Novavax Acquires Praha Vaccines (BBJ Story)
Gaithersburg biotech Novavax Inc. said Wednesday it has acquired Praha Vaccines, including its manufacturing facility in the Czech Republic, in a bid meet the production goals for its coronavirus vaccine candidate.
Novavax said the all-cash purchase totals $167 million and includes a 150,00-square-foot vaccine and biologics manufacturing facility, related infrastructure and about 150 employees. Praha was previously a unit of India-based Cyrus Poonawalla Group. The acquisition follows news Monday that Novavax has started the first human study of its coronavirus vaccine candidate, called NVX CoV2373, in two Australian cities. It is one of 10 experimental coronavirus vaccines currently being tested on humans, according to the World Health Organization.