The Danish biotech company Bavarian Nordic has acquired two vaccines from the international pharmaceutical company GlaxoSmithKline. The two vaccines are Rabipur/RabAvert and Encepur.
Rabipur/RabAvert provides pre- and post-exposure protection against rabies, while Encepur protects against Western European tick-borne encephalitis (TBE) virus.
The purchase price consists of an upfront payment at the conclusion of the agreement and agreed milestone payments expected during the period until 2025.
The upfront payment will be financed by Bavarian Nordic’s existing cash and cash equivalents and a bridge financing from the banks Nordea and CitiBank.
Accura advised Nordea and CitiBank in connection with the bridge financing.