Pfizer and Novavax entered into a licensing agreement for the use of Novavax's Matrix-M adjuvant in Pfizer's products.[1] The agreement is non-exclusive and allows Pfizer to develop in up to two disease areas.[1] Novavax will receive a $30 million upfront payment and potentially up to $500 million in development and sales milestones.[1] In addition, it is entitled to high royalties of a mid-single digit percentage of sales of relevant products.[1] Pfizer will be responsible for developing and commercializing its products with Matrix-M.[1] Novavax will provide Matrix-M adjuvant supplies.[1] The total value of the agreement reaches 530 million dollars.[1]