Novavax Announces Facility Expansion to Support Global Vaccine Development
03 November 2020 - 12:16AM
Novavax, Inc. (Nasdaq: NVAX), a late-stage biotechnology
company developing next-generation vaccines for serious infectious
diseases, today announced the expansion of its Maryland campus to
accommodate the company’s rapid growth as it works to develop its
candidate vaccine against COVID-19 and advance its influenza
vaccine for global markets. Novavax has secured two additional
properties in Gaithersburg, Maryland to support the Company’s
immediate need for additional laboratory and office space for
manufacturing, R&D and business operations.
The Company currently has a large pivotal Phase
3 trial underway in the UK with another slated to begin in the
United States and Mexico in November, as well as several Phase 2
trials ongoing and in the planning phases around the globe. Novavax
has also created a global production network to enable
manufacturing and rapid distribution across the U.S., Asia and
Europe if and when its COVID-19 vaccine is approved for use. The
Company also reported positive Phase 3 data for its influenza
vaccine candidate, NanoFlu, earlier this year. Novavax has received
$2 billion in funding for its COVID-19 vaccine efforts, including
up to $1.6 billion from the U.S. government to help address the
global pandemic and up to $388 million from the Coalition for
Epidemic Preparedness Innovations (CEPI).
“The expansion of our physical footprint
reflects Novavax’ significant growth as we work to both rapidly
deliver a COVID-19 vaccine and progress NanoFlu, our influenza
vaccine candidate, for regulatory submission and potential
commercialization,” said Stanley C. Erck, President and CEO,
Novavax. “We appreciate the support, partnership and speed of the
Maryland Department of Commerce, Montgomery County, and the City of
Gaithersburg, which have enabled the expansion of our operations,
enhanced our ability to retain and attract highly skilled
employees, and reinforced our longstanding commitment to the
biotechnology sector in Maryland.”
Real Estate
Transactions
Novavax entered into a 15-year lease for approximately 122,000
square feet located at 700 Quince Orchard Road, Gaithersburg, to be
used for manufacturing, research and development, and offices. The
Company will immediately invest in the buildout of the site to
prepare for use beginning in early 2021
In addition, the Company’s affiliate, 14
Firstfield Holdings, LLC, purchased a 9.7-acre parcel of land at 14
Firstfield Road, Gaithersburg, that the Company plans to develop in
the future to accommodate growth of the Company.
Novavax currently occupies approximately 79,000
square feet of office and laboratory space in Gaithersburg.
Government Support and
Incentives
The Maryland Department of Commerce, Montgomery
County, and the City of Gaithersburg are providing a combination of
incentives, including conditional loans, grants and tax credits to
enable the expansion. Additional terms were not disclosed.
About NVX-CoV2373NVX-CoV2373 is a vaccine
candidate engineered from the genetic sequence of SARS-CoV-2, the
virus that causes COVID-19 disease. NVX-CoV2373 was created using
Novavax’ recombinant nanoparticle technology to generate antigen
derived from the coronavirus spike (S) protein and contains
Novavax’ patented saponin-based Matrix-M™ adjuvant to enhance the
immune response and stimulate high levels of neutralizing
antibodies. NVX-CoV2373 contains purified protein antigen and
cannot replicate, nor can it cause COVID-19. In preclinical trials,
NVX-CoV2373 demonstrated induction of antibodies that block binding
of spike protein to receptors targeted by the virus, a critical
aspect for effective vaccine protection. In the Phase 1 portion of
its Phase 1/2 clinical trial, NVX-CoV2373 was generally
well-tolerated and elicited robust antibody responses numerically
superior to that seen in human convalescent sera. NVX-CoV2373 is
also being evaluated in a Phase 3 trial in the UK and two ongoing
Phase 2 studies that began in August; a Phase 2b trial in South
Africa, and a Phase 1/2 continuation in the U.S. and Australia.
Novavax has secured $2 billion in funding for its global
coronavirus vaccine program, including up to $388 million in
funding from the Coalition for Epidemic Preparedness Innovations
(CEPI).
About NanoFlu™
NanoFlu is a recombinant hemagglutinin (HA)
protein nanoparticle influenza vaccine produced
by Novavax in its SF9 insect cell baculovirus system.
NanoFlu uses HA amino acid protein sequences that are the same as
the recommended wild-type circulating virus HA sequences. NanoFlu
contains Novavax’ patented saponin-based MatrixM adjuvant.
About NovavaxNovavax,
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. Novavax is undertaking
clinical trials for NVX-CoV2373, its vaccine candidate against
SARS-CoV-2, the virus that causes COVID-19. 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 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
and LinkedIn.
Novavax 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, and Quarterly Report on
Form 10-Q for the period ended June 30, 2020, as
filed with the Securities and Exchange Commission (SEC).
We caution investors not to place considerable reliance on
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 uncertainties.
Contacts:
Investors
Erika Trahan
ir@novavax.com
240-268-2022
Media
Brandzone/KOGS Communication
Edna Kaplan
kaplan@kogspr.com
617-974-8659
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