Novavax, Inc.

American biotechnology company founded in 1987, known for vaccine development including the NVX-CoV2373 COVID-19 vaccine, headquartered in Gaithersburg, Maryland.

Novavax was founded in 1987 by Rahul Singhvi in Gaithersburg, Maryland. The company focused on vaccine development using recombinant protein technology from its founding. Novavax went public in 1995, raising capital for research and development. The company developed vaccine candidates for various infectious diseases including influenza and respiratory syncytial virus.

In the 2000s and 2010s, Novavax advanced its vaccine pipeline through clinical trials. The company developed vaccine candidates for influenza, RSV, and other infectious diseases. Novavax received funding from government agencies including the National Institutes of Health and the Biomedical Advanced Research and Development Authority to support vaccine development.

During the COVID-19 pandemic, Novavax accelerated development of its COVID-19 vaccine, NVX-CoV2373. The company received significant funding from the U.S. government through Operation Warp Speed. Novavax completed clinical trials and received emergency use authorization for its COVID-19 vaccine in multiple countries in 2021 and 2022.

The COVID-19 vaccine became Novavax's first commercial product, generating significant revenue in 2022 and 2023. The company faced challenges with manufacturing scale-up and regulatory approval timelines. Novavax also faced competition from mRNA vaccines from Pfizer-BioNTech and Moderna.

Recent strategic direction has focused on COVID-19 vaccine commercialization and pipeline advancement. Novavax has invested in manufacturing capacity and regulatory approvals for its COVID-19 vaccine. The company has also advanced its pipeline of vaccine candidates for influenza and RSV. Novavax continues to develop new vaccine candidates using its recombinant protein technology.