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PRESS RELEASE

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Novavax to Present at BIO 2006 Chicago Annual International Convention

MALVERN, Pa., April 10, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Novavax, Inc. (Nasdaq: NVAX) today announced that Dr. Rahul Singhvi, President and Chief Executive Officer, is scheduled to present at BIO 2006, the Annual International Convention of the Biotechnology Industry Organization, on April 11, 2006 at 2:30 p.m. CDT at the McCormick Place Convention Center located in Chicago, Illinois. Dr. Singhvi will present a case study on Novavax's potential pandemic virus-like particle (VLP) flu vaccine initiative; a new vaccine platform to address the urgent need for a potential pandemic flu outbreak.

     -- Results of pre-clinical studies with an avian influenza (pandemic)
        H9N2 candidate VLP vaccine
     -- Novasomes(R) - a safe, patented adjuvant to help address the need for
        antigen sparing
     -- Rapid, disposable, scalable manufacturing process to meet vaccine
        needs for pandemic flu
     -- Comparison of Novavax' VLP technology with other vaccine approaches

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.

About BIO 2006

BIO 2006 will draw 18,000 life science professionals from around the world to network and learn about the future of the industry through an expansive exhibit hall and a series of thought-provoking, educational programs. Sponsored by the Biotechnology Industry Organization (BIO), the 14th annual international convention will continue to take place through April 12, 2006 at Chicago's McCormick Place Convention Center.

BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and 31 other nations. BIO members are involved in the research and development of healthcare, agricultural, industrial and environmental biotechnology products.

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 http://www.sec.gov.

SOURCE Novavax, Inc.

Kathy Hamilton, Novavax Investor Relations, +1-484-913-1213,
Email: khamilton@novavax.com

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