Bavarian Nordic valuation upgraded thanks to deals

16 April 2015

Danish biotech company Bavarian Nordic (Nasdaq: BAVA), which focuses on vaccines and novel cancer immunotherapies, has greatly benefited from deals with US pharma major Bristol-Myers Squibb (NYSE: BMY) and Johnson & Johnson (NYSE: JNJ).

In March, the company signed a deal with Bristol-Myers Squibb which has paid $60 million for an option to license exclusive rights to prostate cancer vaccine Prostvac and could pay a further $915 million in milestones.

In addition, Bavarian Nordic signed a $187 million deal with J&J for MVA-BN Filovirus for Ebola (both Zaire and Sudan strains) and Marburg viruses included a $43 million equity investment, in addition to an exclusive licensing and supply agreement. Bavarian Nordic has received a $25 million upfront payment and is eligible for a further $20 million of development and regulatory milestones in addition to undisclosed royalties on ex-Africa sales.

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