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Bill Colantuoni

Novavax, Inc. (Nasdaq: NVAX) is a clinical-stage biotechnology company, creating novel vaccines to address a broad range of infectious diseases worldwide, including H1N1, using advanced proprietary virus-like particle (VLP) technology. The Company produces these VLP based, potent, recombinant vaccines utilizing new and efficient manufacturing approaches. VLP Technology is one of the fastest methods for creating a vaccine, which is expected to successfully target the unmet market need for swine flu vaccine and other vaccines.

By using this technology, a virus like particle (VLP) is made, which is structurally similar to the targeted virus (the live, disease-causing virus, against which a vaccine is being made) but does not contain the particular genetic information of the virus that is necessary for the viral replication process. When the VLP is injected into the body, it enters the human cells, just like a natural live virus. Since the VLPs look like the live virus, the immune system recognizes them as foreign, becomes activated and starts acting against them. Once the immune system gets exposed to and activated against a dummy virus (the VLP) it is able to recognize the real virus if there’s ever any future contact and mounts a strong attack against it at that time. Since, the VLPs resemble the live disease-causing virus, the immune system (which has been already exposed to the VLP) easily recognizes them as foreign and launches a powerful attack, when the actual live virus attacks the body.

Since, the VLP does not contain any genetic information necessary for the viral replication process, the dummy virus cannot replicate itself in the body so it does not pose any threat of infection to the person being vaccinated.

Additionally, Novavax develops vaccines against the H1N1, H5N1 and other subtypes of avian influenza with pandemic potential, human seasonal influenza, and Respiratory Syncytial Virus, as well as Varicella Zoster that causes shingles. On June 30, 2009 Novavax announced its initial agreement to license its proprietary, recombinant virus-like-particle (VLP) vaccine technology to ROVI Pharmaceuticals (Madrid: ROVI) of Spain. ROVI will use the VLP technology to create a comprehensive influenza vaccine solution for the Spanish government under a new 60 million-euro program sponsored and led by the Spanish Ministry of Health and other government groups to develop pandemic and seasonal flu vaccines and establish its only in-border facility. This program, which was announced on June 30 by Spanish health officials, is being launched to develop safe and effective flu vaccines to serve the entire population of Spain. Under separate agreements that are in the process of being negotiated by both companies, ROVI will receive exclusive licenses to Novavax's portable VLP vaccine technology to commercialize flu vaccines in Spain and Portugal, and non-exclusive licenses in Europe, Latin America and Africa.

The company has a joint venture with Cadila Pharmaceuticals Ltd. to develop and commercialize seasonal influenza virus-like-particle-based vaccine candidates and therapeutic vaccine candidates against cancer, as well as adjuvants, biogeneric products, and other diagnostic products for the territory of India.

In March 2007, the Company secured additional intellectual property through the licensing of additional VLP technology through a license agreement with the University of Massachusetts using their proprietary paramyxoviruses as a core for building VLP vaccines. In July 2007, the Company entered into a non-exclusive license agreement with Wyeth Holdings Corporation to obtain rights to a family of patent applications covering VLP technology for use in human vaccines in certain fields of use.

On December 10, 2007 GE Healthcare, a unit of General Electric Company (NYSE: GE), and Novavax announced a collaboration agreement to develop and market a pandemic influenza vaccine manufacturing solution for selected international countries. This collaboration leverages GE Healthcare’s bioprocess solutions and design expertise and Novavax’s virus-like particle (VLP) and manufacturing platform.

In addition, the company with government funding has focused on developing its VLP technology into vaccines for the prevention of HIV-1/AIDS and SARS. It has developed vaccines to prevent hepatitis caused by the Hepatitis E Virus, in collaboration with National Institute of Allergy and Infectious Disease; Walter Reed Army Institute for Research; GlaxoSmithKline Pharmaceuticals; and General Electric. The company was founded in 1987 and is headquartered in Rockville, Maryland.