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Pharmaceutical industry

Avant Immunotherapeutics Receives $4 Million Milestone Payment from GlaxoSmithKline for Rotarix Approval in Europe

Strategic Insights

— 1 min read

Avant Immunotherapeutics (AVAN) has achieved a significant milestone with the approval of Rotarix, a rotavirus vaccine, by the European Commission. This approval has led to a $4 million milestone payment from GlaxoSmithKline (GSK), marking a key event in the worldwide commercialization of Rotarix. According to Una S. Ryan, PhD, Avant's president and CEO, the approval is a substantial step towards making the vaccine available to children in Europe for the prevention of gastroenteritis caused by rotavirus. The approval also triggers a $40 million payment to Avant through its transaction with Paul Royalty Fund [PRF].

Key Takeaways:

  • Avant Immunotherapeutics has received a $4 million milestone payment from GlaxoSmithKline for the approval of Rotarix in the European Union.
  • Rotarix is the first rotavirus vaccine available to children in Europe for the prevention of gastroenteritis caused by rotavirus.
  • The vaccine was licensed in 1997 by Avant Immunotherapeutics to GlaxoSmithKline for worldwide commercialization.
  • Roatarix is an oral, two-dose, live attenuated vaccine against rotavirus disease in infants, developed at Cincinnati Children's Hospital Medical Center.
  • The vaccine has been filed in over 75 countries, with additional 33 licenses granted worldwide (16 Latin American countries, Philippines, and Singapore).
  • Rotarix is not approved in the US, but GSK is in late-stage development discussions with the FDA for licensure.
  • The vaccine has been included in the national official vaccination calendars of Brazil, Panama, and Venezuela, and will be available free at public health clinics.

Statistics:

  • $4 million milestone payment received by Avant for Rotarix approval in Europe
  • $40 million payment to be received by Avant through its transaction with Paul Royalty Fund [PRF]
  • 1997: Year Rotarix was licensed to GlaxoSmithKline
  • Over 75 countries: Number of countries where Rotarix has been filed
  • 33: Number of additional licenses granted worldwide (16 Latin American countries, Philippines, and Singapore)
  • 2-dose schedule: Age at which the vaccine is given (at 6 weeks of age)

Sources:

  • Health & Medicine Week
  • Avant Immunotherapeutics
  • GlaxoSmithKline
  • Cincinnati Children's Hospital Medical Center
  • Paul Royalty Fund [PRF]

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