Novavax to Acquire Praha Vaccines a.a. | Financial Buzz

Novavax to Acquire Praha Vaccines a.a.

Novavax, Inc. (NASDAQ: NVAX) reported the acquisition of Praha Vaccines a.s.  The all cash transaction will total approximately USD 167 Million.  This acquisition also includes a biologics manufacturing facility with associated assets in Bohumil, Czech Republic.  The facility is anticipated to provide an annual capacity of over 1 billion doses of antigen using its nanoparticle technology.  “Manufacturing capacity is a critical component of our strategy to deliver a vaccine for the COVID-19 pandemic,” said Stanley C. Erck, President and Chief Executive Officer of Novavax. “This acquisition provides the vital assets required to produce more than 1 billion doses per year. In parallel with ramping up production at Bohumil, we will continue efforts to expand antigen capacity in the U.S. and Asia, and increase production of Matrix-M to match antigen capacity at multiple sites globally.”

“We believe Novavax and Praha reflect the ideal complement of capabilities and expertise to advance innovative vaccines that are vitally needed at this critical time,” said Cyrus Poonawalla, Chairman and Founder of the Cyrus Poonawalla Group. “We are confident that the technologies and employees are in good hands and look forward to continuing our collaborations with Novavax.”