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Novavax Finalizes Deal With Australia For 51 Mln Doses Of COVID-19 Vaccine

Novavax Inc. (NVAX) said that it has executed an advance purchase agreement with the Commonwealth of Australia for 51 million doses of the company's COVID-19 vaccine. It follows an agreement in principle that was announced in November 2020. Additional terms of the agreement were not disclosed.

NVX-CoV2373, Novavax' COVID-19 vaccine candidate, is a recombinant protein vaccine adjuvanted with Novavax' proprietary Matrix-M to enhance the immune response.

Novavax is currently conducting late-stage clinical studies to demonstrate the efficacy, safety and immunogenicity of NVX-CoV2373 for the prevention of COVID-19.

It includes two large pivotal Phase 3 clinical trials in the United States/Mexico and in the United Kingdom, as well as a Phase 2b trial in South Africa.

Novavax said it will work with Australia's regulatory agency, the Therapeutics Goods Administration (TGA), to obtain product approvals upon demonstrating efficacy in clinical studies. The company aims to deliver initial doses by mid-2021.

As part of the agreement, Australia will have the option to purchase up to an additional 10 million doses.

In late-December, Novavax began a late-stage trial of its COVID-19 vaccine candidate NVX-CoV2373 in the U.S. The drug maker had delayed the trial twice due to issues in scaling up the manufacturing process.

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