Daily Archives: June 15, 2020

Novavax to Raise $200 Million from Private Placement with RA Capital

GAITHERSBURG, Md., June 15, 2020 (GLOBE NEWSWIRE) — Novavax, Inc. (NASDAQ: NVAX), a late-stage biotechnology company developing next-generation vaccines for serious infectious diseases, today announced that it has entered into an agreement to sell Series A Convertible preferred stock, convertible into 4,388,852 shares of common stock, to an investment fund affiliated with RA Capital Management (RA Capital) in a private placement, at an effective purchase price per share of common stock equal to the June 12, 2020 closing price. Upon closing Novavax will receive gross proceeds of approximately $200 million.

“We are extremely pleased to receive this tremendous support from RA Capital, which we believe signals a high level of confidence in the significant progress of our COVID-19 and influenza vaccine programs,” said Stanley C. Erck, President and Chief Executive Officer of Novavax. “This additional infusion of capital supplements our strong cash position and the significant funding from CEPI and the U.S. Department of Defense, providing us with the capacity to execute on our critical priority of providing a vaccine against the COVID-19 pandemic as quickly as possible, and to progress NanoFlu to BLA filing.”

“The global vaccine effort is searching for candidates that are capable of both generating the highest neutralizing antibody titers and large-scale production. We are excited to increase our investment in Novavax, which along with resources from CEPI and the U.S. Department of Defense, will support Novavax in its important work developing an effective, scalable vaccine for SARS-CoV-2,” said Peter Kolchinsky, Ph.D., Managing Partner at RA Capital Management.

The preferred stock is not entitled to cumulative dividends, and is not entitled to vote on matters submitted to the holders of Novavax common stock.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security. The shares of preferred stock referenced herein have not been registered under the Securities Act of 1933, as amended (Securities Act), or applicable state securities laws and may not be offered or sold in the United States or any state thereof absent registration under the Securities Act and applicable state securities laws or an applicable exemption from registration requirements.

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. Novavax recently initiated development of NVX-CoV2373, its vaccine candidate against SARS-CoV-2, the virus that causes COVID-19, with Phase 1 clinical trial results expected in July of 2020. NanoFlu™, its quadrivalent influenza nanoparticle vaccine, met all primary objectives in its pivotal Phase 3 clinical trial in older adults. Both vaccine candidates incorporate Novavax’ proprietary saponin-based Matrix-M™ adjuvant in order to enhance the immune response and stimulate high levels of neutralizing antibodies. Novavax is a leading innovator of recombinant vaccines; its proprietary recombinant technology platform combines the power and speed of genetic engineering to efficiently produce highly immunogenic nanoparticles in order to address urgent global health needs.

For more information, visit www.novavax.com and connect with us on Twitter and LinkedIn.

About RA Capital Management

RA Capital Management is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare and life science companies developing drugs, medical devices, and diagnostics. RA Capital’s flexible strategy allows it to provide seed funding to startups and lead private, IPO, and follow-on financings for its portfolio companies, thereby driving value creation from idea inception through commercialization.

Forward-Looking Statements

Statements herein relating to the future of Novavax and the ongoing development of its vaccine and adjuvant products, including statements regarding the manufacturing of vaccine antigen dose amounts and timing, 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, as filed with the Securities and Exchange Commission (SEC) and updated by any Quarterly Report on Form 10-Q, particularly the risks inherent to developing novel vaccines. We caution investors not to place considerable reliance on the 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.

Contacts:
Investors
Novavax, Inc.
Silvia Taylor and Erika Trahan
ir@novavax.com
240-268-2022

Media
Brandzone/KOGS Communication
Edna Kaplan
kaplan@kogspr.com
617-974-8659

AP Wins Power of Purpose Award for New Brand Campaign

NEW YORK, June 15, 2020 (GLOBE NEWSWIRE) — The Associated Press won a Campaign US Power of Purpose award in the brand purpose category for the ‘Advancing the Power of Facts’ campaign.

The campaign, produced by Love & War agency, emphasizes the global news agency’s vital role as the provider of accurate, unbiased, fact-based reporting to the world.

The messaging embodies AP’s position as the world’s most trusted news organization and is supported by the independent, not-for-profit cooperative’s longstanding news values and principles, which shape the news, technology and services it provides.

As part of the branding initiative, AP has updated elements of its visual identity system. The AP logo remains unchanged.

Updated brand assets can be found online at brand.ap.org.

The Campaign US Power of Purpose awards are given to campaigns, companies and individuals for work that influences behaviors, shares important untold stories and helps improve the world at large.

