Novavax, Inc. announced that the U.S. Department of Health and Human Services, Biomedical Advanced Research and Development Authority (BARDA) has completed an In-Process Review (IPR) of Novavax' contract covering the company's recombinant virus-like particle (VLP) vaccine candidates for pandemic and seasonal influenza. The contractually-defined IPR was conducted by a team of U.S. Government experts (BARDA, FDA, NIH and CDC), who provided input on Novavax' progress during the contract base period and plans for further development, including both near-term process development and manufacturing activities and longer-term clinical efforts. BARDA has notified the company that based on the results of the IPR, a milestone decision has been made to continue the contract for both the seasonal and pandemic influenza programs. In March 2011, Novavax was awarded a contract valued at up to $179 million by BARDA for the advanced development of recombinant vaccines for the prevention of seasonal and pandemic influenza.

In the midst of the contract's 3-year base period, valued at $97 million, Novavax has been developing and testing its novel recombinant virus-like particle (VLP) influenza vaccines to address BARDA's commitment to advancing recombinant-based technology as a component of pandemic preparedness. The contract can be extended for an additional 24-month option period at BARDA's option, with $82 million in additional funding to build on the work Novavax accomplishes during the base period and to support manufacturing scale-up and licensure by the U.S. Food & Drug Administration (FDA).