Novavax, Inc. has announced the receipt of a $125 million milestone payment following a development milestone achieved by its partner, Sanofi Pasteur Inc.
According to the company’s October 29, 2026, Form 8-K filing, the payment was triggered when Sanofi dosed the fifth patient in its Phase 3 clinical trial. This trial is evaluating a combination vaccine in the European Union that pairs Sanofi’s high-dose influenza vaccine with Novavax’s COVID-19 vaccine, Nuvaxovid.
Novavax anticipates that the payment will be received in the first quarter of 2027. The company stated that this payment is part of the milestone structure outlined in the Collaboration and License Agreement between the two entities.
Under the terms of the agreement, Novavax is eligible for additional financial benefits. These include a $75 million milestone payment upon the completion of a manufacturing technology transfer, anticipated in mid-2027, and a separate $225 million milestone payment contingent upon a U.S. launch of the combination vaccine. The agreement also grants Novavax royalties on sales of the products and on any future combination products developed by Sanofi using Novavax’s Matrix-M adjuvant.
