Rovi to use Novavax technology for flu virus Print E-mail
By Staff and Wire Reports   
Tuesday, 30 June 2009 16:31 - Rovi to use Novavax technology for flu virus

MADRID, June 30 (Reuters) - Spanish pharmaceutical company  has reached an agreement with Novavax Inc. (NASDAQ:NVAX) to use the U.S. company's technology to produce pandemic and seasonal flu vaccines, Rovi said on Tuesday.

Novavax's "Virus Like Particle (VLP)" technology is currently in clinical trials, Rovi said in a statement after signing an agreement with the Spanish government and the local authorities to build a vaccine manufacturing plant in Granada, Andalucia.

The Granada plant is due to come on stream in 2012.

Novavax, a development-stage company with no marketed products, is in midstage testing in the United States of a vaccine against the H1N1 virus.

Rovi will have exclusive licences to sell the vaccines in Spain and Portugal, plus non-exclusive licences in Europe, Latina America and Africa.

In addition to the licensing agreement, Rovi will make a $3 million equity investment in Novavax and will provide additional development funding if needed.

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