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NOVAVAX Featured at Clinton Global Initiative 2008 Annual Meeting

Company recognized for pursuit of cost-effective and rapidly deployed

vaccine solution for avian and seasonal flu

ROCKVILLE, Md., Sept. 29 /PRNewswire-FirstCall/ -- Novavax, Inc. (Nasdaq: NVAX) announced today its recognition at the annual meeting of the Clinton Global Initiative ("CGI") for developing affordable methods of producing an H5N1 avian influenza vaccine and a seasonal influenza vaccine using the company's proprietary recombinant virus-like particles ("VLPs"). As one of the organizations chosen to attend the CGI this year, Novavax is working to create novel vaccines and manufacturing solutions for producing avian and seasonal influenza vaccines with portable equipment that can be deployed worldwide.

The company believes its vaccine initiatives have the potential to impact millions of people affected by infectious diseases each year by creating novel vaccines that can be produced in a cost effective and timely manner within the same scalable manufacturing platform worldwide.

Novavax's manufacturing process makes it possible to rapidly produce an influenza vaccine that contains strains that are an exact genetic match to the strains circulating in the country or region causing influenza disease. Novavax's influenza VLPs are produced through recombinant technology in insect cell culture, utilizing a manufacturing process that will consist entirely of disposable, ready-to-use equipment. Current yields are 7 to 10 times higher than those of traditional egg-based or mammalian cell culture manufacturing. Because the Novavax process involves recombinant technology and does not require a live influenza virus, a matched vaccine for avian or seasonal influenza can be manufactured within 12 weeks of identification by the Centers for Disease Control and Prevention, which is approximately half the time required to manufacture egg-based vaccines.

Novavax has developed a VLP based vaccine candidate against H5N1 avian influenza that has completed a Phase IIa clinical trial. The study demonstrated that the VLP vaccine is well tolerated and immunogenic and can be produced rapidly to supply vaccine against an emerging pandemic strain. The company has also commenced a Phase II trial in healthy adults for its seasonal influenza vaccine candidate.

About the Clinton Global Initiative (CGI)

Established in 2005 as a project of the non-partisan William J. Clinton Foundation, the Clinton Global Initiative (CGI) convenes global leaders to devise and implement innovative solutions to some of the world's most pressing challenges. Since 2005, CGI members have made nearly 1,000 Commitments to Action valued at upwards of $30 billion to improve more than 200 million lives in over 150 countries around the world. Through past Annual Meetings, CGI has brought together more than 80 current and former heads of state, hundreds of top CEOs and nonprofit leaders, major philanthropists, and 10 of the last 16 Nobel Peace Prize laureates.

About Novavax

Novavax, Inc. is a clinical stage biotechnology company, creating novel vaccines to address a broad range of infectious diseases worldwide using advanced proprietary virus-like particle (VLP) technology. The Company produces these VLP based, potent, recombinant vaccines utilizing new, and efficient manufacturing approaches. Additional information about Novavax is available at and in the Company's various filings with the Securities and Exchange Commission.

Forward-Looking Statement

Statements herein relating to future development results and performance, conditions or strategies and other matters, including expectations regarding product and clinical developments, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Novavax cautions that 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 from the results discussed in the forward-looking statements or historical experience include risks relating to the early stage of Novavax's product candidates under development; current results may not be predictive of future pandemic results, results of our seasonal influenza vaccine or any other vaccine that we may develop; further testing is required before regulatory approval can be applied for and the FDA may not approve a vaccine even if further trial results are similar to those disclosed previously by the company; uncertainties relating to clinical trials; dependence on the efforts of third parties; competition for clinical resources and patient enrollment from drug candidates in development by other companies with greater resources and visibility; and risks that we may lack the financial resources and access to capital to fund our operations including further clinical trials. Further information on the factors and 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 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.
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