Novavax, Inc. (Nasdaq: NVAX), a biotechnology company dedicated to developing and commercializing next-generation vaccines for serious infectious diseases, and SK bioscience, Co. Limited, a vaccine business subsidiary of Korea-based SK Group, today announced the expansion of the companies' collaboration and license agreements for NVX-CoV2373, Novavax' recombinant nanoparticle protein-based COVID-19 vaccine.

The companies have agreed that SK bioscience will reserve significant additional manufacturing capacity to produce antigen, a key component of NVX-CoV2373, through 2022, with the possibility to extend the arrangement. The agreement between the companies also builds on a previously announced advance purchase agreement (APA) between SK bioscience and the Korean government to supply 40 million doses of NVX-CoV2373 for the Republic of Korea. SK bioscience may supply additional quantities of NVX-CoV2373 in the Korean market in 2022. Additionally, SK bioscience has acquired non-exclusive rights to sell doses of Novavax' vaccine to the governments of Thailand and Vietnam.

"SK bioscience and the Korean government continue to be significant partners with Novavax in our efforts to ensure broad access of our COVID-19 vaccine to the citizens of South Korea and beyond," said Stanley C. Erck, President and Chief Executive Officer, Novavax. "This strategic partnership helps to further expand our global network for manufacture and commercialization of high-quality product and will be an important part of our expected 2 billion annual doses in total global manufacturing capacity in 2022."

"SK bioscience shares Novavax' sense of urgency to deliver a safe and effective protein-based COVID-19 vaccine to help protect not only South Koreans, but also the global population," said Jaeyong Ahn, Chief Executive Officer, SK bioscience. "We are committed to supporting the production of NVX-CoV2373 in South Korea and doing our part in the fight against COVID-19 in partnership with Novavax."

In collaboration with Novavax, SK bioscience initiated the rolling submission process for NVX-CoV2373 with South Korea's Ministry of Food and Drug Safety (MFDS) in April. A biologics license application was submitted to the MFDS in November. Additional information regarding Novavax' previous licensing agreement with SK bioscience is available here.