Donte:
Welcome Beat readers, Happy holidays and turkey day.
This is the time of year that some companies drop lousy news that might get less attention as people enjoy greens, beans, potatoes, chicken, turkey, you name it, at the dinner table with family and friends. One such item came this week in the medical space as Novavax announced it was terminating its contract with an international vaccine alliance. Another is the aftershocks in the cryptoworld due to FTX’s bankruptcy and what it could mean for crypto startups.
But enough from me, read about it for yourself. |
Novavax Inc. has ended a contract with Gavi, the Vaccine Alliance, contending the global nonprofit reneged on its agreement to buy 350 million doses of the Gaithersburg biotech’s Covid-19 vaccine.
But Gavi said Novavax never delivered on its promise to supply those doses per the contract — and that the nonprofit will therefore seek to recover payments it made to Novavax under their agreement.
At stake is $700M — $350M Gavi paid to Novavax as an advance in 2021 and another $350M it paid out in 2022 when the World Health Organization authorized Novavax’s vaccine for emergency use in dozens of countries.
Here’s the full story. |
Quick hits on the region's movers and shakers |
Oxiwear is going global
Arlington med-tech startup Oxiwear is partnering with Australia based high-altitude training provider Air Locker Training to bring Oxiwear’s oxygen level monitor to members at over 600 of the health and fitness franchise’s studios launching in the next few years. Here’s more about Oxiwear and its journey thus far.
What the aftermath of FTX could mean for crypto startups
FTX, once one of the largest cryptocurrency exchanges in the world and among the most prominent startups in the emerging industry, is in bankruptcy. Here’s more. How to win over Gen Z talent
ACBJ gets insight from Harvard University’s Malcolm Wiener Center for Social Policy, the founder and CEO of Hustle Career Consulting and Pew Research on why Gen Z leaves the workplace and a playbook on some of the ways get them to stay. Here’s more.
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The events to know in the ecosystem |
