- New organizational structure for executive leadership team
designed to facilitate a leaner and more focused approach to annual
execution of business plans
- John Trizzino appointed to
new Chief Operating Officer role
- Mark Casey to join as Chief
Legal Officer and Corporate Secretary
GAITHERSBURG, Md., Nov. 17,
2023 /PRNewswire/ -- Novavax, Inc. (Nasdaq: NVAX), a
global company advancing protein-based vaccines with its
Matrix-M™ adjuvant, today announced changes to its
executive leadership team designed to enhance focus on its
strategic priorities and continue the evolution of the Company's
scale and structure announced last week.
John Trizzino will take on the
newly created role of President and Chief Operating Officer for the
Company. In this role, Mr. Trizzino will lead the commercial;
chemistry, manufacturing and controls or CMC; and regulatory
functions. He will continue to serve on the Company's executive
leadership team.
Current Chief Legal Officer and Corporate Secretary John Herrmann will retire effective December 8, and Mark
Casey will join the Company as his successor effective
December 11. Mr. Casey will also
serve on the Company's executive leadership team.
"As we announced last week, we are keenly focused on effectively
delivering our COVID-19 product to market and evolving Novavax's
scale and structure to position the Company for future success. In
his new role as Chief Operating Officer, John Trizzino will focus on all aspects of
successful product delivery, both for the 2023-2024 vaccination
season and beyond. His deep knowledge of the Company and our
processes will help to facilitate the transition to a more
streamlined and efficient operating model," said John C. Jacobs, President and Chief Executive
Officer, Novavax. "As Chief Legal Officer for nearly 14 years,
John Herrmann helped transition
Novavax from a clinical development organization to a global
commercial vaccine company during a worldwide pandemic. We are
incredibly grateful for his leadership, and I am delighted that
John has agreed to serve as an advisor to me and the Company for
the next year. His successor, Mark
Casey, brings more than 30 years of experience to Novavax,
and we look forward to the next chapter with him at the helm of our
legal team."
Mr. Trizzino has broad experience in publicly held companies and
over 25 years in the vaccines market. During his 12 years with
Novavax, Mr. Trizzino most recently served as Executive Vice
President, Chief Commercial Officer and Chief Business Officer, and
has also held the roles of Chief Financial Officer, Senior Vice
President of Commercial Operations and Senior Vice President of
Business Development. Previously, Mr. Trizzino served as Chief
Executive Officer of Immunovaccine, successfully leading the
company into clinical development within the infectious disease and
cancer immunotherapy business, and has also held leadership roles
at MedImmune, LLC (now AstraZeneca), ID Biomedical and Henry Schein, Inc. Mr. Trizzino holds a Bachelor
of Science from Long Island University
and a Master of Business Administration from New York University, Stern School of Business.
Mr. Casey has decades of experience in the life sciences sector
and most recently served as Chief Legal Officer and Corporate
Secretary at Bryn Pharma. He previously served as Chief Legal
Officer, Corporate Secretary and Executive Chairman of the Board -
Specialty Generics at Mallinckrodt Pharmaceuticals where he led
business turnaround inclusive of enhancing profitability through
rationalization of the R&D portfolio, identifying applications
for underutilized manufacturing capacity and executive-level
changes. Earlier in his career, Mr. Casey held executive leadership
roles at Idera Pharmaceuticals and Hologic and held roles of
increasing responsibility at Boston Scientific and EMC Corp. Mr.
Casey holds a Bachelor of Science from Syracuse University and a Juris Doctor from
Suffolk University Law School.
About Novavax
Novavax, Inc. (Nasdaq: NVAX) promotes improved health by
discovering, developing and commercializing innovative vaccines to
help protect against serious infectious diseases. Novavax, a global
company based in Gaithersburg,
Md., U.S., offers a differentiated vaccine platform that
combines a recombinant protein approach, innovative nanoparticle
technology and Novavax's patented Matrix-M adjuvant to enhance the
immune response. Focused on the world's most urgent health
challenges, Novavax is currently evaluating vaccines for COVID-19,
influenza and COVID-19 and influenza combined. Please visit
novavax.com and LinkedIn for more information.
Forward-Looking Statements
Statements herein relating to the future of Novavax, its operating
plans and prospects, including the continued evolution of the
Company's scale and structure, and the effective delivery of its
updated XBB version of its Novavax COVID-19 Vaccine, Adjuvanted
(2023-2024 Formula) (NVX-CoV2601) are forward-looking statements.
Novavax cautions that these forward-looking statements are subject
to numerous risks and uncertainties that could cause actual results
to differ materially from those expressed or implied by such
statements. These risks and uncertainties include, without
limitation, challenges satisfying, alone or together with partners,
various safety, efficacy, and product characterization
requirements, including those related to process qualification and
assay validation, necessary to satisfy applicable regulatory
authorities; difficulty obtaining scarce raw materials and
supplies; resource constraints, including human capital and
manufacturing capacity, on the ability of Novavax to pursue planned
regulatory pathways; challenges or delays in obtaining regulatory
authorization for its product candidates, including its updated XBB
version of its COVID-19 vaccine in time for the fall 2023
vaccination season or for future COVID-19 variant strain changes;
challenges or delays in clinical trials; manufacturing,
distribution or export delays or challenges; Novavax's exclusive
dependence on Serum Institute of India Pvt. Ltd. for co-formulation
and filling and the impact of any delays or disruptions in their
operations on the delivery of customer orders; challenges in
obtaining commercial adoption of our updated protein-based non-mRNA
XBB COVID-19 vaccine, NVX-CoV2373 or any COVID-19 variant
strain-containing formulation; challenges meeting contractual
requirements under agreements with multiple commercial,
governmental, and other entities; and those other risk factors
identified in the "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" sections
of Novavax's Annual Report on Form 10-K for the year ended
December 31, 2022 and subsequent
Quarterly Reports on Form 10-Q, 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 www.sec.gov and www.novavax.com, 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 Schultz
240-268-2022
ir@novavax.com
Media
Ali Chartan
240-720-7804
media@novavax.com
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SOURCE NOVAVAX, INC