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As a biotechnology company focused on developing life-saving vaccines to fight infectious diseases, Novavax has spent the new year reaffirming its commitment to making the world a better place.
What Is a Protein-Based Vaccine?
According to Novavax, protein-based vaccines have been protecting people from infectious diseases since the 1980s when they were first developed. They include carefully identified protein fragments of a virus combined with another substance that helps to increase the immune system response to the fragments. The process trains the body to recognize the whole virus and create antibodies and defensive white blood cells needed to help fight it.
Participating in the 42nd Annual J.P. Morgan Healthcare Conference
On January 8, leaders from Novavax got a chance to present at the conference, which is the largest and most informative healthcare investment symposium that connects global industry leaders, fast-growing companies, and more. Novavax leadership shared strides in developing a vaccine to address malaria outbreaks. They highlighted fruitful accomplishments from 2023, including initiatives that allowed the company to have a more robust and sustainable business. Efforts included restructuring the management team, reducing liabilities, streamlining strain selection, and manufacturing processes. Additionally, leaders shared opportunities to meet unmet needs through a combination flu and COVID-19 vaccine.
Updated COVID-19 Vaccine Authorized in the UK
The United Kingdom’s Medicines and Health care products Regulatory Agency (MHRA) granted marketing authorization for an updated version of a COVID-19 vaccine. NVX-CoV2601 was formulated to target the Omnicron XBB.1.5 subvariant.
In a news release, John C. Jacobs, president and CEO of Novavax, said the authorization is “recognition of the role our vaccine can have in protecting the British public against COVID-19 this year.”
“We are in ongoing conversations with additional UK partners to identify potential opportunities to offer our protein-based non-mRNA COVID-19 vaccine to all eligible individuals who want one,” Jacobs said. “We believe this is critical to supporting long-term, broad uptake of a seasonal COVID vaccine in the UK.”
Novavax Partners and Collaborators
- CEPI
- Takeda
- SK bioscience
- CPL Biologicals
- Serum Institute of India
- JPEO-CBRND
Becoming More Agile
In a February 28 news release, the company outlined its fourth quarter and full-year results from 2023. One stride has been in improving its financial position while maintaining its ability to support long-term value creation. The company reduced its operating expenses by 41 percent and reduced its workforce by 30 percent.
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