Novavax said that the decision was taken due to the companies’ inability to agree on acceptable terms of the proposed collaboration and to obtain the necessary funding commitments for the program.
The company will now look for a new partner for future development of the seasonal vaccine.
Rahul Singhvi, president and chief executive officer of Novavax, said that the company is disappointed that it could not reach agreement with ROVI, but on contrary, it appreciates the Spanish government’s interest on development of the vaccine for Spain.
Mr. Singhvi added: “In the meantime, we are continuing to make great progress with the development of our vaccines in Mexico, India and the US. In Mexico, we are currently awaiting results from our H1N1 influenza vaccine clinical study. In India, we expect to open a VLP vaccine production facility in March.
“And in the US, we are awaiting results of our seasonal influenza vaccine study in the elderly. We also anticipate receiving an ultimate decision from the US Department of Health and Human Services’ Biomedical Advanced Research and Development Authority (BARDA) regarding funding to develop recombinant influenza vaccines and look forward to launching clinical development of our vaccine against respiratory syncytial virus (RSV) later this year.”