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news.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.
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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.