Gaithersburg, Maryland-based Novavax, whose experimental COVID-19 vaccine is now in limited human trials, has acquired Praha Vaccines A.S., gaining its biologics manufacturing facility in Bohumil, Czech Republic, for $167 million.
Novavax said the facility could provide an annual capacity of more than 1 billion doses of its NVX-CoV2372 vaccine beginning next year.
Novavax鈥檚 vaccine candidate showed promising results in animal studies this spring. It is currently testing the vaccine with 130 humans in Australia and expects to report results in July.
If promising, Phase 2 trials will be conducted in multiple countries, including the United States.
鈥淢anufacturing capacity is a critical component of our strategy to deliver a vaccine for the COVID-19 pandemic,鈥� said Novavax chief executive Stanley Erck. 鈥淭his acquisition provides the vital assets required to produce more than 1 billion doses per year.鈥�
As part of the acquisition, 150 Praha Vaccines employees with significant experience in vaccine manufacturing are now on the Novavax payroll.
Novavax is funding the acquisition with its most recent round of funding for its vaccine development from nonprofit the Coalition of Epidemic Preparedness Innovations.
Novavax acquired the Praha operations from parent company Cyrus Poonawalla Group in India.
Novavax has also partnered with Gaithersburg-based biotech Emergent BioSolutions to manufacture its vaccine.
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