Novavax and Gavi Execute Advance Purchase Agreement for COVID-19 Vaccine for COVAX Facility
AsiaNet 89399
GAITHERSBURG, Md., May 7, 2021 /PRNewswire=KYODO JBN/ --
-- Novavax to deliver 350 million doses beginning Q3 2021
-- 1.1 billion doses of Novavax vaccine to be available to countries
participating in COVAX
-- Serum Institute of India to provide balance of doses for LMICs
-- Underscores commitment to global equitable access to Novavax vaccine
GAITHERSBURG, Md., May 7, 2021 /PRNewswire-AsiaNet/ --
Novavax, Inc. (Nasdaq: NVAX), a biotechnology company developing
next-generation vaccines for serious infectious diseases, today announced that
it has finalized an advance purchase agreement (APA) with Gavi, the Vaccine
Alliance (Gavi) for supply of its recombinant protein-based COVID-19 vaccine
candidate to the COVAX Facility. Under the APA, Novavax is expected to
manufacture and distribute 350 million doses of NVX-CoV2373 to countries
participating under the COVAX Facility, which was established to allocate and
distribute vaccines equitably to participating countries and economies. Under a
separate purchase agreement with Gavi, the Serum Institute of India (Serum
Institute) is expected to manufacture and deliver the balance of the 1.1
billion doses of Novavax' vaccine.
"This is a tremendous opportunity to partner with global organizations focused
on accelerating equitable access to safe and effective COVID-19 vaccines,
particularly in countries where vaccination rates are currently low," said
Stanley C. Erck, President and Chief Executive Officer, Novavax. "This
arrangement is the culmination of a collaboration among CEPI, Gavi, Serum
Institute and Novavax, who are partnering in our urgent mission to deliver
significant amounts of vaccines to all countries, regardless of income level.
Novavax thanks CEPI for its longstanding support and tireless work with Gavi as
the curators of the COVAX Facility."
Under the APA, Novavax expects to deliver doses with antigen and adjuvant
manufactured at facilities directly funded by the investments Novavax received
from the Coalition for Epidemic Preparedness Innovations (CEPI). CEPI invested
nearly $400 million in Novavax in the spring of 2020 to advance preclinical and
early clinical development, manufacturing scale-up, technology transfer, and
manufacturing capacity reservation for NVX-CoV2373.
"CEPI's investments to accelerate the clinical development and manufacturing of
this vaccine candidate have been critical to enabling equitable access to the
vaccine through COVAX," said Dr. Richard Hatchett, CEO of CEPI. "With this
agreement in place, the Novavax vaccine candidate will play a vital role in our
mission to protect those most at risk from COVID-19, wherever they are in the
world."
"Today's agreement with Novavax marks a major step towards COVAX's objective of
building the world's largest and most diverse portfolio of COVID-19 vaccines,
and a major step towards our goal of delivering 2 billion doses of safe and
effective vaccines in 2021," said Dr Seth Berkley, CEO of Gavi. "Novavax'
commitment not only to support COVAX directly, but also through technology
transfer via other manufacturers, shines a light on the end-to-end nature of
COVAX and the kind of collaboration needed to bring this pandemic under
control."
Together, Novavax and Serum Institute expect to initiate delivery of the
cumulative 1.1 billion doses in the third quarter of 2021, pending receipt of
appropriate regulatory authorizations. Under the APA, Novavax will receive an
upfront payment from Gavi later this month and an additional payment after it
secures Emergency Use Listing for its vaccine by the WHO. In addition, Novavax
has agreed to provide additional doses in the event that Serum Institute cannot
materially deliver expected vaccine doses to the COVAX Facility.
Vaccine dose allocation will be determined by Gavi across the AMC-eligible and
self-financing participants under a tiered pricing schedule.
"CEPI's early support served as a catapult for Novavax to create a global
supply network that we expect could provide a significant percent of the
world's vaccine supply via COVAX," Erck continued. "We look forward to the
ongoing collaboration with Serum Institute to deliver on our manufacturing
capacity and to working with WHO to secure authorization as rapidly as possible
for NVX-CoV2373."
About the COVAX Facility
The COVAX Facility is a global risk-sharing mechanism for pooled procurement
and equitable distribution of COVID-19 vaccines that currently includes more
than 190 participating economies, designed and administered by Gavi, the
Vaccine Alliance. It is part of COVAX, co-led by CEPI, Gavi and the World
Health Organization (WHO), which are working in partnership with developed and
developing country vaccine manufacturers, UNICEF, PAHO, the World Bank, civil
society organizations and others to guarantee fair and equitable access to the
vaccine.
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(TM) 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 blocked the binding of
spike protein to cellular receptors and provided protection from infection and
disease. It was generally well-tolerated and elicited robust antibody response
in Phase 1/2 clinical testing.
NVX-CoV2373 is being evaluated in two pivotal Phase 3 trials, a trial in the
U.K. that demonstrated 100% protection against severe disease, efficacy of
96.4% against the original virus strain and 89.7% overall, and the PREVENT-19
trial in the U.S. and Mexico that began in December 2020. It is also being
tested in two ongoing Phase 2 studies that began in August 2020: A Phase 2b
trial in South Africa that demonstrated 100% protection against severe disease
and 48.6% efficacy against a newly emerging escape variant, and a Phase 1/2
continuation in the U.S. and Australia.
NVX-CoV2373 is stored and stable at 2°- 8°C, allowing the use of existing
vaccine supply chain channels for its distribution. It is packaged in a
ready-to-use liquid formulation in 10-dose vials.
About Matrix-M(TM)
Novavax' patented saponin-based Matrix-M(TM) 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 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(TM), 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(TM) 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 (
https://twitter.com/novavax ) 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, 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
www.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
Novavax, Inc.
Erika Schultz | +1-240-268-2022
ir@novavax.com
Solebury Trout
Alexandra Roy | +1-617-221-9197
aroy@soleburytrout.com
Novavax Media
Laura Keenan | +1-202-709-7521
media@novavax.com
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SOURCE: Novavax, Inc.
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