Novavax Completes Sale of Biologics Manufacturing Campus in the Czech Republic; Transaction Valued at $200 Million

Novavax, Inc. (NASDAQ:NVAX) announced today the completion of the sale of its biologics manufacturing campus situated in Bohumil, Jevany, Czech Republic to Novo Nordisk Production Czech s.r.o. The transaction, valued at $200 million, was carried out by Novavax CZ a.s., an indirect wholly owned subsidiary of Novavax Inc.

The sale, finalized on December 30, 2024, was executed in accordance with the terms of an asset purchase agreement dated December 3, 2024, involving Novavax CZ a.s., Novavax Inc., Novo Nordisk Production Czech s.r.o., and Novo Nordisk A/S. The assets transferred in the transaction included properties, moveable assets, and equipment within the manufacturing facility, alongside associated contracts and employees.

As part of the agreement, Novavax Inc. received an initial cash payment of $180 million on the closing date, net of a $10 million payment made in September 2024 and an additional $10 million held in escrow. The escrow amount is set to be released to the seller twelve months post-closing, subject to any potential claims under the Asset Purchase Agreement.

Moreover, Novavax Inc. was reimbursed approximately $2.6 million for expenses related to the continued operation and maintenance of the assets, contracts, and employees between December 3, 2024, and the completion of the sale.

It should be noted that the above summary of the Asset Purchase Agreement is not exhaustive and is subject to the complete terms outlined in the agreement document. The full agreement will be filed with the Securities and Exchange Commission as an exhibit to Novavax Inc.’s Annual Report on Form 10-K for the year ending December 31, 2024.

Mark J. Casey, Executive Vice President, Chief Legal Officer, and Corporate Secretary of Novavax, Inc., signed the report as per the requirements of the Securities Exchange Act of 1934.

This strategic move marks a significant development for Novavax as it repositions its assets to align with its long-term growth objectives in the biologics sector.

Please note that this information was sourced from the recent 8-K SEC Filing submitted by Novavax Inc.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Novavax’s 8K filing here.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.