• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Novavax Appoints New Vice President of Pharmaceutical Development

Posted on: Thursday, 8 September 2005, 09:01 CDT

MALVERN, Pa., Sept. 8 /PRNewswire-FirstCall/ -- Novavax, Inc. today announced the appointment of Robert W. Lee, Ph.D. to the position of Vice President, Pharmaceutical Development. Dr. Lee will report directly to Dr. Rahul Singhvi, President and CEO.

Dr. Lee, age 45, joins Novavax following more than 15 years experience in pharmaceutical research and development of both therapeutic drugs and diagnostic imaging agents. Most recently he has served as Vice President of Product Development for Lyotropic Therapeutics, Inc., based in Ashland, VA. He will continue in his current role as Chief Scientific Advisor for NanoScan Imaging, LLC. Previously, Dr. Lee held the position of Vice President of Research and Development for IMCOR Pharmaceutical Company.

From 1990 to 2002, Dr. Lee held various Research & Development positions with Sterling Winthrop Pharmaceuticals, NanoSystems, and elan Drug Delivery, Inc. His areas of expertise include preformulation, drug delivery, formulation development, analytical sciences, sterile manufacturing, and technology evaluation and development. Dr. Lee was one of the founders of NanoSystems, a drug delivery company focused on the formulation of water-insoluble drugs. He maintains strong academic ties, including an appointment as Adjunct Associate Professor of Pharmaceutical Chemistry at the University of Kansas since 1992, and serving as a reviewer for both the International Journal of Pharmaceutics and Journal of Pharmaceutical Sciences.

Dr. Lee received a Ph.D. in Physical Bioorganic Chemistry under the direction of Professor Thomas C. Bruice from the University of California, Santa Barbara and B.Sc.'s in both Chemistry and Biology from the University of Washington. He is the author or co-author of 11 patents, five patent applications, eight research articles, and two book chapters.

"We are pleased to attract someone of the caliber of Dr. Lee to the new Novavax, Inc.," said Rahul Singhvi, President and CEO. "Robert has a track record of successful product development in the area of nanoparticle technology. He will be critical in leading Novavax to achievement of our goal to develop high value added products using our proprietary micellar nanoparticle technology. In addition, his capabilities in manufacturing technology transfer will be critical as we move several of our new products from pre-clinical to the clinical stage. We also look forward to benefiting from his leadership, business development skills, and established relationships to assist our company in finding new industry partners for our ever growing mix of new products."

About Micellar Nanoparticle (MNP) Technology

Micellar nanoparticles are oil and water nanoemulsions that allow systemic drug delivery through topical application. MNP technology is the basis for ESTRASORB, marketed as a topical emulsion that delivers estrogen in a lotion- like formulation for the management of moderate to severe vasomotor symptoms in postmenopausal women. MNP technology has also been successfully applied in the development of Androsorb, which has completed Phase I trials as a topical testosterone replacement therapy.

About Novavax, Inc.

Novavax, Inc. is a specialty biopharmaceutical company focused on the research, development and commercialization of products utilizing its proprietary drug delivery and biological technologies for large and growing markets. Novavax currently markets and distributes a line of prescription pharmaceutical products and prenatal vitamins.

Statements made in this press release that state Novavax's or management's intentions, hopes, beliefs, expectations, or predictions of the future are forward-looking statements. Forward-looking statements include but are not limited to statements regarding usage of cash, product sales, future product development and related clinical trials and future research and development, including FDA approval. Novavax's actual results could differ materially from those expressed in such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from those expressed or implied by such forward-looking statements. Such factors include, among other things, the following: general economic and business conditions; ability to enter into future collaborations with industry partners, including an ESTRASORB(R) licensing agreement; competition; unexpected changes in technologies and technological advances; ability to obtain rights to technology; ability to obtain and enforce patents; ability to commercialize and manufacture products; ability to establish and maintain commercial-scale manufacturing capabilities; results of clinical studies; progress of research and development activities; business abilities and judgment of personnel; availability of qualified personnel; changes in, or failure to comply with, governmental regulations; the ability to obtain adequate financing in the future through product licensing, co-promotional arrangements, public or private equity financing or otherwise; and other factors referenced herein. Additional information is contained in Novavax's annual report on Form 10K for the year ended December 31, 2004 and quarterly reports on Form 10Q for the quarters ended March 31, 2005 and June 30, 2005, incorporated herein by reference. Statements made herein should be read in conjunction with Novavax's annual and quarterly reports filed with the SEC. Copies of these filings may be obtained by contacting Novavax at 508 Lapp Road, Malvern, PA 19355 Tel 484-913-1200 or the SEC at http://www.sec.gov/.

Novavax, Inc.

CONTACT: Kathy Hamilton, Investor Relations of Novavax, Inc.,+1-484-913-1213, KHamilton@novavax.com

Web site: http://www.novavax.com/

Source: PRNewswire-FirstCall

More News in this Category