Novavax Inc. announced that it has entered into a License and Option Agreement with Pfizer Inc. Under the agreement, Pfizer receives a non-exclusive, worldwide license to use Novavax’s Matrix-M adjuvant technology for research, development, and commercialization of vaccine products in up to two infectious disease fields. Novavax will receive an upfront payment of $30 million in the first quarter of 2026 and is eligible for up to $500 million in additional milestone payments, including up to $70 million in development milestones and up to $180 million in sales milestones for each field. Novavax will also receive tiered, high mid-single digit royalties on net sales of products developed under the agreement.
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