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Novavax Secures $500M in Sanofi Vaccine Deal, Stock Surges 40%, Sanofi Takes 4.9% Stake

May 10, 2024, 09:50 AM

Novavax has entered into a significant partnership with Sanofi, involving a co-exclusive licensing agreement to co-commercialize a COVID-19 vaccine and develop novel COVID-19-Influenza combination vaccines. As part of the deal, Novavax will receive $500 million upfront and Sanofi will make a minority 4.9% equity investment in Novavax, valued at approximately $70 million. This deal has led to a 40% surge in Novavax's stock price.