Avant Immunotherapeutics
Avant receives $4M milestone payment from GlaxoSmithKline for rotavirus vaccine
Published in Law and Health Weekly, April 8th, 2006
This payment marks the approval from the European Commission for Rotarix in the European Union (E.U.). Rotarix will be the first rotavirus vaccine available to children in Europe for the prevention of gastroenteritis caused by rotavirus.
"We are very gratified to receive this milestone payment, which marks a key event in the worldwide commercialization of Rotarix," said Una S. Ryan, PhD, Avant president and CEO. "This approval also leads to a substantial payment of $40 million to Avant through its transaction with Paul Royalty Fund [PRF]."
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