Organization	9 Months Ended
Sep. 30, 2011
Organization	Note 1 – Organization Novavax, Inc. (the “Company”), is a clinical-stage biopharmaceutical company focused on developing novel and effective recombinant vaccines. These vaccines leverage the Company’s platform technology coupled with a single-use bioprocessing production system to develop virus-like particle (“VLP”) vaccines, as well as recombinant nanoparticle vaccines. VLPs are genetically engineered three-dimensional nanostructures that incorporate immunologically important recombinant proteins. The Company’s VLPs resemble the virus they were engineered to mimic, but lack the genetic material to replicate the virus and its single-use bioprocessing production technology uses insect cells rather than chicken eggs or mammalian cells. Similarly, recombinant nanoparticle vaccines are smaller in size than traditional VLPs, but the protein-based structures mimic key portions of the virus and their native configurations that are critical for induction of effective immunogenic responses. The Company’s current product targets include VLP vaccines against seasonal and pandemic (including H5N1) influenza and a recombinant nanoparticle vaccine against Respiratory Syncytial Virus (“RSV”). In 2009, the Company formed a joint venture (the “JV”) with Cadila Pharmaceuticals Limited (“Cadila”) named CPL Biologicals Private Limited to develop and manufacture vaccines, biological therapeutics and diagnostics in India. The Company owns 20% of the JV, and Cadila owns the remaining 80%.

Note 1 – Organization

Novavax, Inc. (the “Company”), is a clinical-stage biopharmaceutical company focused on developing novel and effective recombinant vaccines. These vaccines leverage the Company’s platform technology coupled with a single-use bioprocessing production system to develop virus-like particle (“VLP”) vaccines, as well as recombinant nanoparticle vaccines. VLPs are genetically engineered three-dimensional nanostructures that incorporate immunologically important recombinant proteins. The Company’s VLPs resemble the virus they were engineered to mimic, but lack the genetic material to replicate the virus and its single-use bioprocessing production technology uses insect cells rather than chicken eggs or mammalian cells. Similarly, recombinant nanoparticle vaccines are smaller in size than traditional VLPs, but the protein-based structures mimic key portions of the virus and their native configurations that are critical for induction of effective immunogenic responses. The Company’s current product targets include VLP vaccines against seasonal and pandemic (including H5N1) influenza and a recombinant nanoparticle vaccine against Respiratory Syncytial Virus (“RSV”).

In 2009, the Company formed a joint venture (the “JV”) with Cadila Pharmaceuticals Limited (“Cadila”) named CPL Biologicals Private Limited to develop and manufacture vaccines, biological therapeutics and diagnostics in India. The Company owns 20% of the JV, and Cadila owns the remaining 80%.