Healthcare Industry News: flu vaccine
News Release - May 11, 2006
Novavax Strengthens Vaccine Development Team with Two New AppointmentsDr. Jinyou Zhang Appointed as Senior Director of Bioprocess R & D
Dr. Niranjan Kumar Appointed as Senior Director of Commercial Manufacturing
MALVERN, Pa., May 11 (HSMN NewsFeed) -- Novavax, Inc. (Nasdaq: NVAX ) today announced the appointments of two senior biopharmaceutical scientists to augment the company's research and development and manufacturing capabilities. Dr. Jinyou Zhang, formerly senior investigator at Merck & Co., will serve as senior director of bioprocess R & D. Dr. Niranjan Kumar, who most recently was a deputy director at Sanofi Pasteur, has been named senior director of commercial manufacturing.
Dr. Kumar brings over 17 years of global biopharmaceutical experience in R & D, quality assurance, quality control, manufacturing, and regulatory compliance from leading vaccine manufacturers including Sanofi Pasteur, Wyeth, Lederle Vaccines & Pediatrics and Merck & Co. He has combined his work experience with academic research at the State University of New York at Buffalo. At Sanofi Pasteur, Dr. Kumar led cross-functional teams in manufacturing, quality control, method improvement and reengineering, assay transfer, and quality operations. Dr. Kumar successfully led a Six Sigma Black Belt project to reduce variability and waste while increasing process yields for Sanofi's influenza vaccine manufacturing.
Commenting on these appointments, Novavax President and Chief Executive Dr. Rahul Singhvi said, "Recruiting top-notch talent and enhancing our vaccine development capability is important to our mission of successfully developing the virus-like particle based H5N1 pandemic and seasonal influenza vaccines. Drs. Zhang and Kumar bring world class capability to Novavax -- they are both proven leaders in their respective fields and are tireless problem solvers. We are delighted that they have chosen to join us at Novavax."
About Novavax, Inc.
Novavax is focused on creating differentiated, value-added pharmaceutical and vaccine products and technologies. The company's technology platforms include the virus-like particle (VLP) manufacturing technology utilizing the baculovirus expression system in insect cells, as well as novel vaccine adjuvants based on Novasomes®, non-phospholipid vesicles and dendrimer technologies. The company is developing a pandemic flu vaccine against H5N1, H9N2 and other avian influenza viruses and a seasonal flu vaccine against human influenza strains using its VLP and Novasome adjuvant technologies. Novavax's drug delivery technologies include the micellar nanoparticle (MNP) technology which is the basis for the development of its first FDA-approved product, ESTRASORB®. In addition to MNP, Novavax drug delivery technologies include Novasomes® and Sterisomes®, solvent and oil free emulsions for subcutaneous depot injection. The company has several products utilizing the MNP technology in various stages of development.
Forward Looking Statements
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; 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, 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 www.sec.gov.
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