It ensures activity in the factory in coming years and means one of Bavarian Nordic’s divisions can bankroll the other, says Asger Aamund, founder and Chairman of the board in Bavarian Nordic, following the news of a new million-dollar-contract for the smallpox vaccine Imvamune from the US government.
The order is important, but not unexpected, he points out to Medwatch, alluding to the drawn out negotiations with the Americans. But the Chairman’s joy of finally having signed the deal is unmistakable.
“We are very happy that the contract is secured and payments can start to roll in. It is a highly important contract, because it ensures activity in the factory in coming years, until we have to deliver the new long-lasting version. It is an order for USD 228 million, and it is a very profitable order, ensuring great liquidity,” Asger Aamund says.
He is also very pleased to see the many millions entering the company, as Bavarian is posting huge sums in the other part of it business with a view to developing a vaccine for prostate cancer called Prostvac. That vaccine is currently being tested in pivotal, phase III trials with humans.
“Now we will be making enough money to finance the rest of the phase III program with our cancer vaccine, Prostvac, while keeping a really good liquidity,” Asger Aamund points out.
He adds that Bavarian consists of two divisions – an infectious diseases division and a cancer vaccine division.
“The infectious diseases division is expected to deliver a pre-tax result of 350 million kroner (USD 61.2 million) this year, which is very good. Things have come together nicely. For a long time, we have tried to make one division fund the other until they hopefully both become profitable. It is the first step in the final industrialisation of Bavarian Nordic.”
- translated by Martin Havtorn Petersen