PRESS RELEASE

PRESS RELEASE

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Novavax Announces Conference Call

MALVERN, Pa., Oct. 18 /PRNewswire-FirstCall/ -- Novavax, Inc. (Nasdaq: NVAX) a specialty biopharmaceutical company, today announced the Company will hold a conference call tomorrow morning at 10 am (EST) to discuss a significant transaction on the Company's primary product, ESTRASORB(R). The call will be hosted by Mr. Gary C. Evans, Chairman of the Board, Dr. Rahul Singhvi, President and CEO, and Mr. Ray Hage, Senior Vice President and Chief Operating Officer to discuss the ESTRASORB Licensing Agreement announced today which will be followed by a question and answer session. Also participating on the call from Esprit Pharma will be Andrew J. Einhorn, EVP and Chief Financial Officer, and Lou Berardi, EVP of Business Development. The dial-in number for the conference call is 1 (800) 706-7748 pass code 36718556.

A live audio webcast of the conference call will be available through http://www.novavax.com. Please connect to this website at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be needed to hear the webcast. A replay of the webcast will be available for 90 days starting on October 19th, 2005 at http://www.novavax.com. A replay of the conference call will also be available by telephone on October 19, 2005 through October 26, 2005. To access the replay, dial 1 (888) 286-8010 and enter pass code 37589208.

About Novavax, Inc.

Novavax, Inc. is a product development company focused on the research, development and commercialization of products utilizing its proprietary drug delivery and biological technologies for large and growing markets. Novavax's drug delivery technologies include the Micellar Nanoparticle (MNP) technology which is the basis for the development of its first FDA approved product, ESTRASORB. In addition to MNP, Novavax drug delivery technologies include Novasomes (paucillamellar non-phospholipid liposomes) and Sterisome technologies. Novavax's vaccine technologies include virus like particle manufacturing technology utilizing the baculovirus expression system in insect cells as well as novel vaccine adjuvants based on novasomes and dendrimer technologies.

Statements made in this press release that state Novavax's or management's intentions, hopes, beliefs, expectations, or predictions of the future are forward-looking statements. Forward-looking statements include but are not limited to statements regarding usage of cash, product sales, future product development and related clinical trials and future research and development, including FDA approval. Novavax's actual results could differ materially from those expressed in such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from those expressed or implied by such forward-looking statements. Such factors include, among other things, the following: general economic and business conditions; ability to enter into future collaborations with industry partners, including an ESTRASORB(R) licensing agreement; competition; unexpected changes in technologies and technological advances; ability to obtain rights to technology; ability to obtain and enforce patents; ability to commercialize and manufacture products; ability to establish and maintain commercial-scale manufacturing capabilities; results of clinical studies; progress of research and development activities; business abilities and judgment of personnel; availability of qualified personnel; changes in, or failure to comply with, governmental regulations; the ability to obtain adequate financing in the future through product licensing, co-promotional arrangements, public or private equity financing or otherwise; and other factors referenced herein. Additional information is contained in Novavax's annual report on Form 10K for the year ended December 31, 2004 and quarterly reports on Form 10Q for the quarters ended March 31, 2005 and June 30, 2005, incorporated herein by reference. Statements made herein should be read in conjunction with Novavax's annual and quarterly reports filed with the SEC. Copies of these filings may be obtained by contacting Novavax at 508 Lapp Road, Malvern, PA 19355 Tel 484- 913-1200 or the SEC at http://www.sec.gov.

SOURCE Novavax, Inc.
CONTACT: Investor Relations: Kathy Hamilton, Novavax, Inc.,
+1-484-913-1213,
Email: KHamilton@novavax.com