At around 6.40pm, a white Fiat Diablo was in collision with a white Ford transit van on the A5 in Fosters Booth - midway between Weedon and Towcester.
Both vehicles collided at the junction of Butchers Lane.
The man driving the Fiat suffered serious injuries and was taken to University Hospital Coventry.
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The man driving the Ford suffered non-life threatening injuries.
Anyone with information or who witnessed this incident is asked to call the Drivewatch Hotline on 0800 174615.