Pharma BD Deal Intelligence
On January 20, 2026, Novavax granted Pfizer a non-exclusive worldwide license to its Matrix-M adjuvant for use in vaccine products across up to two infectious-disease fields (the first field selected at signing; a second field designatable at Pfizer's option). Pfizer paid $30 million upfront and Novavax is eligible for up to $500 million in additional development and sales milestones plus tiered high-mid-single-digit royalties on sales of any Pfizer product incorporating Matrix-M. Pfizer is solely responsible for development and commercialization while Novavax supplies the adjuvant. The license is effective on signing (not subject to a separate regulatory or shareholder close); Novavax received and recognized the $30 million upfront in Q1 2026. The agreement is a pillar of Novavax's post-COVID 'amplification' strategy of monetizing Matrix-M through partnerships alongside its Sanofi arrangement.