About AP
The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day. Online: www.ap.org

Contact
Patrick Maks
Senior Media Relations Associate
The Associated Press
212-621-7536

A video accompanying this release is available here: https://www.globenewswire.com/NewsRoom/AttachmentNg/4978f1b0-4557-46d1-b8eb-9049d2813dd4

Eighty four foreign vessels driven out of Indonesia’s Bintan waters

Batam, Riau Islands The Indonesian Maritime Security Task Force of 1st Fleet Command has driven out 84 foreign vessels illegally anchoring in the Tanjung Berakit waters of Bintan District, Riau Islands Province, a navy officer said.

Driving out the foreign vessels was part of the Indonesian Navy’s endeavors to strengthen its maritime security in the waters which are prone to illegal activities and crimes, the task force commander, First Admiral Yayan Sofiyan, said here Sunday.

The security maritime operations had also resulted in the arrests of suspected criminals who often conducted thefts and captures of several foreign vessels that had illegally anchored in Indonesia’s territorial waters, he said.

Over this past week, several vessels that had allegedly violated the Indonesian Shipping Law (Law No. 17 of 2008) were TB NELLY 53/TK NELLY 76, LCT Cahata Maulida, TB SSE Alexandria, MT Sun Live, and MV Luna II, he said.

Yayan Sofiyan also highly appreciated the efforts that naval ship KRI Kujang-642 had made to chase MT Tenggiri which escaped to Singapore’s territorial waters.

 

 

Source: Antara News

Indonesian Channel in West Sumatra cancelled due to COVID-19

 

Padang, W Sumatra The ongoing global pandemic of novel coronavirus disease (COVID-19) has forced the Indonesian Government to cancel the convening of an international arts and cultural night titled “Indonesian Channel” due to be hosted by West Sumatra Province in August.

The Indonesian Channel which marks the closing of this year’s Indonesian Arts and Culture Scholarship (IACS) Program is a special event for West Sumatra because some 140 youths from 70 countries would perform, Head of the West Sumatra Tourism Office Novrial said.

The youths were the awardees of the scholarship program in which they would perform at the arts and cultural night to show the Indonesian cultural heritage that they had learned from local art communities in seven provinces, he said.

Thanks to the IACS Program that the Indonesian Foreign Ministry has consistently been organizing since 2003, these selected youths had been given an opportunity to learn the arts and culture of genuine Indonesian heritage for around three months, he said.

During that period, they stayed at the houses of selected Indonesian families, he said, adding that their presence in West Sumatra for the Indonesian Channel in August would give them opportunities to see the beauty of the province’s tourist destinations.

They would also be able to enjoy the West Sumatrans’ authentic arts and cultural attractions. The Indonesian Channel would also be attended by the awardees’ parents, ambassadors of the participating countries, he said.

Unfortunately, due to this ongoing coronavirus outbreak and unavailability of COVID-19 vaccine, the scheduled convening of the Indonesian Channel was then cancelled for safety reasons, Novrial said.

As published in the official website of the Indonesian Consulate General in Frankfurt, Germany, the IACS Program is eligible for Indonesian and foreign youths age 21-27 to study Indonesian cultural heritage as well as immersing oneself with the local art communities in Bali, West Sumatra, East Kalimantan, East Java, Sulawesi or Yogyakarta.

This year’s IACS was commenced from May 2 to Aug 20, 2020 in which on Aug 13, all awardees would perform in an arts and cultural night entitled “Indonesian Channel”.

Organized since 2003, this IACS Program has had 920 alumni coming from 77 countries. They studied history, traditions, arts and cultures of various ethnic groups across the Indonesian archipelago, including traditional dances, musical instruments, and carvings.

 

 

Source: Antara News

 

Military aircraft crashes into residential area in Riau

 

Pekanbaru, Riau A military aircraft crashed into a residential area in Kubang Jaya Village, Siak Hulu Subdistrict of Kampar District in Riau Province on Monday.

“Yes, an aircraft crashed some 500 meters from my house. It happened at around 8.30 a.m.,” a local resident Wahyu said.

There is no further report on casualty, and the Air Force personnel sealed off the crash site.

“The aircraft crashed on a resident’s house named Markun. It was not clear whether there are casualties, because usually that house is empty. The owner rarely stay at the house,” a resident who refused to be named said.

He said, when the incident happened he could hear a loud explosion and saw a person fly with a parachute.

The military aircraft was believed to be a Hawk 209 TT, flown by pilot First Lieutenant Aprianto Ismail. The aircraft departed from Roesmin Nurjadin Air Force Base in Pekanbaru.

There has been no official statement from the Indonesian Air Force yet.

 

 

Source: Antara News