Bavarian Nordic A/S ( OTCPK:BVNRY ) ( OTCPK:BVNKF ) announced a new agreement with the U.S. Department of Defense’s Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense, for the advanced development of MVA-BN WEV, a prophylactic vaccine candidate against Western, Eastern and Venezuelan equine encephalitis virus, which can cause a rare, but potentially deadly mosquito-borne illness in humans.
The new agreement has a total value up to $83M, of which the secured base agreement of $55M covers the costs for a clinical Phase 2 dose finding study of MVA-BN WEV, further non-clinical studies, process development and manufacturing of clinical trial material.
Furthermore, the agreement includes options valued at $28M to support Phase 3 preparations.
The base agreement will run from 2023 through 2026 with the majority of revenue from the agreement being recognized in that timeframe.
For further details see:
Bavarian Nordic enters $83M agreement with the U.S. DOD to develop Equine Encephalitis Virus vaccine