ExpreS2ion’s joint venture AdaptVac signs Final License Agreement with Bavarian Nordic on COVID-19 Vaccine
Hørsholm, Denmark, July 22, 2020 – ExpreS[2]ion Biotech Holding AB (“ExpreS[2]ion”) hereby announces that its joint venture AdaptVac has entered into a final license agreement with Bavarian Nordic A/S (“Bavarian Nordic”), to license the proprietary capsid virus like particle (cVLP) based SARS-CoV-2 subunit vaccine. Under the terms of the agreement, Bavarian Nordic will make an upfront payment of EUR 4 million to AdaptVac, in addition to potential future development as well as sales milestones and single to double-digit percentage-tiered royalties. The total deal value, excluding royalties is