Novavax and the Serum Institute of India are joining forces to develop and market an experimental COVID-19 vaccine in a license deal the two parties signed on July 30, a filing by Novavax with the Securities and Exchange Commission showed.
Under the agreement, Serum Institute of India will have full rights for the potential NVX-CoV2373 drug in the country during the duration of the 15-year contract. The institute will have non-exclusive authority during the so-called "pandemic period" in all regions except those conisidered as upper-middle or high-income earning nations by the World Bank.
The American vaccine developer disclosed late Tuesday that its potential coronavirus treatment generated high levels of antibodies that can protect against the disease during late-phase clinical tests on 50 subjects. The biotech group said it could commence with a larger-scale third-phase test late next month.
As part of the supply deal with Novavax, the serum institute will acquire two components of the candidate drug – the antigen substance and Novavax's patented Matrix-M adjuvant. SII and Novavax will equally divide profits from the sale of the vaccines, including net agreed costs, the SEC filing noted.
The SII-Novavax contract was finalized a few days before the Maryland-based biotech giant publicized positive results from its first phase COVID-19 vaccine clinical tests. SII chief executive officer Adar Poonawala had told ET during a July 22 interview that they were in discussions with Novavax for a supply and licensing deal.
SII, which is based in Pune, India, has now inked two deals for the supply of potential COVID-19 drugs, the first being AstraZeneca-Oxford's vaccine candidate. Under this deal, the group has agreed to make up to 1 billion shots for low- and middle-income customers.
Oxford University's candidate drug, on the other hand, has been granted authorization to commence second and third-stage clincial tests in India.
According to The Indian Express, SII will utilize commercially rational measures to get government approval for the vaccine in nations under its licensed region. The deal with Novavax is valid for 15 years after the vaccine's first commercial sale in the listed territories.
