Aimed at cutting operating costs while it advances NanoFlu and ResVax, Novavax (NVAX +26.9%) has agreed to sell certain manufacturing assets to Catalent Biologics’ (CTLT) Paragon Gene Therapy unit for $18M in cash.
Paragon will also assume the leases on two NVAX product development and manufacturing facilities and will absorb over 100 NVAX employees.
The transactions should close next month.
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