Novavax terminates vaccine deal in Spain

Novavax Inc. (NASDAQ:NVAX) terminated an agreement to license its recombinant virus-like particle (VLP) vaccine technology to Laboratorios Farmaceuticos Rovi S.A. (Madrid:ROVI). Novavax said the decision was due to the companies' inability to agree on acceptable terms and to obtain the necessary funding commitments. Novavax will continue to seek partners for its vaccine technology in Europe (See BioCentury Extra, Tuesday, June 30, 2009).

Separately, Novavax reported additional data from a Phase IIa trial of its trivalent VLP vaccine against the H3N2, H1N1 and B strains of influenza virus. Single injections of vaccine induced a four-fold increase in anti- neuraminidase activity against the H3N2 and B strains of influenza in 50-73% of subjects vs. 5% of subjects receiving Fluzone trivalent inactivated vaccine from Sanofi Pasteur S.A., the vaccines division of sanofi-aventis Group (Euronext:SAN; NYSE:SNY). The double-blind, placebo-controlled, U.S. trial enrolled 241 healthy volunteers. Data were presented at the BIO CEO Conference in New York. ...