VXRT - Vaxart inks $130M Vapendavir license agreement with Altesa Biosciences

Vaxart (VXRT) has signed an exclusive worldwide licensing agreement with Altesa Biosciences to develop and commercialize patented formulation of Vapendavir in a deal worth as much as $130M.Share up more than 5% premarket.Vaxart is eligible to receive up to $130M in development and commercial milestones, as well as tiered royalties ranging from the low-single to low-double digits on product sales for multiple indications.Under the terms of the agreement, Altesa is granted the worldwide, exclusive right to develop, manufacture, and commercialize Vaxart’s proprietary formulation of Vapendavir.Previously, Vapendavir has shown promise against a broad spectrum of enteroviruses and could combat respiratory infections produced by the human rhinovirus ((HRV)), the company said.

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Vaxart inks $130M Vapendavir license agreement with Altesa Biosciences