ROCKVILLE, Md., Sept. 12 /PRNewswire-FirstCall/ -- Novavax, Inc. announced today that several candidates have emerged from an ongoing discovery program to create a novel vaccine for preventing disease associated with the Varicella Zoster Virus (VZV) in older adults. These candidates have met certain significant scientific criteria established by the Company and are now targeted for pre-clinical development.
Varicella Zoster Virus (VZV) causes herpes zoster, or shingles, which is a skin rash often with painful blisters, and is the same virus that causes chickenpox. Anyone who has had chickenpox can develop shingles because VZV remains dormant in the nerve cells and may re-emerge many years later causing the illness. Shingles may affect any age group but occurs most frequently in adults 60 years of age and older and the immunocompromised. The illness is common, resulting in over one million cases in the United States each year. The primary complication of shingles includes acute pain, called post-herpetic neuralgia (PHN), and occurs in approximately 65% of affected patients. Shingles-associated pain may last months, or even years, and can have a negative impact on quality of life. It is also associated with high rates of hospitalization in older adults. The Advisory Committee on Immunization Practices ("ACIP"), a federal body of immunization experts, currently recommends vaccination for all individuals 60 years of age or older. The potential world-wide market for a VZV vaccine in older adults is estimated to exceed $1 billion annually with currently only one product on the market.
"We believe VZV is a strategic target for Novavax to pursue because of our expertise in infectious disease and our proprietary vaccine and manufacturing technologies," said Dr. Rahul Singhvi, Novavax's President and CEO. "Consistent with our strategy to expand our vaccine pipeline, this new program addresses a significant unmet medical need and represents an important opportunity to enhance shareholder value."
About Novavax
Novavax Inc. is committed to leading the global fight against infectious disease by creating novel, highly potent vaccines that are safer and more effective than current preventive options. Using the company's proprietary virus-like particle (VLP) and Novasome(R) adjuvant technologies, Novavax is developing vaccines to protect against H5N1 pandemic influenza, seasonal flu and other viral diseases. Novavax's particulate vaccines closely match disease-causing viruses while lacking the genetic material to cause disease, which provides potential for greater immune protection at lower doses than current vaccines. With an exclusive portable manufacturing system that allows for rapid mass-production of vaccines, Novavax is uniquely positioned to meet global public health needs.
Forward-Looking Statements
Statements herein relating to future financial or business performance, conditions or strategies and other financial and business matters, including expectations regarding product sales, operating expenses, 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 and uncertainties, including the failure by Novavax to secure and maintain relationships with collaborators; risks relating to the early stage of Novavax's product candidates under development; uncertainties relating to preclinical assessments and studies; dependence on the efforts of third parties; dependence on intellectual property; competition from other companies with greater resources and visibility, and risks that we may lack the financial resources and access to capital to fund our operations. 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 http://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.
Novavax, Inc.CONTACT: Tricia Richardson of Novavax, Inc., +1-240-268-2031
Web site: http://www.novavax.com/
