Novavax Announces Progress on Sanofi Agreement

- Novavax, Inc. (Nasdaq: NVAX) today announced progress on its collaboration and license agreement (CLA) with Sanofi regarding Novavax's Matrix-M ® adjuvant. The companies have amended their CLA to expand Sanofi's license to include use of Novavax's Matrix-M adjuvant in Sanofi's pandemic influenza vaccine candidate program. Sanofi recently received funding from the Biomedical Advanced Research and Development Authority within the Administration for Strategic Preparedness and Response, part of the U.S. Department of Health and Human Services, for early-stage work on this vaccine candidate including the Matrix-M adjuvant under Contract 75A50122D00003.

The CLA amendment enables Sanofi's use of Matrix-M in early-stage development of Sanofi's pandemic influenza vaccine candidate(s) through Phase 2. If Sanofi enters Phase 3 clinical development, the parties will negotiate license rates and financial terms.

"We're excited that Sanofi has recognized the potential of a pandemic influenza vaccine candidate that contains Novavax's validated Matrix-M ^® adjuvant," said John C. Jacobs , President and Chief Executive Officer, Novavax. "We're pleased to deepen our partnership with leading vaccine innovator, Sanofi, and to share our technology in support of U.S. pandemic preparedness efforts with the goal of potentially saving millions of lives."

The amendment broadens the partnership between Novavax and Sanofi and adds to the terms of the original agreement that specifies that Novavax is eligible to receive up to $200 million for the first four products created by Sanofi utilizing its Matrix-M adjuvant, and up to $210 million in milestone payments for each product including Matrix-M thereafter, plus ongoing royalties for all Sanofi products utilizing Matrix-M. Sanofi is currently exploring additional opportunities with Matrix-M.

About Matrix-M ^® Adjuvant
Matrix-M is Novavax's proprietary adjuvant that can be added to a vaccine to stimulate a stronger immune response and is currently used in globally approved vaccines. It is clinically proven to induce potent, durable and broad immune responses with an acceptable safety and tolerability profile. ¹ The Company's recombinant, protein-based nanoparticles are combined with its Matrix-M adjuvant, constituting the basis of Novavax's expanding pipeline.

About Novavax
Novavax, Inc. (Nasdaq: NVAX) tackles some of the world's most pressing health challenges with its scientific expertise in vaccines and its proven technology platform, including protein-based nanoparticles and its Matrix-M adjuvant. The Company's growth strategy seeks to optimize its existing partnerships and expand access to its proven technology platform via research and development innovation, organic portfolio expansion in infectious disease and beyond, and forging new partnerships and collaborations with other companies. Please visit novavax.com and LinkedIn for more information.

Forward-Looking Statements
Statements herein relating to the future of Novavax, its operating plans and prospects, the efficacy, safety and intended utilization of Novavax's COVID-19 vaccine, the possible receipt of potential milestone payments or  tiered royalties from vaccine sales, the immunogenic response of its vaccine technology against variant strains and the scope, are forward-looking statements. Novavax cautions that these forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation, challenges or delays related to the requested postmarketing commitment; antigenic drift or shift in the SARS-CoV-2 spike protein, challenges satisfying, alone or together with partners, various safety, efficacy and product characterization requirements, including those related to process qualification and assay validation, necessary to satisfy applicable regulatory authorities; difficulty obtaining scarce raw materials and supplies; resource constraints, including human capital and manufacturing capacity, on the ability of Novavax to pursue planned regulatory pathways; challenges or delays in obtaining regulatory authorization for a JN.1 protein-based COVID-19 vaccine or for future COVID-19 variant strain changes; challenges or delays in clinical trials; manufacturing, distribution or export delays or challenges; Novavax's exclusive dependence on Serum Institute of India Pvt. Ltd. for co-formulation and filling and the impact of any delays or disruptions in their operations on the delivery of customer orders; and those other risk factors identified in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Novavax's Annual Report on Form 10-K for the year ended December 31, 2024 , as updated by the information identified in the "Risk Factors" section in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 , each as filed with the Securities and Exchange Commission (SEC). We caution investors not to place considerable reliance on forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov and www.novavax.com , for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of the statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors and others should give careful consideration to these risks and uncertainties.

Contacts:

Investors
Luis Sanay , CFA
240-268-2022
ir@novavax.com

Media
Giovanna Chandler
(844) 264-8571
media@novavax.com

References
1. Stertman L. et al.; The Matrix-M™ adjuvant: A critical component of vaccines for the 21st century. Hum Vaccin Immunother. 2023 Dec 31;19(1):2189885. doi: 10.1080/21645515.2023.2189885.

View original content to download multimedia: https://www.prnewswire.com/news-releases/novavax-announces-progress-on-sanofi-agreement-302570921.html

SOURCE Novavax, Inc.