Sanofi announces the conclusion of a co-exclusive licensing agreement with Novavax, for the co-commercialization of a Covid-19 vaccine and the development of combined influenza-Covid-19 vaccines, as well as the acquisition of a minority stake of less than 5% in Novavax.

Novavax will receive an upfront payment of $500 million, rising to $700 million depending on the achievement of various milestones, and tiered double-digit royalties on Sanofi sales of Covid-19 and influenza-Covid-19 vaccines.

Novavax will also be entitled to payments of up to $200 million, as well as single-digit royalties for each additional Sanofi vaccine developed under non-exclusive license with Novavax's Matrix-M adjuvant technology.

'Outside of this collaboration, each party will be able to develop and commercialize, at its own expense, its own influenza and Covid-19 vaccines, as well as its own adjuvanted products', says the French healthcare group.

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