Press Release

Novavax Head of Pharmaceutical Development to Present on Micellar Nanoparticle Technology at Particles 2006 Meeting

May 10, 2006 at 7:02 AM EDT

MALVERN, Pa., May 10 /PRNewswire-FirstCall/ -- Novavax, Inc. (Nasdaq: NVAX) today announced that Robert Lee, Ph.D., Vice President - Pharmaceutical Development, is scheduled to present at the Particles 2006 Conference on Tuesday, May 16, 2006 at 3:30 p.m. EDT at the Wyndham Orlando Resort in Orlando, Florida. Dr. Lee will describe the latest developments regarding Novavax's proprietary Micellar Nanoparticle (MNP) drug delivery technology. MNPs are nanoemulsion formulations for topical or transdermal drug delivery that look and feel like cosmetic lotions. MNP technology creates functional depots of drug in skin that can reduce the required number of doses and/or the amount of each dose when compared with current topical formulations. Because it can incorporate a much broader spectrum of active pharmaceutical ingredients, MNP technology allows the formulation of drugs that previously would not be conducive to transdermal delivery. "I am pleased to be a presenter at this conference and would like to thank Dr. John Texter, General Chair of the conference, for his invitation to participate in this meeting," said Dr. Lee.

According to the Particles 2006 web site (, "Particles 2006 is an international conference examining the science, technology, and business aspects of medical/biochemical diagnostic, pharmaceutical, and drug delivery applications of particle technology. Symposia will address diverse topics including nanoparticles, hydrogels, chemical and drug delivery, controlled release, suspensions, inhalation, liposomes, micelles & microemulsions, characterization, gene delivery, chemical and biochemical diagnostics, separations, surface modification, critical and supercritical fluid applications, spray drying, emulsions, and multiple emulsions. The conference targets practicing scientists, clinical research physicians, engineers, managers, innovators, and entrepreneurs, and embraces the theme 'particles for detection and treatment.'"

More About Novavax's Micellar Nanoparticles

MNPs represent a composite vehicle that presents the active pharmaceutical ingredient in a variety of fractions: aqueous or hydro-alcoholic solution, micellar solubilized form, oil fraction and as surface-stabilized micro-/nano- crystals. This formulation approach creates a microreservoir-dissolution- controlled system that is capable of incorporating both water-soluble and water-insoluble active pharmaceutical ingredients and delivering them either topically (skin being the target tissue) or transdermally (systemic delivery). Additionally, MNP technology is being evaluated for other routes of administration.

About Novavax, Inc.

Novavax is focused on creating differentiated, value-added pharmaceutical and vaccine products and technologies. The company's technology platforms include the virus-like particle (VLP) manufacturing technology utilizing the baculovirus expression system in insect cells, as well as novel vaccine adjuvants based on Novasomes(R), non-phospholipid vesicles and dendrimer technologies. The company is developing a pandemic flu vaccine against H5N1, H9N2 and other avian influenza viruses and a seasonal flu vaccine against human influenza strains using its VLP and Novasome adjuvant technologies. 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(R). In addition to MNP, Novavax drug delivery technologies include Novasomes(R) and Sterisomes(R), solvent and oil free emulsions for subcutaneous depot injection. The company has several products utilizing the MNP technology in various stages of development.

Forward-Looking Statements

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; 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, 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

SOURCE Novavax, Inc.

CONTACT: Cheryl Marley of Novavax, +1-484-913-1202,