August 25, 2017 / 10:56 AM / a year ago

Bavarian Nordic says first milestone payment under new J&J deal could be in 2019

COPENHAGEN, Aug 25 (Reuters) - Danish biotech company Bavarian Nordic expects to get a first milestone payment under a new deal with Janssen Pharmaceuticals in 2019, if clinical trials for vaccines targeting hepatitis B and HIV-1 get underway next year, a company executive said.

Bavarian Nordic last month sighed an expanded collaboration with Janssen, a unit of Johnson & Johnson, a deal with a potential value of up to $879 million including upfront, equity investment and milestone payments.

The company will produce clinical material for HIV and hepatitis within the next six to nine months, and Janssen aims to begin clinical trials during 2018.

"I think that if the studies get underway next year, first milestone payment could happen in 2019," Bavarian's Chief Financial Officer Ole Larsen told Reuters in an interview on Friday. (Reporting by Jacob Gronholt-Pedersen, editing by David Evans)

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