Novavax and Canada Reach Agreement in Principle to Acquire Novavax’ COVID-19 Vaccine
August 31 2020 - 7:55AM
Novavax, Inc. (Nasdaq: NVAX), a late stage biotechnology company
developing next-generation vaccines for serious infectious
diseases, today announced it has reached an agreement in principle
with the Government of Canada to supply up to 76 million doses of
NVX-CoV2373, Novavax’ COVID-19 vaccine.
“We are pleased to work with the Canadian
government on supply of our COVID-19 vaccine, an essential step to
ensure broad access of our vaccine candidate,” said Stanley C.
Erck, President and Chief Executive Officer of Novavax. “We are
moving forward with clinical development of NVX-CoV2373 with a
strong sense of urgency in our quest to deliver a vaccine to
protect the world.”
“We are pleased to announce this agreement with
Novavax, which will give Canadians access to a promising COVID-19
vaccine candidate. This is an important step in our government’s
efforts to secure a vaccine to keep Canadians safe and healthy, as
the global pandemic evolves,” said The Honourable Anita Anand,
Minister of Public Services and Procurement, Government of
Canada.
Novavax and Canada expect to finalize an advance
purchase agreement under which Novavax will supply doses of
NVX-CoV2373 to Canada beginning as early as the second quarter of
2021. This purchase arrangement will be subject to licensure of the
Novavax vaccine by Health Canada.
NVX-CoV2373 is currently in multiple Phase 2
clinical trials. The Phase 2 portion of the Phase 1/2 clinical
trial to evaluate the safety and immunogenicity of NVX-CoV2373
began in August in the United States and Australia, and expands on
the age range of the Phase 1 portion by including older adults
60-84 years of age as approximately 50 percent of the trial
population. Secondary objectives include preliminary evaluation of
efficacy. In addition, a Phase 2b clinical trial to assess efficacy
began in South Africa in August.
About NVX-CoV2373
NVX‑CoV2373 is a vaccine candidate engineered
from the genetic sequence of SARS‑CoV‑2, the virus that causes
COVID-19 disease. NVX‑CoV2373 was created using Novavax’
recombinant nanoparticle technology to generate antigen derived
from the coronavirus spike (S) protein and contains Novavax’
patented saponin-based Matrix-M™ adjuvant to enhance the immune
response and stimulate high levels of neutralizing antibodies. In
preclinical trials, NVX‑CoV2373 demonstrated indication of
antibodies that block binding of spike protein to receptors
targeted by the virus, a critical aspect for effective vaccine
protection. In its Phase 1 data of the Phase 1/2 clinical trial,
NVX‑CoV2373 was generally well-tolerated and elicited robust
antibody responses numerically superior to that seen in human
convalescent sera. Phase 2 clinical trials began in August. Novavax
has secured $2 billion in funding for its global
coronavirus vaccine program, including up to $388 million in
funding from the Coalition for Epidemic Preparedness Innovations
(CEPI).
About Matrix-M™
Novavax’ patented saponin-based Matrix-M™
adjuvant has demonstrated a potent and well-tolerated effect by
stimulating the entry of antigen-presenting cells into the
injection site and enhancing antigen presentation in local lymph
nodes, boosting immune response.
About Novavax
Novavax, Inc. (Nasdaq:NVAX) is a late-stage
biotechnology company that promotes improved health globally
through the discovery, development, and commercialization of
innovative vaccines to prevent serious infectious diseases. Novavax
is undergoing clinical trials for NVX-CoV2373, its vaccine
candidate against SARS-CoV-2, the virus that causes COVID-19.
NanoFlu™, its quadrivalent influenza nanoparticle vaccine, met all
primary objectives in its pivotal Phase 3 clinical trial in older
adults. Both vaccine candidates incorporate Novavax’ proprietary
saponin-based Matrix-M™ adjuvant in order to enhance the immune
response and stimulate high levels of neutralizing antibodies.
Novavax is a leading innovator of recombinant vaccines; its
proprietary recombinant technology platform combines the power and
speed of genetic engineering to efficiently produce highly
immunogenic nanoparticles in order to address urgent global health
needs.
For more information, visit www.novavax.com and
connect with us on Twitter and LinkedIn.
Novavax Forward-Looking
Statements
Statements herein relating to the future of
Novavax and the ongoing development of its vaccine and adjuvant
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, 2019, and Quarterly Report on Form
10-Q for the period ended June 30, 2020, as filed with the
Securities and Exchange Commission (SEC). We caution investors not
to place considerable reliance on forward-looking statements
contained in this press release. You are encouraged to read our
filings with the SEC, available at 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.
Contacts:
Novavax
InvestorsSilvia Taylor and Erika
Trahanir@novavax.com240-268-2022
MediaBrandzone/Speak Life ScienceAmy Speak
amy@speaklifescence.com617-420-2461
Novavax (NASDAQ:NVAX)
Historical Stock Chart
From Apr 2024 to May 2024
Novavax (NASDAQ:NVAX)
Historical Stock Chart
From May 2023 to May 2024