Janssen pulls out of deal with Bavarian Nordic
Denmark-based vaccine developer Bavarian Nordic (OMX: BAVA) saw its share drop more than 9% to 120.55 kroner by close of trading today on news that Johnson & Johnson (NYSE: JNJ) subsidiary Janssen had terminated certain collaboration and license agreements.
The accord was aimed at leveraging Bavarian Nordic’s MVA-BN (Modified Vaccinia Ankara - Bavarian Nordic) technology to develop potential vaccines against the hepatitis B virus and human papillomaviruses (HPV).
In its press release, Janssen said it remains committed to its strong collaboration with Bavarian Nordic in the quest to prevent and cure infectious diseases – with collaborations in HIV and Ebola still ongoing.
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