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Biotechnology Business
Bavarian Nordic Receives USD 25 Million Milestone Payment After Submission of Important IMVAMUNE(R) Data to the U.S. Health Authorities
December 2nd, 2008
Bavarian Nordic has invoiced the U.S. authorities for another milestone payment of USD 25 million as allowed under the RFP-3 contract to manufacture and deliver 20 million doses of the company's IMVAMUNE(R) smallpox vaccine. This milestone payment was triggered by the recent submission of a clinical safety report from a large Phase II study with IMVAMUNE(R) in HIV infected subjects, which is part of the regulatory package that will be used to potentially support the use of IMVAMUNE(R) in a declared emergency. With this, Bavarian Nordic is an important step closer to fulfilling the conditions for initiating delivery of IMVAMUNE(R) in 2009. The income will be recognised...
Source: TB & Outbreaks Week (2008-12-02)
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