ROCKVILLE, Md., March 8, 2013 (GLOBE NEWSWIRE) -- Novavax, Inc.(Nasdaq:NVAX) today announced that its collaboration to develop a novel malaria vaccine in India has been honored by the Vaccine World Summit India 2013 conference for having the "Most Promising Vaccine for Emerging Diseases in India." This competitive award recognized the progress made by Novavax, Cadila Pharmaceuticals Ltd. Biologicals (CPLB) and the International Centre for Genetic Engineering and Biotechnology (ICGEB) to develop a new and effective malaria vaccine. It was one of five inaugural awards honoring achievements in India's vaccine industry.
The Novavax/CPLB/ICGEB collaboration was established in 2012 to combine the advanced vaccine technology of Novavax with the malaria vaccine research capabilities of ICGEB and vaccine manufacturing capability of CPLB. The project is being funded by India'sDepartment of Biotechnology Vaccine Grand Challenge Program and managed by the Malaria Vaccine Development Program, a New Delhi-based not-for-profit organization established to support the development of malaria vaccines.
"The technology from Novavax has allowed us to explore a novel delivery platform to develop malaria vaccines and the initial results from pre-clinical studies are exciting" said Professor Virander S. Chauhan, Director, ICGEB.
"We thank our industry peers for honoring this important work and congratulate our colleagues in India for their outstanding progress toward the development of an effective malaria vaccine," said Stanley C. Erck, President and CEO of Novavax. "Malaria remains a major public health problem in many parts of the tropical world and we are committed to identifying a safe and effective vaccine that can prevent its spread and devastating effects."
Novavax, Inc. (Nasdaq:NVAX) is a clinical-stage biopharmaceutical company creating vaccines to address a broad range of infectious diseases worldwide. Using innovative recombinant nanoparticle technology, as well as new and efficient manufacturing approaches, the company produces vaccine candidates to combat diseases, with the goal of allowing countries to better prepare for and more effectively respond to rapidly spreading infections. Novavax is committed to using its technology platforms to create geographic-specific vaccine solutions and is therefore involved in several international partnerships, including collaborations with Cadila Pharmaceuticals of India, LG Life Sciences of Korea and PATH. Together, these organizations support Novavax' worldwide commercialization strategy and have the global reach to create real and lasting change in the biopharmaceutical field. Additional information about Novavax is available on the company's website, www.novavax.com.
About International Centre for Genetic Engineering and Biotechnology (ICGEB)
ICGEB (www.icgeb.org) provides a scientific and educational environment of the highest standard and conducts innovative research in life sciences for the benefit of developing countries. With Components in Trieste, Italy, New Delhi, India and Cape Town, South Africa, the Centre forms an interactive network with Affiliated Centres in ICGEB Member States. The ICGEB New Delhi Component conducts basic and translational research on infectious diseases including malaria, tuberculosis, HIV, dengue, influenza, hepatitis E and hepatitis B as well as on agriculture related problems relevant to developing countries.
CPL Biologicals Pvt. Ltd., a joint-venture biotechnology company established by Novavax Inc. and Cadila Pharmaceuticals, one of the largest privately held pharmaceutical companies in India based in Ahmedabad, manufactures VLP influenza vaccines developed by Novavax. CPLB has a state-of-the-art manufacturing facility that is capable of producing a significant volume of novel vaccine doses every year. This facility utilizes the single-use vaccine bioprocessing system used by Novavax at its pilot plant in Rockville, Maryland.
About Malaria Vaccine Development Program (MVDP)
MVDP, a not-for-profit research society based in Delhi, India, was established in 2010 to provide support to academic research institutes in their efforts to undertake translational activities for development of malaria vaccines. MVDP promotes public-private partnerships for development of malaria vaccines and provides managerial and translational expertise to support such efforts.
About Department of Biotechnology (DBT)
DBT, Government of India promotes and supports research and development in the area of biotechnology in India. DBT provides funding for basic and translational research in diverse areas of the life sciences with the goal of finding solutions to problems in areas such as health, agriculture, bio-energy and environment. DBT promotes biotechnology industry in India and encourages public-private partnerships for the development of technological solutions.
Statements herein relating to the future of Novavax and its ongoing development of its vaccine 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, 2012, and filed with the Securities and Exchange Commission. 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 www.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.
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