Novavax, a late-stage biotech developing next-gen vaccines for serious infectious diseases, has expanded its large-scale manufacturing capacity with the $167 million acquisition of Praha Vaccines – part of the Cyrus Poonawalla Group.
The acquisition includes a biologics manufacturing facility and associated assets in Bohumil, Czech Republic. The facility is expected to provide an annual capacity of over 1 billion doses of antigen starting in 2021 for Novavax’ COVID-19 vaccine candidate, NVX‑CoV2373.
NVX‑CoV2373 consists of a stable, prefusion protein antigen made using its proprietary nanoparticle technology and includes Novavax’ proprietary Matrix‑M adjuvant.
The acquisition also includes a 150,000-square foot state of the art vaccine and biologics manufacturing facility and other support buildings, along with the existing employees and all related and required infrastructure.
The facility is completing a renovation that includes Biosafety Level-3 (BSL-3) capabilities. As part of the transaction, approximately 150 employees with significant experience in vaccine manufacturing and support have joined Novavax.
“Manufacturing capacity is a critical component of our strategy to deliver a vaccine for the COVID-19 pandemic,” said Stanley C. Erck, President and CEO of Novavax.
“This acquisition provides the vital assets required to produce more than 1 billion doses per year. In parallel with ramping up production at Bohumil, we will continue efforts to expand antigen capacity in the US and Asia, and increase production of Matrix-M to match antigen capacity at multiple sites globally.”