PRESS RELEASE

PRESS RELEASE

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NOVAVAX Named to Fast Company's Top Ten Most Innovative Biotech Companies List
ROCKVILLE, Md., Feb 18, 2010 /PRNewswire via COMTEX/ -- Novavax, Inc. (Nasdaq: NVAX) today announced that Fast Company has placed Novavax as one of the Top Ten Most Innovative Companies in the Biotech industry. In its selection, Fast Company's editorial team analyzed information on thousands of businesses across the globe. They noted that it was not just about revenue growth and profit margins that Fast Company endeavored to identify, it was also about creative models and progressive cultures -- to define the many forms of innovation that exist across the business landscape. This recognition will appear in both the March 2010 issue of Fast Company magazine and also on the Fast Company website.

"It was invigorating to engage with so many exciting new ideas and developments," said Fast Company editor Robert Safian. "Our goal was to offer a snapshot of the creativity at work in the global marketplace and to inspire the Fast Company audience with illustrations of how powerful and effective business can be."

Rahul Singhvi, President and Chief Executive Officer of Novavax said, "Novavax is honored to have our innovative technology and manufacturing approaches recognized by Fast Company. Novavax believes its vaccine initiatives have the potential to impact millions of people affected by infectious diseases each year by creating novel vaccines that can be produced in a cost effective and timely manner within the same scalable platform worldwide."

About Novavax

Novavax, Inc.is a clinical-stage biotechnology company creating novel vaccines to address a broad range of infectious diseases worldwide, including H1N1, using advanced proprietary virus-like-particle (VLP) technology. The company produces potent VLP-based recombinant vaccines utilizing new and efficient manufacturing approaches. Novavax is committed to using its VLP technology to create country-specific vaccine solutions. 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 Statement

Statements herein relating to future financial or business performance, conditions or strategies and other financial and business matters, including expectations regarding revenues, operating expenses, cash burn, and clinical developments and anticipated milestones are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Novavax cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include, among other things, the following: our ability to progress any product candidates into pre-clinical or clinical trials; the scope, initiation, rate and progress of our preclinical studies and clinical trials and other research and development activities; clinical trial results; even if the data from preclinical studies or clinical trials is positive, the product may not prove to be safe and efficacious; regulatory approval is needed before any vaccines can be sold in or outside the United States and, to date, no governmental authority has approved any of our vaccine candidates for sale; influenza is seasonal in nature, and if approval or commercial launch after approval is not timely in relation to the flu season, we may not be able to manufacture or sell our influenza vaccines on terms favorable to us until the next flu season, if at all; we have not manufactured any of our vaccine candidates at a commercial level and have only recently engaged a third party manufacturer to assist in commercial manufacturing efforts; we utilize a unique manufacturing process and the scale-up of that process may prove difficult and costly; our pilot plant facility is subject to standard FDA inspections, which may result in increased costs and production delays; the success of our joint ventures, collaborations, partnerships and licensing agreements; our dependence on third parties to manufacture and distribute its vaccines; risks associated with conducting business outside of the United States; the cost of filing, prosecuting, defending and enforcing any patent claims and other intellectual property rights; our ability to obtain rights to technology; competition for clinical resources and patient enrollment from drug candidates in development by other companies with greater resources and visibility; our ability to enter into future collaborations with industry partners and the terms, timing and success of any such collaboration; the cost, timing and success of regulatory filings and approvals; our ability to obtain adequate financing in the future through product licensing, co-promotional arrangements, public or private equity or debt financing or otherwise; general business conditions; competition; business abilities and judgment of personnel; loss of key management and availability of qualified personnel; and other factors referenced herein. Further information on the factors and risks that could affect Novavax's business, financial conditions and results of operations, is contained in Novavax's filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov. These forward-looking statements speak only as of the date of this press release.

SOURCE Novavax, Inc.