GAITHERSBURG, Md., May 6, 2014 (GLOBE NEWSWIRE) -- Novavax, Inc. (Nasdaq:NVAX), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants, today announced the appointment of Sven Andréasson to the position of Senior Vice President, Corporate Development, effective June 2, 2014. Mr. Andréasson will be responsible for identifying, prioritizing and evaluating new strategic opportunities that leverage the company's core strengths and growth initiatives.
Mr. Andréasson brings to Novavax a long history of experience in biopharmaceutical operations, executive management and strategic development from his many years in the industry. From 2012 to 2013 he served as the Chief Executive Officer of Isconova AB in Uppsala, Sweden, a leading international vaccine adjuvant company acquired by Novavax in 2013, currently operating as Novavax AB. Prior to his role at Isconova AB, Mr. Andréasson served as the Chief Executive Officer of Beta-Cell NV in Brussels, Belgium from 2008 to 2012 and as Chief Executive Officer of Active Biotech AB in Lund, Sweden from 1999 to 2008. Mr. Andréasson spent a number of years in roles inside Pharmacia Corporation including: President of Pharmacia SA, France, President of KabiPharmacia International and President of Pharmacia Arzneimittel GmbH, Germany.
"My first serious interactions with Sven occurred during our negotiations to acquire Isconova AB. I was immediately impressed with him as a pragmatic and thoughtful business professional. It became readily apparent to me that Novavax would benefit from his extensive vaccine and pharmaceutical industry experience and insight," said Stan Erck, President and CEO of Novavax. "I am very excited to have someone with Sven's experience help me and the entire management team to evaluate organic and non-organic opportunities to build this business and increase shareholder value."
Mr. Andréasson stated, "Novavax has an impressive pipeline and a remarkably talented and experienced team of professionals. Novavax' successful clinical trial data over recent months underscore its potential to develop into a major vaccine player. With today's strong platform as a base, we will systematically evaluate promising new growth possibilities. I look forward to joining the team of Novavax."
Novavax, Inc. (Nasdaq:NVAX) is a clinical-stage biopharmaceutical company creating novel vaccines and vaccine adjuvants to address a broad range of infectious diseases worldwide. Using innovative proprietary recombinant nanoparticle vaccine technology, the company produces vaccine candidates to efficiently and effectively respond to both known and newly emergent diseases. Additional information about Novavax is available on the company's website, novavax.com.
Statements herein relating to the future of Novavax and the ongoing development of its vaccine and adjuvant products are forward-looking statements. Novavax cautions that these forward looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include those identified under the heading "Risk Factors" in the Novavax Annual Report on Form 10-K for the year ended December 31, 2013, and filed with the Securities and Exchange Commission (SEC). Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read company filings with the SEC, available at sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the company undertakes no obligation to update or revise any of the statements. The company's business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
CONTACT: Barclay A. Phillips SVP, Chief Financial Officer and Treasurer Novavax, Inc. 240-268-2000