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PRESS RELEASE

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Novavax's Head Of Vaccine Research To Participate In WHO Meeting To Develop Global Action Plan For Pandemic Influenza

MALVERN, Pa., May 1, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Novavax, Inc. (Nasdaq: NVAX) today announced that its Vice President of Vaccine Research, Dr. Rick Bright, will participate in the World Health Organization (WHO) meeting for the development of a global action plan for increasing pandemic vaccine supply to develop a plan to alleviate the global shortage of pandemic influenza vaccines. Dr. Bright will join leading scientists, industry, and public health experts from around the world at the meeting, to be held this week at WHO headquarters in Geneva, Switzerland.

"I am extremely pleased to have been invited to participate in this important meeting," Dr. Bright said. "A dialogue between researchers, industry, and public health experts is the best way to develop an approach to protect people around the world from the potentially debilitating effects of influenza." Dr. Bright has more than 15 years of experience as a researcher and is an expert on influenza vaccine and antiviral research, one of a handful of such experts in the world. Prior to joining Novavax in February, 2006, he served at the Centers for Disease Control (CDC) and Prevention in Atlanta, GA.

Representatives from national immunization programs, regulatory authorities, and vaccine manufacturers from both industrialized as well as developing countries also will participate in the meeting. More information on the meeting can be obtained from the WHO website at http://www.who.int/csr/disease/influenza/vaccinesconsult2006/en/index.html

At the meeting, Dr. Bright will focus on research and development approaches toward developing a vaccine that would be effective in a pandemic setting. This includes the evaluation of novel influenza vaccine and adjuvant approaches to broaden immune responses and new methods of determining protective immunity raised by vaccines. Dr. Bright and his group's recommendations will be included in a global plan that addresses the 58th World Health Assembly's request for solutions to reduce the current worldwide shortage vaccines for both seasonal and pandemic influenza.

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 www.sec.gov.

SOURCE Novavax, Inc.

Cheryl Marley of Novavax, Inc., +1-1-484-913-1202,
or cmarley@novavax.com

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