Novavax Inc. (NASDAQ:NVAX) Enters COVID-19 Vaccine Supply Deals With the EU and New Zealand

Novavax Inc. (NASDAQ:NVAX) has announced the signing of an Advanced Purchase Agreement with the New Zealand government to deliver 10.7 million doses of its COVID-19 vaccine, NVX-CoV2373. The vaccine is a recombinant protein vaccine adjuvanted with the company’s novel Matrix-M™ to boost immune response.

Novavax to deliver the vaccine to New Zealand

According to the terms of the agreement, the company will produce NVX-CoV2373 and aims to deliver the doses by mid-2021. Novavax will work with Medsafe, New Zealand’s regulatory agency for approvals. Considering the urgency for approval and delivery of vaccines due to the pandemic, the regulatory process might leverage review by other regulatory bodies such as the EMA, the US FDA, and the Medicines and Healthcare Products Regulatory Authority of the UK. The company is currently testing the vaccine in a third phase study in the UK.

Novavax’s CEO, Stanley Erck said that considering the global reach of the pandemic, there is a need to have an adequate vaccine supply to protect people globally. He added that they are delighted to work with the New Zealand government to ensure New Zealanders access the vaccine via standard distribution channels once it receives approval.

Novavax strikes deal with EU

Also, the European Union Commission has finalized talks with the company for the supply of 200 million doses of NVX-CoV2373. According to the terms of the deal, the EU will initially secure 100 million doses of the vaccine with the option of buying another 100 million doses. This will be the seventh deal that the commission has entered with drugmakers for the supply of the COVID-19 vaccine.

Novavax’s COVID-19 vaccine is protein-based and the company engineered from the SARS-CoV-2 virus’ genetic sequence. The company created it through its novel recombinant nanoparticle technology to generate antigen derived from COVID-19 spike protein adjuvanted with the saponin-based Matrix-M™. The vaccine contains purified protein antigens that cannot cause COVID-19 or replicate. Most importantly the vaccine has demonstrated in preclinical studies that it can induce antibodies blocking the spike protein from binding to cellular receptors and provide protection against COVID-19.