Novavax Named Biotechnology Firm of the Year by Tech Council of Maryland
ROCKVILLE, Md., May 11, 2011 /PRNewswire via COMTEX/ --
Novavax, Inc. (Nasdaq: NVAX) has been named Biotechnology Firm of the Year by the Tech Council of Maryland (TCM), the largest technology trade group serving the advanced technology and biotechnology communities of Maryland. Novavax was recognized as the firm that best exemplifies the spirit of the Maryland biotechnology community and for its presence and leadership in Maryland.
The criteria for selection as biotechnology firm of the year include achieving significant and measurable success, contributing to the advancement of biosciences through cutting-edge research and development, executing a successful growth strategy, and helping to foster a vibrant biotech community.
Stanley Erck, President and Chief Executive Officer of Novavax, stated: "We are honored to be recognized by the Tech Council of Maryland for our work to develop innovative vaccines to prevent the spread of infectious diseases worldwide. We have made substantial clinical and corporate progress in the past year and are now in a very strong position to pursue the development of vaccines derived from our unique virus-like particle technology. My colleagues and I are particularly grateful to the Maryland biotechnology community, including state and county officials, for their strong support of our efforts."
Novavax, Inc. (Nasdaq: NVAX), a clinical-stage biopharmaceutical company, employs its cutting-edge technology to create next-generation vaccines to prevent serious infectious diseases, such as pandemic and seasonal influenza and respiratory syncytial virus (RSV). The company's proprietary virus-like-particle (VLP) technology and single-use bioprocessing system enable rapid vaccine development and production where and when they are needed, worldwide. The company has formed a joint venture with Cadila Pharmaceuticals, named CPL Biologicals, to develop and manufacture vaccines, biological therapeutics and diagnostics in India. Additional information about Novavax is available on the company's website: www.novavax.com.
Forward Looking Statements
Statements herein relating to Novavax and its ongoing development of its VLP 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, 2010, 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.
SOURCE Novavax, Inc.