Novavax Beefs Up Executive Team As It Sprints In The Coronavirus Vaccine Race

Novavax, Inc. NVAX, which is also considered one of the frontrunners in the coronavirus vaccine, announced a few additions to its executive team.

What Happened: The company said Wednesday it has appointed AstraZeneca plc AZN veteran Filip Dubovsky as SVP and Chief Medical Officer, overseeing its medical and clinical affairs and related activities.

Dubovsky has more than 20 years of experience in infectious diseases and was overseeing clinical development of early and late-stage infectious disease and vaccine assets at AstraZeneca's biologics arm MedImmune.

The company also announced the appointment of Silvia Taylor, as SVP, Investor Relations and Corporate Affairs.

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Why It Matters: Novavax reported in late March positive Phase 3 results for its influenza vaccine candidate NanoFlu.

In late May, the company commenced human studies of its SARS-CoV-2 vaccine candidate, NVX-CoV2373. It also has put in place manufacturing tie-ups to make over 1 billion doses of COVID-19 vaccine antigen annually.

"I am eager to put my experience to work to help Novavax deliver these novel vaccines to healthcare practitioners and reduce the spread of these harmful diseases worldwide," Dubovsky said.

Novavax announced Tuesday it has appointed biotech industry veteran David Mott as an independent director to board.

Apart from federal funding for its coronavirus vaccine, the company recently announced an agreement to raise $200 million through private placement with RA Capital.

At last check, Novavax shares were rallying 10% to $57.38.