North American Vaccine, Pasteur Merieux Serums & Vaccins, Connaught Laboratories Ltd. deal

NVX and Pasteur Merieux (Lyon) signed a memorandum of understanding under which Pasteur Merieux, its Connaught subsidiary (Toronto), and NVX will develop NVX's conjugate vaccine for meningitis B.

As proposed, NVX (Beltsville, Md.) would receive undisclosed upfront fees, R&D payments and milestones that could total $50 million. Pasteur Merieux-Connaught would be responsible for all costs associated with the clinical development of the vaccine through Phase II trials. NVX will receive royalties. The parties each will hold co-exclusive worldwide rights to manufacture and sell the vaccine. ...