COLUMBIA, Md., PRNewswire-FirstCall/ -- Novavax, Inc. (NASDAQ:NVAX) have announced that its stock has been added to the Merrill Lynch Nanotech Index, effective from, April 19, 2004. The index, which was created in March 2004, includes 22 companies that indicate in public documents that nanotechnology initiatives represent a significant component of their future business strategy.

"We are pleased to be included in the Merrill Lynch Nanotech Index," commented Nelson M. Sims, President and CEO. "Our micellar nanoparticle (MNP) technology is one of Novavax's most exciting drug delivery platforms and its commercial viability has already been validated with the recent FDA approval of ESTRASORB(R), the Company's proprietary topical emulsion for estrogen therapy. MNPs are proprietary oil and water nanoemulsions (under 1 micron in diameter and smaller than a platelet or bacteria particle) that are designed to encapsulate and deliver alcohol-soluble drugs directly into the bloodstream when applied to the skin.

Being comprised of oil and water, MNP products have moisturizing and conditioning properties and are applied topically like a lotion. Other advantages seen with the delivery system are the ability for the active ingredient to enter the bloodstream quickly and deliver stable levels when applied daily."

Mr. Sims added, "In addition to other hormone product candidates, MNPs have the potential to be used with a wide variety of drug classes including analgesics, central nervous system drugs and anti-inflammatory agents. In addition to plans to introduce internally developed, proprietary hormone products that utilize our MNP technology platform, we are also excited about opportunities to partner with pharmaceutical companies to introduce products that target these other significant markets."

About Novavax

Novavax, Inc. is a specialty biopharmaceutical company engaged in the research, development and commercialization of proprietary products focused on drug delivery and vaccine development. Novavax sells, markets, and distributes a line of women's health prescription pharmaceuticals through its specialty sales force calling on obstetricians and gynecologists throughout the United States.

Products include Nestabs(R), NovaNatal(R) and NovaStart(R), a line of prescription prenatal vitamins, Gynodiol(R) (estradiol tablets, USP), an oral form of estrogen therapy, AVC(TM) Cream (sulfanilamide vaginal cream) for vaginal infections and Analpram HC(R), a prescription corticosteroid and antipruritic product for hemorrhoids. Novavax's micellar nanoparticle technology involves the use of patented oil and water emulsions that it believes can be used as vehicles for the topical delivery of a wide variety of drugs and other therapeutic products, including hormones. In addition to ESTRASORB(R), its recently approved topical emulsion for estrogen therapy, Novavax has several product candidates utilizing this technology in human clinical trials or in pre-clinical development, including ANDROSORB(TM), a topical testosterone emulsion that has completed two Phase I clinical trials. Novavax has other drug delivery technologies, such as its Novasome(R) and Sterisome(R) technologies, that are being utilized to develop other products.

Novasomes are used as adjuvants to enhance vaccine effectiveness and Sterisomes are used for the delivery of long acting drugs in subcutaneous injections. In addition, Novavax conducts research and development on preventative and therapeutic vaccines and proteins for a variety of infectious diseases, including smallpox, HIV, SARS, papilloma, influenza, and E-selectin tolerogen for the prevention of stroke.

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