THIS EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST. REDACTED MATERIAL IS MARKED WITH [**********] AND HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. Amendment No. 1 To the LICENSE AGREEMENT
Exhibit
10.49
THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A
CONFIDENTIAL
TREATMENT REQUEST. REDACTED MATERIAL IS
MARKED
WITH [**********] AND HAS BEEN FILED SEPARATELY WITH
THE
SECURITIES AND EXCHANGE COMMISSION.
Amendment
No. 1
To
the
This Amendment is effective as of March
17, 2010 and amends the License Agreement dated as of July 5, 2007 (the
“Agreement”), by and between Wyeth Holdings Corporation, having a place of
business at Five Xxxxxxx Xxxxx, Xxxxxxx, Xxx Xxxxxx 00000 (“Wyeth”), and
Novavax, Inc., having its principal place of business at 0000 Xxxxxxx Xxxxxx
Xxxxx, Xxxxxxxxx, Xxxxxxxx 00000 (“Novavax”).
Novavax and Wyeth desire to amend the
Agreement as set forth below in connection with the initiation in October 2009
by Novavax of a clinical study of its virus-like particle H1N1 influenza vaccine
in Mexico in collaboration with Avimex Laboratories and GE Healthcare (the
Product used in such study is referred to as the “H1N1
Product”). Capitalized terms used but not defined herein shall have
the meanings set forth in the Agreement.
Each of Wyeth and Novavax hereby agrees
as follows:
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1.
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The
H1N1 Product is a Product for Pandemic Flu for purposes of the
Agreement. Notwithstanding the provisions of Section 3.1.4 of
the Agreement to the contrary but subject to paragraphs 2 and 3 below, no
milestone payment shall be due for receipt of [**********] of the H1N1
Product in Mexico for H1N1 influenza, and the milestone payment due within
thirty (30) days after [**********] of the H1N1 Product in Mexico for H1N1
influenza shall be [**********].
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2.
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In
the event that the H1N1 Product receives [**********] for H1N1 influenza
in Mexico (the “Mexico Trigger Event”), in addition to the royalties
payable pursuant to Section 3.1.6 of the Agreement, Novavax shall pay or
cause to be paid to Wyeth, pursuant to Section 3.4 of the Agreement, a
separate royalty equal to [**********] of all [**********] of the H1N1
Product in Mexico for H1N1 influenza by Novavax or any of its Affiliates
or permitted sublicensees (such additional, separate royalty payments are
referred to as the “Additional Royalties”) until such time as Novavax and
its Affiliates and permitted sublicensees have paid to Wyeth Additional
Royalties in the aggregate amount of [**********], subject to paragraph 3
below.
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3.
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In
the event that the H1N1 Product receives [**********] for H1N1 influenza
in any jurisdiction other than Mexico at any time after the Mexico Trigger
Event when Novavax has paid to Wyeth Additional Royalties pursuant to
paragraph 2 above in an aggregate amount less than [**********], Novavax
shall, within thirty (30) days after such [**********], pay to Wyeth an
amount (the “H1N1 [**********] Makeup Amount”) equal to (a) [**********]
minus (b)
the aggregate amount of Additional Royalties paid to Wyeth pursuant to
paragraph 2 above through the date of such [**********]. Upon
payment of the H1N1 [**********] Makeup Amount, Novavax and its Affiliates
and permitted sublicenses shall have no further obligation to pay any
Additional Royalties to Wyeth.
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4.
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Nothing
herein shall affect the obligations of Novavax, its Affiliates and its
permitted sublicensees to make any payments to Wyeth under Section 3.1.3
or 3.1.4 of the Agreement for any Product other than the H1N1 Product or
for any indication for the H1N1 Product other than H1N1
influenza.
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5.
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In
all other respects the Agreement shall remain in full force and
effect.
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IN
WITNESS HEREOF, the parties hereto have caused their duly authorized
representatives to execute this Amendment No. 1 to the Agreement.
NOVAVAX,
INC.
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WYETH
HOLDINGS
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CORPORATION
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By:
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/s/ Xxxxx Xxxxxxx
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By:
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/s/ Xxxxxx X. Xxxx
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Name:
Xxxxx Xxxxxxx, Sc.D.
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Name: Xxxxxx
X. Xxxx
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Title:
President and CEO
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Title: Vice
President
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