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Novavax Appoints New Vice President of Vaccine Research

MALVERN, Pa., Feb. 2 /PRNewswire-FirstCall/ -- Novavax, Inc. (Nasdaq: NVAX) today announced the appointment of Rick A. Bright, Ph. D. to the newly created position of Vice President, Vaccine Research. Dr. Bright will report directly to Dr. Rahul Singhvi, President and CEO of Novavax.

"We are delighted to welcome Dr. Rick Bright to lead our Company's very active vaccine research division," said Rahul Singhvi, President and CEO of Novavax. "As a world-class immunologist, he complements our existing vaccine leadership team consisting of Drs. Gale Smith, Steve Bandak and Craig Wright. Rick's arrival at Novavax bolsters our efforts to develop a vaccine to fight against a pandemic influenza and his decision is a further endorsement of our virus-like particle (VLP) vaccine and Novasome(R) adjuvant technologies for developing such a vaccine."

Dr. Bright, age 40, joins Novavax following more than 15 years' experience as a researcher and expert on influenza vaccine and antiviral research, one of a handful of such experts in the world. Most recently he has served at the Centers for Disease Control (CDC) and Prevention in Atlanta, GA. Dr. Bright worked in the Influenza Branch, Strain Surveillance Section, as Immunologist and Virologist, Team Leader of the Antiviral Drug Program where he published landmark papers on influenza antiviral drug resistance that led the CDC to recommend against the use of two drugs for treatment of influenza infection. Some of his recent work was rated in the top 10 infectious disease papers of 2005. Previously, Dr. Bright held the position of Senior Research Scientist and Project Manager, Vaccine and Immunology Programs at Altea Therapeutics, a biotech startup company in Atlanta, GA, directing the development of a new generation of vaccines and improved delivery methods for vaccines.

From 1990 to 2002, Dr. Bright held various immunology and research positions at the CDC and other research centers. Dr. Bright is on the cutting edge of modern scientific research on influenza. His areas of expertise have primarily included studies on pathogenicity and vaccine development for avian H5N1 influenza viruses since the first human outbreak in 1997.

Dr. Bright received a Ph.D. in Immunology and Molecular and Viral Pathogenesis, from the Division of Biological and Biomedical Sciences, School of Medicine, from Emory University and B.Sc.'s in both Biology and Physical Science from Auburn University-Montgomery. He is the author or co-author of 12 research articles, eight manuscripts in preparation and one patent. Dr. Bright is affiliated with the American Biological Safety Association, American Immunological Association, American Association for the Advancement of Science, American Society of Virology, and the American Society of Microbiology. He is also certified in Biosafety Level (BSL) 3+ high containment laboratories and animal facilities, and has active federal security clearance for select agent pathogens, including highly pathogenic avian influenza viruses.

Dr. Bright added, "At the CDC, I was fortunate to be part of an excellent and dedicated team of scientists working to combat the scourge of a potential pandemic resulting from avian influenza. During this effort, I had the opportunity to assess multiple vaccine and anti-viral approaches to control and treat influenza. Novavax's recombinant VLP vaccine approach has the potential to rapidly create effective vaccines against emerging human and avian strains of influenza. In addition, this approach provides the flexibility to incorporate the latest discoveries in immunology to truly create best in class vaccines against a multitude of diseases. By joining Novavax and its strong scientific team, I hope to realize my vision of creating an effective and practicable vaccine against pandemic and seasonal influenza."

About Novavax, Inc.

Novavax, Inc. is a product development company focused on the research, development and commercialization of products utilizing its proprietary drug delivery and biological technologies for large and growing markets. 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(R) (paucillamellar non-phospholipid liposomes) and Sterisomes(R) (subcutaneous depot injection). Novavax's vaccine technologies include its virus-like particle (VLP) manufacturing technology utilizing the baculovirus expression system in insect cells, as well as novel vaccine adjuvants based on Novasomes and dendrimer technologies.

Forward-Looking Statements

Statements made in this press release that state Novavax's or its management's intentions, hopes, beliefs, expectations, or predictions 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 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 10-K for the year ended December 31, 2004 and quarterly reports on Form 10-Q for the quarters ended March 31, 2005, June 30, 2005 and September 30, 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 http://www.sec.gov.

SOURCE Novavax, Inc.

CONTACT: Kathy Hamilton, Investor Relations, Novavax, Inc., +1-484-913-1213,
KHamilton@novavax.com


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