Novavax has signed a non-exclusive licensing agreement with Pfizer for the use of its Matrix-M® adjuvant in up to two disease areas, including a $30 million upfront payment, up to $500 million in milestones, and tiered royalty earnings on future product sales.
Written By: Pharmacally Medical News Desk
Novavax, Inc. has entered into a non-exclusive license agreement with Pfizer Inc. for the use of its proprietary Matrix-M® adjuvant, marking another strategic step in expanding the technology’s application beyond Novavax’s internal pipeline.
Under the agreement, Pfizer will be able to utilize Matrix-M in combination with its own products across up to two disease areas. The arrangement allows Pfizer to independently develop and commercialize any resulting products, while Novavax will retain responsibility for supplying the Matrix-M adjuvant.
Financial terms and milestones
As part of the deal, Novavax will receive an upfront payment of $30 million. In addition, the company is eligible for up to $500 million in combined development and sales-based milestone payments, depending on the progress and commercial success of Pfizer’s Matrix-M–containing products.
Beyond milestones, Novavax will also earn tiered royalties in the high mid-single digit percentage range on net sales of any Pfizer product that incorporates Matrix-M, providing a potential long-term revenue stream.
Strategic significance of Matrix-M
Matrix-M is a saponin-based adjuvant designed to enhance immune responses and enable strong efficacy with lower antigen doses. The agreement with Pfizer further validates the broader utility of the platform and its potential role in next-generation vaccines and immunotherapies.
Commenting on the collaboration, Novavax President and CEO John C. Jacobs said the agreement reflects growing interest in Matrix-M as a versatile enabling technology. He added that the deal, alongside other recent partnerships, highlights Matrix-M’s potential to support the development of new products across multiple disease areas.
Roles and responsibilities
Under the licensing terms, Pfizer will assume full responsibility for clinical development, regulatory activities, and commercialization of its Matrix-M–based products. Novavax, meanwhile, will focus on manufacturing and supplying the adjuvant, aligning with its strategy to monetize proprietary technologies through partnerships while managing costs.
Overall, the agreement strengthens Novavax’s position as a platform innovator and provides Pfizer with access to a clinically validated adjuvant as it advances its future development programs.
Reference
Novavax Announces Entering into a License Agreement with Pfizer, 20 January 2026, Novavax Announces Entering into a License Agreement with Pfizer – Jan 20, 2026