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Intercell receives €40 million option fee from Novartis

This article was originally published in Scrip

Executive Summary

Intercell has received a €40 million option fee from Novartis as part of a deal signed in July 2007 to develop vaccines against infectious diseases. This brings total payments from the Swiss company to €270 million to date, following an equity investment of €150 million last September and a €80 million option and upfront licence fee in November. Werner Lanthaler, Intercell chief financial officer, expects the company to have around €200 million in cash by the end of the year.

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