DURHAM, NC – Drug giant Novartis has agreed to license a Phase I vaccine for cytomegalovirus in a deal that includes a $20 million up front payment and the possibility of future equity investments if the company meets clinical milestones.

This agreement adds to Novartis’ early stage pipeline of novel vaccines, which focuses on significant unmet needs for the prevention of fatal diseases such as meningococcal infections and other hospital and community acquired infections.

AlphaVax is responsible for finalization of phase I clinical trials, and will provide the clinical trial material for the phase II trials. Novartis will be responsible for the development of the CMV program for phase II clinical trials onwards as well as for registration and world-wide commercialization.

Novartis has an option to make an equity investment at the end of phase II clinical trials for 4 million shares. Under the terms of the agreement AlphaVax will be eligible for milestones and royalties.

On the Web: www.alhpavax.com

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