Novavax, Inc. Enters into an Advanced Purchase Agreement with the Commonwealth of Australia as Represented by the Department of Health
January 07, 2021 at 10:22 pm
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On December 31, 2020, Novavax, Inc. entered into an advanced purchase agreement with The Commonwealth of Australia as represented by the Department of Health (the Customer) under which the Customer agreed to purchase 51 million doses of NVX-CoV2373, the company’s vaccine candidate for the SARS-CoV-2 virus (the Vaccine) solely for the purpose of vaccinating individuals in Australia (and, subject to certain conditions, for donation or resale to countries and organizations outside Australia), plus such additional orders as the Customer may make from time to time, up to a maximum aggregate additional 10 million doses. The company will use commercially reasonable efforts to obtain regulatory approval for the Vaccine from the Therapeutic Goods Administration in Australia, and the Customer will reasonably support the Company with obtaining such regulatory approval. If such regulatory approval is obtained, as soon as practicable thereafter, the Company intends to commence delivering monthly shipments of the Vaccine to the Customer until the aggregate amount of doses under the Australia Agreement has been provided. The Customer may cancel deliveries of the Vaccine following any actual or expected failure by the Company to meet the required levels of supply that has not been timely remedied pursuant to the terms of the Australia Agreement. The Customer may donate or resell doses of the Vaccine to other countries and organizations, subject to certain limitations set forth in the Australia Agreement, including that the purpose of such donation or resale is to vaccinate individuals against SARS-CoV-2.
Novavax, Inc. is a biotechnology company, which discovers, develops and commercializes vaccines to prevent serious infectious diseases. The Company offers a differentiated vaccine platform that combines a recombinant protein approach, advanced nanoparticle technology and its patented Matrix-M adjuvant to enhance the immune response. It has one commercial program, for vaccines to prevent COVID-19, which includes Nuvaxovid prototype COVID-19 vaccine (NVX-CoV2373 or prototype vaccine) and Nuvaxovid updated COVID-19 vaccine (NVX-CoV2601 or updated vaccine) (collectively, COVID-19 Vaccine). The Company is advancing the development of other vaccine candidates, including its COVID19-Influenza Combination (CIC) vaccine candidate and additional vaccine candidates. Its COVID-19 Vaccine and its other vaccine candidates incorporate the Companyâs proprietary Matrix-M adjuvant to enhance the immune response and stimulate higher levels of functional antibodies and induce a cellular immune response.