In a terse statement, Novavax said today that it's halted negotiations in its pursuit of the previously announced collaboration with ROVI Pharmaceuticals to develop Novavax's virus-like-particle (VLP)-based vaccines against influenza in Spain. Novavax said the two companies are unable to agree on acceptable terms of the proposed collaboration and to obtain the necessary funding commitments for the program.
Novavax and ROVI announced in June a deal through which ROVI would license Novavax's technology for use in Spain. And Spanish officials committed €60 million to develop vaccines and establish the country's first vaccine plant, along with the funding needed to get the vaccines through the regulatory process. Apparently, that money hasn't materialized. Novavax says it's now on the hunt for a new partner for its pandemic and seasonal influenza vaccine efforts in Europe.
- check out the release from Novavax