Novavax's VLP Influenza Vaccine Named One of Top 100 Drugs in Development Today
ROCKVILLE, Md., April 5, 2011 /PRNewswire via COMTEX/ --
Novavax, Inc. (NASDAQ: NVAX) announced that its virus-like particle (VLP) influenza vaccine has been named by the editors of R&D Directions magazine as one of the top "100 great investigational drugs in development" today. In its tenth annual list of promising clinical compounds, R&D Directions cited Novavax's virus-like-particle technology as a promising new approach to producing vaccines to prevent seasonal, H1N1 and avian influenza. The list reflects the current interests of industry observers and analysts and is described in the magazine's March 2011 issue.
"We are honored to be recognized by editors and analysts who follow the pharmaceutical industry and gratified by their interest in our technology and vaccine candidates," said Dr. Rahul Singhvi, President and CEO of Novavax. "Our recent BARDA contract award and new partnership with LG Life Sciences demonstrate the progress we are making and reflect the potential of our technology to revolutionize the development and production of influenza vaccines. It is a very exciting time for our company and we appreciate this recognition of our work to prevent the spread of infectious diseases around the world."
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 VLP technology and single-use bioprocessing system enables rapid vaccine development and production where and when it's 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 the ongoing development of its VLP vaccine products, including references to Novavax contracts with HHS BARDA or LG Life Sciences, 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 include: the Company has not yet manufactured, or relied on third parties to manufacture, any vaccines at a commercial scale; historical and current results may not be predictive of future trial results for the seasonal influenza vaccine or any other vaccine candidate; further testing is required before regulatory approval can be applied for and the FDA may not approve a vaccine even if the results are similar or better than the results reported to date; HHS BARDA may or may not award any option period funding to Novavax; and additional factors, many of which are outside the company's control. 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, and Novavax assumes no duty to update forward-looking statements.
SOURCE Novavax, Inc.