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Novavax Announces Strategic Alliance on Pandemic Influenza Vaccine
Production Technologies

MALVERN, Pa., Sept. 13 -- Novavax, Inc.
(Nasdaq: NVAX) and Wave Biotech, LLC located in Somerset, NJ, today
jointly
announced that they will collaborate on the development of a
commercial scale
production process for Novavax's pandemic influenza virus (avian
flu) vaccine
and other biological products. Initially, the companies will focus
on
Novavax's H9N2 avian flu Virus-Like Particle (VLP) vaccine that has
shown
promising results in preclinical studies.
Wave Biotech will provide process and equipment expertise for the
proprietary technology based on disposable equipment for the
manufacture of
biologicals. Novavax scientists will work with the engineering team
at Wave
Biotech to further develop the process for the manufacture of
vaccines and
other biological products.
"We are very pleased to be able to work with Wave Biotech as we
proceed to
expand the production of our pandemic and seasonal flu vaccine
candidates. The
process is reliable and can be readily scaled up to meet the needs
of large
populations," said Dr. Rahul Singhvi, President and CEO of
Novavax. "We have
experienced excellent results to-date with Wave Biotech's equipment
in the
production of influenza as well as HIV/AIDS, SARS, and other VLP
vaccines for
human diseases. A manufacturing strategy based on Wave Biotech's
technology
combined with our recombinant DNA based approach to vaccine
production should
enable us to rapidly respond to demand. In addition, this new
technology
allows us to go into commercial scale manufacturing with lower
capital
investment than with traditional production methods for vaccines."
"Wave Biotech's disposable cell culture technology is ideal for
the
Novavax application," commented Dr. Vijay Singh, President of Wave
Biotech.
"It provides scalable technology that can be delivered, installed and
commissioned quickly for possible worldwide use."

About Virus-Like Particle (VLP) Technology
Novavax's VLP vaccine approach uses recombinant DNA technology
to create
components of the influenza virus in structures optimized to elicit a
protective immune response. The three dimensional virus like
structures are
designed to give protection without the risk of infection and
without the
addition of chemical adjuvants. Novavax's proprietary process
produces
vaccines aseptically, reduces contamination risk and leads to high,
cost-effective yields.

About Wave Biotech's Disposable Manufacturing Technology
Wave Biotech is a research-based company that develops and
manufactures
innovative process equipment for the pharmaceutical and biotechnology
industry. The Company's focus is on developing disposable bioprocess
equipment
for operations traditionally requiring stainless-steel tanks and
piping. Key
products, such as the Wave Bioreactor(R), Wave Mixer(R), FlexMixer
(TM) and
Sterile Tube Fuser, feature disposable contact materials that
eliminate
cleaning and validation, thereby reducing costs in operations
ranging from
cell culture, media preparation, buffer dissolution and thawing
process
intermediates to patient-specific cell therapy in hospitals. These
unique,
patented, devices can be installed and commissioned rapidly,
drastically
reducing the time-to-market for biological products. Wave Biotech's
equipment
is in use with hundreds of companies worldwide, both for R&D, as
well as
commercial applications.

About Novavax, Inc.
Novavax, Inc. is a specialty biopharmaceutical company focused
on the
research, development and commercialization of products utilizing its
proprietary drug delivery and biological technologies for large and
growing
markets. Novavax currently distributes a line of prescription
pharmaceutical
products, including its topical emulsion for estrogen therapy
ESTRASORB, and
prenatal vitamins.

Statements made in this press release that state Novavax's or
management's
intentions, hopes, beliefs, expectations, or predictions of the
future are
forward-looking statements. Forward-looking statements include but
are not
limited to statements regarding usage of cash, product sales, future
product
development and related clinical trials and future research and
development,
including FDA approval. Novavax's actual results could differ
materially from
those expressed in such forward-looking statements. Such forward-
looking
statements involve known and unknown risks, uncertainties and other
factors
which may cause the actual results, performance or achievements of
the
Company, or industry results, to be materially different from those
expressed
or implied by such forward-looking statements. Such factors
include, among
other things, the following: general economic and business
conditions; ability
to enter into future collaborations with industry partners,
including an
ESTRASORB(R) licensing agreement; competition; unexpected changes in
technologies and technological advances; ability to obtain rights to
technology; ability to obtain and enforce patents; ability to
commercialize
and manufacture products; ability to establish and maintain
commercial-scale
manufacturing capabilities; results of clinical studies; progress of
research
and development activities; business abilities and judgment of
personnel;
availability of qualified personnel; changes in, or failure to
comply with,
governmental regulations; the ability to obtain adequate financing
in the
future through product licensing, co-promotional arrangements,
public or
private equity financing or otherwise; and other factors referenced
herein.
Additional information is contained in Novavax's annual report on
Form 10K for
the year ended December 31, 2004 and quarterly reports on Form 10Q
for the
quarters ended March 31, 2005 and June 30, 2005, incorporated herein
by
reference. Statements made herein should be read in conjunction with
Novavax's
annual and quarterly reports filed with the SEC. Copies of these
filings may
be obtained by contacting Novavax at 508 Lapp Road, Malvern, PA 19355
Tel 484-913-1200 or the SEC at http://www.sec.gov.

SOURCE Novavax, Inc.

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