Novavax Inc. is selling off its manufacturing business to Baltimore’s Paragon Bioservices Inc., now part of New Jersey-based Catalent Inc., in a move the Gaithersburg biotech’s CEO says will cut its burn rate by more than half. The Gaithersburg company will turn over two of its manufacturing facilities and equipment to Paragon (NYSE: CTLT), for $18 million in cash. More than 100 of Novavax’s employees will also become part of Catalent. The New Jersey company’s acquisition of Paragon, one of…
from https://www.bizjournals.com/baltimore/news/2019/06/27/novavax-selling-manufacturing-business-to.html?ana=RSS&s=article_search
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