Vaxart Announces $5 Million Inavir® Revenue Milestone

20-Apr-2018 Intellasia | BusinessWire | 7:00 PM Print This Post

2017 Net Sales of Inavir® in Japan Exceeded
¥20 Billion, Triggering USD $5 Million Milestone Payment

SOUTH SAN FRANCISCO, Calif.–(BUSINESS WIRE)–Vaxart, Inc., a clinical-stage biotechnology company developing oral
recombinant vaccines that are administered by tablet rather than by
injection, announced today that it received notification from Daiichi
Sankyo Co., Ltd, that sales of Inavir®, a single dose product
licensed in Japan to prevent or treat influenza infection, exceeded ¥20
billion in the fiscal year 2017, triggering a $5 million milestone
payment to Vaxart. The payment is expected in the second quarter of 2018
and is in accordance with the terms of the 2009 Commercialization
Agreement between Daiichi Sankyo and Biota Pharmaceuticals, a company
recently acquired by Vaxart.

“Daiichi Sankyo, our partner for Inavir® in Japan, has
successfully built a strong franchise in the influenza sector since the
launch of Inavir®in 2010, and is now the market leader in
Japan,” said Wouter Latour, chief executive office of Vaxart. “We expect
Inavir® to continue to generate meaningful royalty revenue
for Vaxart over the coming years, and we congratulate our colleagues at
Daiichi Sankyo with these excellent results.”

About Inavir®

Since its launch in 2010, Inavir® (laninamivir octanoate) has
become the leading treatment for influenza in Japan. The product is
taken via a single inhaled dose, which can be more convenient than other
flu medications that require several days of dosing. Inavir®
is sold in Japan by Daiichi Sankyo and has been approved for both
treatment and prevention of the influenza A and influenza B viruses.

About Daiichi Sankyo

Daiichi Sankyo Group is dedicated to the creation and supply of
innovative pharmaceutical products to address diversified, unmet medical
needs of patients in both mature and emerging markets. With over 100
years of scientific expertise and a presence in more than 20 countries,
Daiichi Sankyo and its 15,000 employees around the world draw upon a
rich legacy of innovation and a robust pipeline of promising new
medicines to help people. In addition to a strong portfolio of medicines
for hypertension and thrombotic disorders, under the Group’s 2025 Vision
to become a “Global Pharma Innovator with Competitive Advantage in
Oncology,” Daiichi Sankyo research and development is primarily focused
on bringing forth novel therapies in oncology, including
immuno-oncology, with additional focus on new horizon areas, such as
pain management, neurodegenerative diseases, heart and kidney diseases,
and other rare diseases. For more information, please visit: www.daiichisankyo.com.

About Vaxart

Vaxart is a clinical-stage biotechnology company focused on developing
oral recombinant protein vaccines based on its proprietary oral vaccine
platform. Vaxart’s vaccines are designed to generate broad and durable
immune responses that protect against a wide range of infectious
diseases and may be useful for the treatment of chronic viral infections
and cancer. Vaxart’s vaccines are administered using a convenient room
temperature-stable tablet, rather than by injection. Vaxart believes
that tablet vaccines are easier to distribute and administer than
injectable vaccines, and have the potential to significantly increase
vaccination rates. Vaxart’s development programs include oral tablet
vaccines that are designed to protect against norovirus, seasonal
influenza and respiratory syncytial virus (RSV), as well as a
therapeutic vaccine for human papillomavirus (HPV). Vaxart is also
developing several small-molecule antiviral drug candidates, including
teslexivir (BTA074), an antiviral treatment for condyloma caused by HPV
types 6 and 11. For more information, please visit www.vaxart.com.

Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that involve
substantial risks and uncertainties. All statements, other than
statements of historical facts, included in this press release regarding
our strategy, prospects, plans and objectives, results from preclinical
and clinical trials, commercialization agreements and licenses, beliefs
and expectations of management are forward-looking statements. These
forward-looking statements may be accompanied by such words as
“believe,” “could,” “potential”, “will” and other words and terms of
similar meaning. Examples of such statements include, but are not
limited to, statements relating to the Vaxart’s ability to develop and
commercialize its product candidates, clinical results and trial data,
Vaxart’s ability to obtain and maintain regulatory approval of its
product candidates and Vaxart’s reliance on third party funding and
grants. Vaxart may not actually achieve the plans, carry out the
intentions or meet the expectations or projections disclosed in our
forward-looking statements and you should not place undue reliance on
these forward-looking statements. Actual results or events could differ
materially from the plans, intentions, expectations and projections
disclosed in the forward-looking statements. Various important factors
could cause actual results or events to differ materially from the
forward-looking statements that Vaxart makes, that Vaxart’s product
candidates may not be approved by the FDA or non-U.S. regulatory
authorities; that, even if approved by the FDA or non-U.S. regulatory
authorities, Vaxart’s product candidates may not achieve broad market
acceptance; and the risks described in the “Risk Factors” sections of
the Registration Statement on Form S-4 (file no. 333-222009) and of
Vaxart’s periodic reports filed with the SEC. Vaxart does not assume any
obligation to update any forward-looking statements, except as required
by law.

Contacts

Stern Investor Relations
Carl Mauch, 212-362-1200
[email protected]

 


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