Nykode Therapeutics in Vaccine Deal With Regeneron Worth Up to $925 Million

By Dominic Chopping

Norwegian biopharmaceutical company Nykode Therapeutics, which Tuesday changed its name from Vaccibody AS, said it has signed a deal with Regeneron Pharmaceuticals Inc. worth up to $925 million, plus royalties for the discovery, development and commercialization of new vaccines for cancer and infectious diseases.

The agreement includes five programs, three within cancer and two within infectious diseases and each program may include several vaccine candidates, all of which being eligible for milestone and royalty payments, it said.

Nykode Therapeutics said it will be responsible for vaccine generation and characterization, as well as product supply through the end of Phase 1 trials, while Regeneron will be responsible for antigen identification, preclinical and clinical development, manufacturing and commercialization.

The company will receive an upfront payment of $30 million and an equity investment of $20 million at a 20% premium to Nykode Therapeutics' 30-day volume weighted average price.

In addition, it will potentially be eligible to receive more than $875 million in additional payments based on potential future development and commercial achievements, plus royalties.

Regeneron will cover costs for research, as well as potential clinical, regulatory, manufacturing and commercialization activities, it added.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

11-23-21 0240ET