Novavax, Inc., an international leader in protein-based vaccines utilizing its Matrix-M adjuvant, has declared that it has secured a definitive transaction to divest its Bohumil, Czech Republic production site to Novo Nordisk for $200 million. The deal encompasses the transfer of assets such as a cutting-edge, 150,000-square foot recombinant protein production facility, support edifices, the current workforce, and all necessary infrastructure.
This agreement grants Novavax substantial, non-dilutive capital, fortifying the Company’s growth blueprint centered on maximizing the benefits of its early- and late-stage projects using its effective technology platform, which incorporates Matrix-M adjuvant and nanoparticle protein-based innovations. With a $190 million cash infusion anticipated in 2024 and an additional $10 million in 2025, Novavax predicts the sale will contribute to annual operational cost savings of about $80 million.
“Opting to sell the Czech Republic manufacturing site aligns with our previously declared objective of transforming Novavax into a nimbler and more adaptive organization, concentrating on collaborations for our pipeline assets and technology,” stated John C. Jacobs, president and CEO of Novavax. “We express our gratitude to our steadfast colleagues in the Czech Republic, who have significantly contributed to Novavax’s purpose of using our technology to meet unaddressed needs. We look forward to partnering with Novo Nordisk to facilitate a seamless handover.”
Upon the conclusion of the agreement, expected by December 30, 2024, Novo Nordisk will assume full stewardship of the manufacturing site.
Novavax, Inc. commits to enhancing global health by pinpointing, evolving, and bringing to market cutting-edge vaccines designed to guard against critical infectious diseases. Situated in Gaithersburg, Maryland, US, Novavax, an internationally operating firm, delivers a unique vaccine framework employing a recombinant protein methodology, avant-garde nanoparticle technology, and Novavax’s proprietary Matrix-M adjuvant for amplified immune responses.