Novavax and Government of Canada Finalize Advance Purchase Agreement for COVID-19 Vaccine
January 22 2021 - 05:22PM
Novavax, Inc. (Nasdaq: NVAX), a late-stage biotechnology company
developing next-generation vaccines for serious infectious
diseases, today announced that it has finalized an agreement with
the Government of Canada to supply up to 76 million doses of
NVX-CoV2373, the company’s recombinant protein-based COVID-19
vaccine. Canada has committed to purchase 52 million doses of the
vaccine with the option for up to an additional 24 million doses.
NVX-CoV2373 is currently in Phase 3 clinical development for the
prevention of COVID-19.
“We thank the Government of Canada for their
confidence in our program and ongoing partnership in the regulatory
review and delivery of a safe, effective COVID-19 vaccine for the
citizens of Canada,” said John J. Trizzino, Chief Commercial
Officer and Chief Business Officer, Novavax. “Novavax is proud to
play our part in working tirelessly together with governments,
scientists, regulators and others in the global effort to put an
end to the pandemic.”
The company expects to supply NVX-CoV2373 to
Canada beginning as early as the second quarter of 2021, following
authorization by Canada’s regulatory agency.
Novavax is currently conducting three efficacy,
safety and immunogenicity studies of NVX-CoV2373 and expects to
announce initial efficacy results as early as the first quarter of
2021.
About NVX-CoV2373
NVX-CoV2373 is a protein-based 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 is adjuvanted with
Novavax’ patented saponin-based Matrix-M™ to enhance the immune
response and stimulate high levels of neutralizing antibodies.
NVX-CoV2373 contains purified protein antigen and can neither
replicate, nor can it cause COVID-19. In preclinical studies,
NVX-CoV2373 induced antibodies that block binding of spike protein
to cellular receptors and provided protection from infection and
disease. It was generally well-tolerated and elicited robust
antibody response numerically superior to that seen in human
convalescent sera in Phase 1/2 clinical testing. NVX-CoV2373 is
currently being evaluated in two pivotal Phase 3 trials: a trial in
the U.K that completed enrollment in November and the
PREVENT-19 trial in the U.S. and Mexico that
began in December. It is also being tested in two ongoing Phase 2
studies that began in August: A Phase 2b trial in South
Africa, and a Phase 1/2 continuation in
the U.S. and Australia.
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 NovavaxNovavax,
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. The Company’s proprietary recombinant
technology platform combines the power and speed of genetic
engineering to efficiently produce highly immunogenic nanoparticles
designed to address urgent global health needs. Novavax is
conducting late-stage 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 and will be advanced for regulatory submission. Both vaccine
candidates incorporate Novavax’ proprietary saponin-based Matrix-M™
adjuvant to enhance the immune response and stimulate high levels
of neutralizing antibodies.
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 September 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:
Investors
Erika Trahan
ir@novavax.com
240-268-2022
Media
Edna Kaplan
media@novavax.com
617-974-8659
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