COVAX Facility Buys 1.45 Billion Vaccines For Global Equitable Access

Novavax, Inc. today announced that it had finalized an advance purchase agreement (APA) with Gavi, the Vaccine Alliance (Gavi), for the Novavax COVID-19 Vaccine.

Under the new APA, Novavax is expected to manufacture and distribute 350 million vaccine doses of NVX-CoV2373 to countries participating under the COVAX Facility. NVX-CoV2373 is a protein-based vaccine candidate engineered from the genetic sequence of SARS-CoV-2, the coronavirus that causes COVID-19 disease.

Under the APA, Novavax expects to deliver doses with antigen and adjuvant manufactured at facilities directly funded by the $400 million investment Novavax received from the Coalition for Epidemic Preparedness Innovations.

Under a separate APA with Gavi, the Serum Institute of India is expected to manufacture and deliver the balance of the 1.1 billion doses of the Novavax COVID-19 vaccine.

Stanley C. Erck, President, and CEO, Novavax, commented in a press release issued on May 6, 2021, "This arrangement is the culmination of a collaboration among CEPI, Gavi, Serum Institute, and Novavax, who are partnering in our urgent mission to deliver significant amounts of vaccines to all countries, regardless of income level."

Gaithersburg-based Novavax, Inc. (Nasdaq: NVAX) is a biotechnology company that promotes improved health globally by discovering, developing, and commercializing innovative vaccines to prevent serious infectious diseases.