OR WAIT 15 SECS
Novavax will sell two Maryland-based vaccine development and manufacturing facilities for Catalent’s expanding gene therapy footprint.
Catalent Biologics continued its investment in the gene therapy arena, building on the May 2019 purchase of Paragon Bioservices with a June 27, 2019 announcement that the company’s Paragon Gene Therapy unit will purchase the vaccine manufacturing equipment and facility assets and assume the leases of two Novavax product development and manufacturing facilities in Gaithersburg, MD.
More than 100 Novavax manufacturing and quality employees will transfer to Paragon. In addition, the companies announced an agreement in which Paragon will provide process development and manufacturing services for some Novavax programs. The transaction is expected to close in July 2019, according to a June 27, 2019 press statement.
In the press statement, Novavax noted that the approximately $18 million sale will enable the company to focus on advancing two products, NanoFlu and ResVax, through clinical development and regulatory review.
“This alliance is a true win-win-win for Paragon, Novavax and our employees,” said Stanley C. Erck, president and chief executive officer of Novavax in the press statement. “This mutually beneficial transaction allows Paragon to quickly support the growth of its gene therapy development and manufacturing business and simultaneously offers Novavax a strategic and cost-effective approach to addressing its manufacturing needs into the future.”
“Novavax’ advanced GMP development and manufacturing capabilities and, even more importantly, its very strong team of experts, will help accelerate our gene therapy manufacturing strategy and rapid growth,” said Pete Buzy, president of Paragon’s gene therapy business in the press statement. “We welcome the new Novavax employees to the Paragon family and look forward to working closely together in this strategic collaboration to advance Novavax’ innovative recombinant vaccines platform and expand our ability to serve the burgeoning gene and cell therapy market.”