Biopharma Executive Rick Crowley Joins Novavax as Chief Operations Officer

GAITHERSBURG, Md., Dec. 21, 2020 (GLOBE NEWSWIRE) -- Novavax, Inc. (Nasdaq: NVAX), a late-stage biotechnology company developing next-generation vaccines for serious infectious diseases, today announced the appointment of Rick Crowley to the newly created position of Executive Vice President, Chief Operations Officer. In this role, Mr. Crowley will have leadership responsibility for all operations, including Quality, Manufacturing, Supply Chain and Regulatory Affairs. He takes over manufacturing from Ben Machielse, who will continue with the company as an executive advisor to the Chief Executive Officer, supporting the development of the COVID vaccine.

“Rick’s wealth of biopharmaceutical experience and record of on-time FDA approvals comes at the perfect time to help ensure that Novavax delivers on our global manufacturing mission and supply commitments,” said Stanley C. Erck, Novavax President and Chief Executive Officer. “We welcome his leadership as we work to advance not only our COVID-19 candidate, but also influenza and RSV vaccines.”

Prior to joining Novavax, Mr. Crowley was Executive Vice President, Technical Operations for TerSera Pharmaceuticals, where he was responsible for technical support as well as development and strategy for the company’s products, created the initial quality systems, and managed all CMC activities. He served as Senior Vice President, Operations and Quality Assurance for Crealta Pharmaceuticals 2014-2016, where he led all aspects of the supply chain function, managed suppliers and testing, and held responsibility for the management of Regulatory Affairs. Previously, he held the role of Co-President and Chief Operating Officer at Savient Pharmaceuticals, with responsibility for Commercial Operations, Clinical Affairs, Manufacturing/Technical Operations, Regulatory Affairs, Quality Assurance, Quality Control, Project Management, Logistics and Planning. Earlier in his career he held roles of increasing responsibility at ImClone Systems, Incorporated and BASF Bioresearch Corp.

“Novavax is well-positioned to execute on a strategic global operations plan that leverages the company’s strengths and the expertise of its partners to deliver in the near and long term,” said Mr. Crowley. “I am impressed with the astounding progress to-date and look forward to contributing to continue the momentum.”

Mr. Crowley earned a Bachelor of Science degree in chemistry from Denison University and a Master of Science in chemical engineering from the University of Pennsylvania.

About Novavax

Novavax, Inc. (Nasdaq: NVAX) is a late-stage biotechnology company that promotes improved health globally through the discovery, development and commercialization of innovative vaccines to prevent serious infectious diseases. The Company’s proprietary recombinant technology platform combines the power and speed of genetic engineering to efficiently produce highly immunogenic nanoparticles designed to address urgent global health needs. Novavax is conducting late-stage clinical trials for NVX-CoV2373, its vaccine candidate against SARS-CoV-2, the virus that causes COVID-19. NanoFlu™, its quadrivalent influenza nanoparticle vaccine, met all primary objectives in its pivotal Phase 3 clinical trial in older adults and will be advanced for regulatory submission. Both vaccine candidates incorporate Novavax’ proprietary saponin-based Matrix-M™ adjuvant to enhance the immune response and stimulate high levels of neutralizing antibodies.

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Novavax Forward Looking Statements

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, 2019, and Quarterly Report on Form 10-Q for the period ended September 30, 2020, as filed with the Securities and Exchange Commission (SEC). We caution investors not to place considerable reliance on forward-looking statements contained in this press release. You are encouraged to read our 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 we undertake no obligation to update or revise any of the statements. Our 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.

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