NOVAVAX Announces Positive Clinical Results from First Stage of Pivotal Study of 2009 A/H1N1 VLP Pandemic Influenza Vaccine in Mexico

-- Independent Data Safety Monitoring Board (DSMB) concludes that Novavax's 2009 H1N1 VLP pandemic influenza vaccine is well-tolerated and induces robust immune responses with a single injection at all dose levels tested

-- Stage B enrollment completed with over 3,500 volunteers in the trial

News provided by

Novavax, Inc.

Mar 24, 2010, 08:00 ET

ROCKVILLE, Md., March 24 /PRNewswire-FirstCall/ -- Novavax, Inc. (Nasdaq: NVAX) announced today positive results from the entire 1,000 subject Stage A of its two-stage pivotal study evaluating the safety and immunogenicity of Novavax's unadjuvanted 2009 A/H1N1 virus-like particle (VLP) pandemic influenza vaccine. The data showed that safety and immunogenicity of the vaccine were consistent with preliminary results disclosed earlier from the first 500 volunteers of Stage A where the vaccine was found to be well tolerated and immunogenic at all three dose levels tested. Novavax is conducting this study in collaboration with Avimex Laboratories of Mexico to support registration of the vaccine in Mexico and potentially other countries. The study is being conducted at the Mexican Institute of Social Security (IMSS), which is the largest medical and research center in Latin America.

The Stage A part of the pivotal trial is a randomized, double-blind, placebo-controlled study in which 1,000 healthy volunteers aged 18 to 64 years old were evaluated to determine the safety, tolerability and immunogenicity of the vaccine. All volunteers were vaccinated with two doses of either 5 mcg, 15 mcg or 45 mcg of Novavax's 2009 A/H1N1 VLP pandemic influenza vaccine or a placebo. The DSMB reviewed the safety and immunogenicity data from 1,000 healthy volunteers. Serological results from the 1,000 subjects 14 days after the first injection of Novavax's 2009 A/H1N1 VLP pandemic influenza vaccine showed that the vaccine at all three dose levels of 5 mcg, 15 mcg or 45 mcg induced robust immune responses that are considered protective. The vaccine was well tolerated at all three dose levels and exhibited no systemic side effects and mostly mild local site reactions, similar to placebo. These data confirmed that a single dose of 15 mcg was optimal to induce robust immune responses in broader age populations with a highly satisfactory safety profile.

"The success of Novavax's 2009 H1N1 VLP pandemic influenza vaccine in the Mexico pivotal study clearly demonstrates the desirable tolerability and immunogenicity profile of our vaccine candidate in the largest clinical trial conducted by the Company to date. We are highly encouraged by these results as the data meet the immunogenicity criteria of both the United States and European regulatory authorities. These data enable potential emergency use of the vaccine in pandemic situations and could be supportive in other countries in addition to Mexico. Based on these positive data, we have filed for regulatory approval of our H1N1 VLP pandemic influenza vaccine candidate in Mexico," said Dr. Rahul Singhvi, President and Chief Executive Officer of Novavax. "The substantial safety dataset and strong immunogenicity signal from this large study provide us confidence as we plan Phase III studies of our seasonal trivalent influenza VLP vaccine, pending results from the ongoing Phase IIa trial in older volunteers and discussions with the U.S. Food and Drug Administration (FDA)."

Earlier this month, Novavax completed enrollment of a cohort of over 3,500 volunteers in Stage B of this pivotal study. Over 2,500 of these volunteers received a single 15 mcg injection of Novavax's unadjuvanted 2009 A/H1N1 VLP pandemic influenza vaccine while 1,000 of the volunteers received a placebo. The purpose of Stage B portion of this clinical study was to evaluate safety of the VLP vaccine.

About VLPs

Virus-like particles (VLPs) mimic the external structure of viruses but lack the live genetic material that causes viral replication and infection. VLPs can be designed quickly to match individual viral strains and be produced efficiently using portable cell-culture technology. Novavax's VLP-based vaccine candidates are produced more rapidly than egg-based vaccines by using proprietary, portable, recombinant cell-culture technology.

About Novavax

Novavax, Inc. 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 potent VLP-based recombinant vaccines utilizing new and efficient manufacturing approaches. Novavax is committed to using its VLP technology to create country-specific vaccine solutions. 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 clinical trials and development of the 2009 H1N1 and seasonal vaccines, the potential use of any data from clinical trials in Mexico and other countries, including the U.S., are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. 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 include full and complete clinical trial results, which may not be sufficient for regulatory approval in Mexico or may indicate safety concerns not yet encountered; even if the results reported today or other final and complete results of the clinical trial are positive, the data may not be accepted by regulatory bodies in the U.S. or other countries; the 2009 H1N1 vaccine may not be approved by the Mexican government or additional clinical trials may be required; even if approved by the Mexican government, sales of the 2009 H1N1 vaccine may be poor because there is currently an over supply of H1N1 vaccine; our vaccines have not been manufactured at commercial levels and unanticipated costs and delays during the scale-up process could occur; the 2009 H1N1 vaccine must be manufactured quickly, or it may not be available for sale in Mexico until after the 2009/2010 influenza season has ended even if approved; our ability to progress the seasonal product into Phase III clinical studies; and the scope, initiation, rate and progress of such Phase III or any other clinical study. Further information on 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.