Global law firm Reed Smith and leading Danish firm, Kromann Reumert, advised Danish listed company, Bavarian Nordic, on a licence and supply agreement for its MVA-BN® Ebola Vaccine with Crucell Holland B.V. (one of the Janssen Pharmaceuticals companies of Johnson & Johnson). Under the agreement, Bavarian Nordic will grant Janssen an exclusive licence for its multivalent MVA-BN Filovirus vaccine. Preclinical studies involving Bavarian Nordic’s vaccine and Janssen’s AdVac® technology recently demonstrated complete protection against Ebola. The total potential agreement value (including upfront payments, equity investment, milestones and the supply contract) is in excess of U.S.$187 million.
Bavarian Nordic aims to manufacture more than one million doses of the vaccine for 2015 clinic trials and emergency use in the current Ebola outbreak in West Africa. Janssen is working closely with authorities as part of its prioritised efforts to make the vaccines available for emergency use to help contain the current outbreak. Reed Smith and Kromann Reumert worked with the deal team to get the transaction documents signed within a tight deadline to enable Janssen to progress these efforts as quickly as possible.
Reed Smith partner, John Wilkinson, advised on the licensing agreement. Partners Michael Pitzner-Bruun and Marianne Philip of Kromann Reumert advised on the supply agreement and the transaction. This transaction follows the recent formation of Reed Smith's cross-practice Global Ebola Task Force.
Reed Smith life sciences partner, John Wilkinson, commented:
“There is an increasing threat to global health from Ebola and it is imperative that ways are found to counter the disease. Time is of the essence and we are delighted to have played a part in this effort by advising long standing client Bavarian Nordic on this ground-breaking deal to help contain the Ebola outbreak. Together with Kromann Reumert we worked around the clock to complete the deal and enable Bavarian Nordic and Jansen to begin developing the vaccine as soon as possible.”
Bavarian Nordic General Counsel, Morten Rasumussen, commented:
“We have worked with Reed Smith for several years on a range of work and their expertise in the life sciences sector was an important factor in helping us close this deal within a very short timeframe.”
ENDS
Note to Editors:
About Reed Smith life sciences practice
The Reed Smith life sciences practice in London consists of a group of specialist lawyers dedicated solely to the sector. The full-service practice advises on: transactions (including M&A, collaborations, joint ventures, licensing, fund raisings and due diligence); regulatory; product liability; dispute resolution; intellectual property; employment and tax.
About the Reed Smith Global Ebola Task Force
The Global Ebola Task Force comprises lawyers from many of the firm’s industry and practice groups, including labour & employment, insurance recovery, life sciences health industry, shipping, aviation, international trade & national security, and data privacy, security & management, as well as lawyers on Reed Smith’s longstanding Africa business team, which represents global companies on transactions throughout the continent. It is led by Patrick E. Bradley, a partner in the firm’s Princeton, New Jersey office. His practice focuses on aviation and product liability litigation.
About Reed Smith
Reed Smith is a global relationship law firm, with more than 1,800 lawyers in 25 offices throughout Europe, the Middle East, Asia and the United States.
For further information, please visit www.reedsmith.com or contact Annabelle Price (branding & communications executive EME) on +44 (0)20 3116 3787.
About Bavarian Nordic
Please see www.bavarian-nordic.com.