Novavax Stops Flu Vaccine Collaboration

7 February 2010 (Last Updated February 7th, 2010 18:30)

Novavax has announced that it has decided to discontinue a previously announced collaboration with ROVI Pharmaceuticals to develop Novavax's virus-like particle (VLP)-based influenza vaccine in Spain. This decision is due to the companies' inability to agree on acceptable collaboration

Novavax has announced that it has decided to discontinue a previously announced collaboration with ROVI Pharmaceuticals to develop Novavax's virus-like particle (VLP)-based influenza vaccine in Spain.

This decision is due to the companies' inability to agree on acceptable collaboration terms and to obtain the necessary funding commitments for the programme.

Novavax is now free to seek a new partner for its pandemic and seasonal influenza vaccine development efforts in Europe.

Novavax president and chief executive officer Dr Rahul Singhvi said that the companies could not reach an agreement.

"We appreciate the Spanish government's interest in working with us to develop a VLP-based flu vaccine solution for Spain and will continue to seek partners for in-border development of our influenza vaccines throughout Europe," Singhvi said.

"In the meantime, we are continuing to make great progress with the development of our vaccines in Mexico, India and the US."