Bavarian Nordic reaches lucrative milestones in US vaccine contract  

2007.12.28
The Danish biotechnology company invoices US health authorities another USD 25m milestone payment from a major contract to supply its smallpox vaccine
Having received an order for 20 million doses of Imvamune vaccine from the US health authorities earlier this year, Danish biotechnology company Bavarian Nordic has invoiced another USD 25m milestone payment as allowed under the RFP-3 contract for 20 million doses of Imvamune vaccine. The news was announced in a press release from the company.

Bavarian Nordic has already received an upfront payment of USD 50m and a milestone payment of USD 25m, thus bringing the total this year to USD 100m for fulfilling significant contract milestones. In 2008 the company expects to receive yet another milestone payment of USD 25m, all payments being covered by forward rate agreements.

”Receiving another milestone payment from the RFP-3 contract concludes a successful year for Bavarian Nordic," says Bavarian Nordic's CEO Anders Hedegaard. "We have fulfilled the ambitious goals set for 2007 in the contract with the US Department of Health and Human Services and we find this very satisfactory and encouraging for our ongoing collaboration.“
 
Headquartered in Denmark, Bavarian Nordic develops, produces and markets innovative vaccines to prevent and treat infectious diseases such as smallpox, HIV and cancer. The company employs over 200 people and has operations in Germany, the US and Singapore. Bavarian Nordic has state-of-the-art production facilities in Denmark, and an ongoing partnership with the German vaccine producer, Impfstoffwerk Dessau-Tornau.
 
Link > Bavarian Nordic 

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