J&J's Janssen Pays up to $879M for Bavarian Nordic Vaccine

Jul 31, 2017

Bavarian Nordic announced a worldwide license and collaboration agreement with Janssen Pharmaceuticals Inc., part of Johnson & Johnson. This new collaboration grants Janssen the exclusive rights to Bavarian Nordic’s MVA-BN technology for two additional programs, targeting vaccines against hepatitis B virus (HBV) and the human immunodeficiency virus (HIV-1).

Under the terms of the agreement, Janssen will provide an upfront payment of $10 million, and Johnson & Johnson Innovation – JJDC Inc. will provide $33 million in an equity investment by subscription of new Bavarian Nordic shares. Additionally, Bavarian Nordic will be eligible to receive milestone payments based upon the achievement of specified development, regulatory and sales milestones up to a total of $836 million, in addition to tiered royalties on future sales. platform. The transaction is expected to close during third quarter of 2017.

With the addition of programs targeting HBV and HIV-1, the companies are now collaborating on four product development programs combining Bavarian Nordic’s MVA-BN technology with Janssen’s AdVac technology.