Novavax Awarded Funding from CEPI for COVID-19 Vaccine Development
10 März 2020 - 10:30AM
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 (CEPI) awarded an initial funding of $4 million to
support Novavax’ efforts to develop a COVID-19 vaccine. CEPI and
Novavax are having ongoing discussions on additional funding from
CEPI to address Novavax’ costs through Phase 1.
“This first stage of funding from CEPI is
critical to enable ongoing development of our COVID-19 vaccine
candidates,” said Stanley C. Erck, President and Chief Executive
Officer of Novavax. “We commend CEPI for its role as a vital
partner to bridge the funding gap for innovative biotech companies
like Novavax, which have robust vaccine technology platforms.
Novavax is working tirelessly to create a vaccine against this
growing epidemic.”
Novavax has produced and is currently assessing
multiple recombinant nanoparticle vaccine candidates in animal
models prior to advancing to clinical trials. Initiation of Phase1
clinical testing is expected in late spring of 2020. Novavax’
COVID-19 vaccine candidates were created with its proprietary
recombinant protein nanoparticle technology platform to generate
antigens derived from the coronavirus spike (S) protein. Novavax
also expects to utilize its proprietary Matrix-M™ adjuvant with its
COVID-19 vaccine candidates to enhance immune responses.
“The current crisis shows that we cannot prevent
all infectious diseases from emerging. But we can and must double
down on developing vaccines,” said Richard Hatchett, Chief
Executive Officer of CEPI. “CEPI has moved quickly and urgently to
coordinate with global health authorities and vaccine-development
partners. CEPI is pleased to be partnering with Novavax to rapidly
develop a potential vaccine candidate against the global threat
posed by COVID-19.”
Novavax recently entered into an agreement with
Emergent BioSolutions, Inc. (Emergent) to provide contract
development and manufacturing services, supplying Novavax with
vaccine product for preclinical testing and for use in its Phase 1
clinical trial. In addition, this arrangement offers the potential
to leverage Emergent’s rapid deployment capabilities and expertise
that provide Novavax scalability and capacity to produce vaccine
product for future stockpiling. Emergent will utilize its two
Baltimore, MD facilities to manufacture drug substance at its
Bayview facility, designated by the U.S. Health and Human Services
(HHS) as a Center for Innovation in Advanced Development and
Manufacturing (CIADM), and drug product at its Camden facility.
About Coronavirus
A new strain of coronavirus 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 spread from animals to humans and include diseases
such as Middle East Respiratory Syndrome (MERS) and SARS in
addition to COVID-19. While much remains unknown about the new
coronavirus, it is known that the virus can spread via
human-to-human transmission before any symptoms appear.
About Matrix-M™
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.
About CEPI
CEPI is an innovative partnership between
public, private, philanthropic, and civil organizations, launched
at Davos in 2017, to develop vaccines to stop future epidemics.
CEPI has reached over US$750 million of its $1 billion funding
target. CEPI’s priority diseases include Ebola virus, Lassa virus,
Middle East Respiratory Syndrome coronavirus, Nipah virus, Rift
Valley Fever and Chikungunya virus. CEPI also invests in platform
technologies that can be used for rapid vaccine and
immunoprophylactic development against unknown pathogens (e.g.
2019-nCoV). To date, CEPI has committed to investing over $456
million in vaccine and platform development. Learn more at
www.cepi.net.
About Novavax
Novavax, 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.
NanoFlu™, its quadrivalent influenza nanoparticle vaccine, is
currently in a pivotal Phase 3 clinical trial to address key
factors that can lead to the poor effectiveness of currently
approved flu vaccines. ResVax™, its RSV vaccine for infants via
maternal immunization, is the only vaccine to demonstrate efficacy
in a Phase 3 clinical trial. Novavax recently initiated development
of a vaccine program against COVID-19. Novavax is a leading
innovator of recombinant vaccines; its proprietary recombinant
technology platform combines the power and speed of genetic
engineering to efficiently produce a new class of highly
immunogenic nanoparticles addressing urgent global health
needs.
For more information, visit www.novavax.com and
connect with us on Twitter and LinkedIn.
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, 2018, and Quarterly Report on Form
10-Q for the period ended September 30, 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 uncertainties.
Contacts:
InvestorsNovavax, Inc.Erika
Trahanir@novavax.com240-268-2022
WestwickeJohn
Woolfordjohn.woolford@westwicke.com443-213-0506
MediaBrandzone/KOGS CommunicationEdna
Kaplankaplan@kogspr.com617-974-8659
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