Bavarian Nordic shares soar as massive cancer deal is signed

Agreement could potentially be worth 6.5 billion kroner

The Danish biotech company Bavarian Nordic has been on the rise since it announced that it was part of a co-operation aimed at developing an Ebola vaccine last year. And today, the company took another massive step towards long-term success.

Bavarian Nordic has revealed that it has signed an agreement with the American pharmaceutical company Bristol-Myers-Squibb (BMS) involving the exclusive option to license and commercialise its prostate cancer vaccine Prostvac.

“We are proud to partner with Bristol-Myers Squibb, whose excellence and leadership in immuno-oncology provides a strong foundation for advancing Prostvac, which has the potential to become an essential component in the treatment of prostate cancer,” Paul Chaplin, the CEO of Bavarian Nordic, said.

“Leveraging the capabilities of Bristol-Myers Squibb’s science, we look forward to exploring the full potential of Prostvac in the future treatment paradigm of prostate cancer.”

READ MORE: Bavarian Nordic part of US Ebola vaccine collaboration

Shares shoot up
The deal could potentially be worth 6.5 billion kroner and is the largest ever deal for the Danish company.

The agreement includes an option for BMS to launch and sell Prostvac over a certain period of time, depending on the results of the ongoing phase-3 studies.

The two companies have agreed that Bavarian Nordic will produce and distribute the vaccine.

Following the news of the deal today, Bavarian Nordic's share price shot up by close to 30 percent and is at its highest since the beginning of 2011.





  • How internationals can benefit from joining trade unions

    How internationals can benefit from joining trade unions

    Being part of a trade union is a long-established norm for Danes. But many internationals do not join unions – instead enduring workers’ rights violations. Find out how joining a union could benefit you, and how to go about it.

  • Internationals in Denmark rarely join a trade union

    Internationals in Denmark rarely join a trade union

    Internationals are overrepresented in the lowest-paid fields of agriculture, transport, cleaning, hotels and restaurants, and construction – industries that classically lack collective agreements. A new analysis from the Workers’ Union’s Business Council suggests that internationals rarely join trade unions – but if they did, it would generate better industry standards.

  • Novo Nordisk overtakes LEGO as the most desirable future workplace amongst university students

    Novo Nordisk overtakes LEGO as the most desirable future workplace amongst university students

    The numbers are especially striking amongst the 3,477 business and economics students polled, of whom 31 percent elected Novo Nordisk as their favorite, compared with 20 percent last year.