Novavax receives $8 million cash payment from Esprit for Estrasorb

By Angela McDaniels

Seattle, Dec. 23 - Novavax Inc. said it has received an $8 million cash payment from Esprit Pharma Inc. This is the second payment made under a licensing agreement for the exclusive marketing rights to Estrasorb in North America.

Novavax has now received a total of $10 million from the agreement and will receive another $2.5 million from Esprit Pharma upon the first anniversary of the agreement.

The company said cash available for use in its 2006 business plan is now roughly $30 million.

Novavax is a based in Malvern, Pa., and develops products using its proprietary drug delivery and biological technologies.

Esprit is based in New Brunswick, N.J., and develops genito-urinary and women's health products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.