Full Press Release Details
Novavax to Receive up to $388 Million
for COVID-19 Vaccine Development and
MD, May 11, 2020 - Novavax, Inc. (NASDAQ: NVAX), a late-stage biotechnology company developing next-generation vaccines
for serious infectious diseases, today announced that the Coalition for Epidemic Preparedness Innovations (CEPI) will invest up
to $384 million of additional funding, on top of $4 million it invested in March, to advance clinical development of NVX-CoV2373,
Novavax' coronavirus vaccine candidate against SARS-CoV-2. The additional funding from CEPI will also support rapid scale-up
of the NVX-CoV2373 vaccine antigen, as well as Novavax' proprietary Matrix-M adjuvant, which is expected to enhance
immune responses by stimulating high levels of neutralizing antibodies. In addition, the CEPI funding will allow Novavax to dramatically
increase its large-scale manufacturing capacity for both antigen and adjuvant in multiple locations.
plays a vital role in advancing innovative technologies against the COVID-19 pandemic. Their partnership and support allows Novavax
to leverage its innovative vaccine platform and expertise in this global crisis," said Stanley C. Erck, President and Chief
Executive Officer of Novavax. "For the last few months, the entire Novavax team has been working nonstop in an ongoing effort
to make our vaccine a reality, and we appreciate CEPI's confidence in our technology platform and our progress."
plans to use CEPI funding to advance NVX-CoV2373 with:
and CEPI agree on the importance of global equitable access to the vaccines produced out of the partnership. It is anticipated
that vaccines will be procured and allocated through global mechanisms now under discussion as part of the Access to COVID-19 Tools
(ACT) Accelerator, an international initiative launched by the WHO and global leaders earlier this month.
expansion of our partnership with Novavax represents CEPI's single biggest investment to date", said Richard Hatchett,
Chief Executive Officer of CEPI. "Our vaccine R&D programmes are starting to show progress, so it is vital that we invest
now to boost manufacturing capacity, so that our partners have the ability to produce vaccines at a global scale. We still have
a long way to go, but we're making important steps forward to deliver a safe, effective, and globally accessible vaccine
as quickly as possible."
SARS-CoV-2 first appeared in late 2019
in China before beginning its rapid spread across the globe. The disease, named COVID-19, continues to cause severe pneumonia-like
symptoms in many of those infected. Coronaviruses, so named for their "crown-like" appearance, are a large family of
viruses that are believed to have spread from animals to humans and include the viruses causing SARS (severe acute respiratory
syndrome) and MERS (Middle East respiratory syndrome). While much remains unknown about the latest coronavirus, it is known to
spread via human-to-human transmission before symptoms appear.
Novavax' patented saponin-based Matrix-M
adjuvant has demonstrated a potent and well-tolerated effect by stimulating the entry of antigen-presenting cells into the injection
site and enhancing antigen presentation in local lymph nodes, boosting immune response and helping an immunized person make antibodies
CEPI is an innovative partnership between
public, private, philanthropic, and civil society organizations, launched at Davos in 2017, to develop vaccines to stop future
epidemics. CEPI has moved with great urgency and in coordination with WHO in response to the emergence of COVID-19. CEPI has initiated
9 partnerships to develop vaccines against the novel coronavirus. The programs will leverage rapid response platforms already supported
by CEPI as well as new partnerships. The aim is to advance COVID-19 vaccine candidates into clinical testing as quickly as possible.
Before the emergence of COVID-19 CEPI's
priority diseases included Ebola virus, Lassa virus, Middle East Respiratory Syndrome coronavirus, Nipah virus, Rift Valley Fever
and Chikungunya virus. CEPI also invested in platform technologies that can be used for rapid vaccine and immunoprophylactic development
against unknown pathogens (Disease X).
Inc. (Nasdaq:NVAX), is a late-stage biotechnology company that promotes improved health globally through the discovery, development,
and commercialization of innovative vaccines to prevent serious infectious diseases and address urgent, global health needs. Novavax
recently initiated development of NVX-CoV2373, its vaccine candidate against SARS-CoV-2, the virus that causes COVID-19, with Phase
1 clinical trial results expected in July of 2020. NanoFlu , its quadrivalent influenza nanoparticle vaccine, met all primary
objectives in its pivotal Phase 3 clinical trial in older adults. Both vaccine candidates incorporate Novavax' proprietary
saponin-based Matrix-M adjuvant in order to enhance the immune response and stimulate high levels of neutralizing antibodies.
Novavax is a leading innovator of recombinant vaccines; its proprietary recombinant technology platform combines the power and
speed of genetic engineering to efficiently produce highly immunogenic nanoparticles in order to address urgent global health needs.
For more information,
visit www.novavax.com and connect with us on Twitter
Forward-Looking Statements
Statements herein relating to the future
of Novavax and the ongoing development of its vaccine and adjuvant products are forward-looking statements. Novavax cautions that
these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially
from those expressed or implied by such statements. These risks and uncertainties include those identified under the heading "Risk
Factors" in the Novavax Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the Securities and
Exchange Commission (SEC). We caution investors not to place considerable reliance on the forward-looking statements contained
in this press release. You are encouraged to read our filings with the SEC, available at sec.gov, for a discussion of these and
other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document,
and we undertake no obligation to update or revise any of the statements. Our business is subject to substantial risks and uncertainties,
including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and
Brandzone/COGS Communication