine by the European Commission
- • Repayment may occur via supply of vaccines and royalty payments from the sale of the vaccine to other customers
- • Royalty payments are only triggered upon reaching a certain volume in sales
- • The Danish Ministry of Health could be entitled to an additional, capped royalty payment if the sales reach a certain threshold above the sales volume for the ordinary royalty payment
- • NOTE: Earlier today, Bavarian Nordic announced it would proceed to phase 2 trial with its Covid-19 booster vaccine
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