Avant brings forward $40M Rotarix milestone payment
The USA's Avant Immunotherapeutics says it has amended its deal with Paul Royalty Fund to accelerate a $40.0 million milestone payment related to the first sale of the Rotarix rotavirus vaccine in the European Union, which is expected during the second quarter of this year. The firm will receive the funds on March 17, and is still set to receive further milestone payments of $9.0 million - $11.0 million from PRF.
Avant also says that the product will earn it additional payments under the licensing deals it has with UK major GlaxoSmithKline.
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