Bavarian Nordic gains on J&J Ebola deal
Bavarian Nordic A/S (CSE:BAVA) gained DKK36.50 (24%) to DKK186.50 after the Crucell Holland B.V. unit of Johnson & Johnson (NYSE:JNJ) paid $25 million up front to license exclusive, worldwide rights to Ebola vaccine MVA-BN Filo. Bavarian Nordic is eligible for $20 million in milestones, plus royalties on commercial sales outside Africa. Concurrently, J&J Development Corp. will acquire a 6.4% stake in Bavarian Nordic for DKK251 million ($43 million) via a private placement of new shares.
J&J is responsible for further development and commercialization of MVA-BN Filo, a modified vaccinia Ankara (MVA) multivalent vaccine for the Zaire and Sudan strains of Ebola as well as Marburg virus. J&J and NIH have conducted preclinical tests of the combination Ebola vaccine, and J&J said it expects to begin a Phase I trial in January. MVA-BN Filo is a prime-boost Ebola virus vaccine comprising two vaccine components based on Crucell's AdVac technology and Bavarian Nordic's MVA-BN technology. ...