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news.Specialty pharmaceutical company Novavax has received a three-year contract, worth over $1 million, from the US National Institutes of Health to develop a SARS vaccine using its proprietary technology. Shares in the company have risen almost 4% on the news.
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Novavax’ virus like particle (VLP) technology uses recombinant protein technology to imitate the structure of a virus to provide protection without the risk of infection or disease. Unlike traditional vaccine production technology which uses and egg based process, Novavax’ technology uses insect cells.
“The SARS vaccine project extends our vaccine technology into another important emerging disease indication. Our proprietary virus like particle (VLP) technology and its clinical advantages, are gaining acceptance among vaccine experts as an alternative to traditional vaccine technology,” said Nelson Sims, president and CEO of Novavax. “The vaccine program will be an important contributor to the value of Novavax’ development pipeline.”
Novavax also performs research and development services on traditional vaccines including tolerogen proteins as a preventative therapy for the inflammation-causing immune responses believed to contribute to stroke and cardiovascular disease.
In December 2004, the company announced the receipt of another National Institutes of Health (NIH) contract, for E-selectin tolerogen in patients at risk for secondary stroke.