Inovio Pharmaceuticals Inc (INO)

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The agreement calls for Advaccine — a Chinese biotechnology company that specializes in vaccine development — to make an upfront payment of $3 million to Inovio (NASDAQ: INO), and up to another $108 million in potential payments based on achieving undisclosed development and sales-based milestones for INO-4800 in Greater China.

Plymouth Meeting-based Inovio will be entitled to receive a royalty equal to a high single-digit percentage of annual net sales in each region within Greater China.

“Inovio’s partnership with Advaccine enables us to leverage their deep expertise, capabilities and network across the region – making it possible to rapidly produce and if and when approved, distribute our vaccine candidate to more people across Greater China," said J. Joseph Kim, Inovio's CEO. "This agreement also provides Inovio with an Asian manufacturing partner with a near-term focus on INO-4800 and a long-term manufacturing resource potentially for other Inovio products.”

Dr. Bin Wang, founder and chairman of Advaccine, said his company's manufacturing facility in Suzhou has the capacity to produce more than 100 million doses of DNA vaccine per year.

"Given the strong safety profile and robust immune responses observed in the U.S. and China clinical trials of INO-4800, we are confident in the vaccine candidate and are fully committed to the manufacturing of INO-4800 for Greater China," Wang said in a statement. 1/4/21
https://www.bizjournals.com/philadelphia/news/2021/01/04/inovio-covid-19-vaccine-license-china-advaccine.html

Inovio's vaccine candidate differs from some of the other Covid-19 vaccines approved or in development in that it does not need to be frozen during transport or storage and is projected to be stable at room temperature for over a year, with a five-year projected shelf life at normal refrigeration temperature.