Protea and GlaxoSmithKline Biologicals are jointly developing a universal protein-based Streptococcus pneumoniae vaccine.
NasVax Ltd. (TASE: NSVX) subsidiary Protea Vaccine Technologies Ltd. has received a €200,000 royalties payment from GlaxoSmithKline plc (NYSE; LSE: GSK), bringing the total royalties to €1.7 million.
Protea and GlaxoSmithKline Biologicals SA are jointly developing Protea's pneumococcal proteins for the development of a universal protein-based Streptococcus pneumoniae vaccine. GlaxoSmithKlein has an option to obtain an exclusive license for the vaccine, if developed.
NasVax's share price rose 9.2% by mid-afternoon to NIS 1.30, giving a market cap of NIS 41 million.
Published by Globes [online], Israel business news - www.globes-online.com - on June 2, 2010
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