PRESS RELEASE

PRESS RELEASE

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NOVAVAX to Present Results From Phase I RSV Study at XIV International Symposium on Respiratory Viral Infections

ROCKVILLE, Md., March 22, 2012 (GLOBE NEWSWIRE) -- Novavax, Inc. (Nasdaq:NVAX) announced today that Louis F. Fries III, M.D., its Vice President, Clinical and Medical Affairs, will present results from the company's Phase I clinical trial of its recombinant nanoparticle vaccine candidate against respiratory syncytial virus (RSV) on March 24 and 26, 2012 at the XIV International Symposium on Respiratory Viral Infections in Istanbul, Turkey.

Dr. Fries will discuss results from the blinded, placebo-controlled, escalating-dose trial in separate poster and oral presentations at the conference. In October 2011, Novavax reported interim results from this trial which were consistent with preclinical studies and showed that the vaccine was well-tolerated, highly immunogenic and produced functional antibodies that neutralized RSV.

Dr. Fries stated: "These presentations provide Novavax with the opportunity to report on our Phase I safety and immunogenicity data to an audience of international experts in respiratory viral infections and vaccines. We will discuss the short-term and six month safety of the RSV nanoparticle vaccine in young adults. We will also describe the immunogenicity of our RSV vaccine, as measured by virus neutralization activity, and other immune evaluations that may be associated with protection against RSV. RSV is the most important viral respiratory disease of children globally and a cause of significant morbidity and mortality in the elderly. There is a clear need for an RSV vaccine for these age groups. The data from this trial are very encouraging, and suggest that the RSV nanoparticle vaccine has potential to elicit the level and type of immunity required to protect humans."

Later this year, Novavax expects to initiate two separate dose-ranging Phase II trials of its RSV vaccine candidate in the elderly and in women of child-bearing age. These separate trials will be conducted with, and without, an adjuvant and will provide both safety and immunogenicity results in these different age populations.

About Novavax

Novavax, Inc. (Nasdaq:NVAX) is a clinical-stage biopharmaceutical company creating novel vaccines to address a broad range of infectious diseases worldwide. Using innovative virus-like particle (VLP) and recombinant nanoparticle vaccine 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 and LG Life Sciences of Korea. Together, these companies have worldwide commercialization capacity and 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.

Forward-Looking Statements

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, 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.

CONTACT: Frederick W. Driscoll
         VP, Chief Financial Officer and Treasurer
         Novavax, Inc.
         240-268-2000
Novavax, Inc.