Resources for Food and Drug Administration (FDA)

Avant Gets $11.5M Payday with FDA OK of Rotarix

www.bioworld.com

Avant Immunotherapeutics Inc. will see an additional $11.5 million in milestone payments for the rotavirus vaccine Rotarix, now that it has been FDA-approved.

The Needham, Mass.-based company licensed rights to Rotarix to partner GlaxoSmithKline Plc, and stands to receive $10 million upon U.S. launch, said Una Ryan, Avant CEO. The company hopes to have Rotarix launched in the U.S. in time for the fall rotavirus season, Ryan told BioWorld Today.

Another $1.5 million will come from GSK soon, Ryan said. Half of that amount, though, will have to be paid to Paul Royalty Fund, the company handling the payments, she said.

But the royalty payments sold to Paul Royalty are capped, so Avant will receive the lion's share of the remaining royalties, more than 90 percent, Ryan said.

Avant already has received $50 million in payments - $40 million of which came with the launch of Rotarix in Europe and $10 million at signing with Paul Royalty, Ryan said.

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