Novavax’s $167 Million Acquisition Of Praha Vaccines

Ropes & Gray represented Novavax in the transaction.

Novavax, Inc., a late-stage biotechnology company developing next-generation vaccines for serious infectious diseases, executed the acquisition of Praha Vaccines a.s., part of the Cyrus Poonawalla Group, in an all cash transaction of approximately $167 million. The acquisition includes a biologics manufacturing facility and associated assets in Bohumil, Czech Republic.

The facility is expected to provide an annual capacity of over 1 billion doses of antigen starting in 2021 for Novavax’ COVID-19 vaccine candidate. It consists of a stable, prefusion protein antigen made using its proprietary nanoparticle technology and adjuvant.

Ropes & Gray represented Novavax with a team led by mergers & acquisitions partner Tara Fisher (Boston; Picture), which included tax partner David Saltzman (Boston), private capital transactions partner Will Rosen (London), privacy & cybersecurity partner Rohan Massey (London), mergers & acquisitions partner Paul Kinsella (Boston), and real estate partner Jack Creedon (Boston).

Involved fees earner: Jack Creedon – Ropes & Gray; Tara Fisher – Ropes & Gray; Paul Kinsella – Ropes & Gray; Rohan Massey – Ropes & Gray; Will Rosen – Ropes & Gray; David Saltzman – Ropes & Gray;

Law Firms: Ropes & Gray;

Clients: Novavax;

Author: Ambrogio Visconti