Ropes & Gray Represents Novavax in Acquisition of Czech Manufacturing Facility for COVID-19 Vaccine Candidate
Ropes & Gray represented Novavax, Inc., a late-stage biotechnology company developing next-generation vaccines for serious infectious diseases, in 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. The transaction was announced on May 27.
The team was led by mergers & acquisitions partner Tara Fisher (Boston) and 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).