VaxInnate has entered into a licensing contract with CJ
CheilJedang of South Korea to manufacture, develop and commercialize
VaxInnate’s recombinant seasonal and pandemic flu vaccines.
Financial terms of the
agreement include an upfront fee, clinical and regulatory milestone payments,
and royalties on sales.
Under the terms of the
agreement, CJ CheilJedang is responsible for funding clinical development and
licensure of the vaccine in South Korea and ten other Southeast Asian
countries.
VaxInnate will transfer the
technology required to develop and manufacture the vaccines, the company said.
VaxInnate president and CEO
Thomas Hofstaetter said the partnership with CJ Pharma help to meet the flu
vaccine needs of South Korea and parts of Southeast Asia.
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