Clinical-Stage Vaccine Company to Expand, Add 850 New Local Jobs

Novavax​, a clinical-stage vaccine company that designs products to prevent a broad range of infectious​ diseases, announced plans this week to expand its presence in Montgomery County, including adding as many as 800 new jobs.

The company, which is headquartered in Gaithersburg, is planning to build out its research, development, and clinical trial support operations. As part of the expansion, Novavax plans to retain its current 400 full-time employees and add up to 850 new jobs to accommodate its growi​ng pipeline of vaccine candidates, according to a press release.

The announcement coincides with the 2016 BIO International Convention in San Francisco, where Maryland is being represented by nearly 70 companies, agencies, and organizations state-wide.

Novavax has initiated more than 20 clinical trials targeting infectious diseases, including respiratory syncytial virus (RSV), seasonal influenza, pandemic influenza, and Ebola virus (EBOV).

In May, Novavax signed a lease for approximately 150,000 square feet of facility space located at 1201 Clopper Road in Gaithersburg.

Novavax representatives said the company selected Maryland and the Clopper Road location for its expansion through a competitive process and "made a concerted decision to grow within the local area."

"The new space will support laboratory and manufacturing activities," executives said in the release.

Maryland Governor Larry Hogan praised the number of new jobs Novavax is adding to the local area.

“This expansion, along with the addition of 850 new jobs, is a win for hardworking Marylanders and our state as a whole," Gov. Hogan said. "Innovative companies like Novavax – that choose to grow their business right here in Maryland – underscore our administration’s commitment to strengthening our economy.”

“Supporting the expansion of companies like Novavax helps reinforce Maryland’s leadership in the life sciences, and positions the state as an ideal place where companies can develop innovative treatments, diagnostics and cures,” added Maryland Commerce Secretary Mike Gill. “We are proud to support the expansion of one of Maryland’s home-grown companies and are pleased to see that Novavax is quickly becoming a significant player in the field of vaccine development.”

According to a statement by the Maryland Department of Commerce, the state has approved a total of $5 million in conditional loans for the three phases of the project through the Maryland Economic Development Assistance Authority and Fund (MEDAAF) program. The loans are based on the company’s job creation and capital expenditure as part of the expansion, the statement explained.

In addition, Montgomery County approved a conditional grant of up to $2.5 million, and the company is eligible for the county’s New Jobs Tax Credit. Also, the City of Gaithersburg approved up to a $50,000 grant from its Economic Development Toolbox program.

The company is also eligible for a number of state tax credits and programs, the Commerce Department said.

In addition to its Gaithersburg headquarters, Novavax also has locations in Rockville and Uppsala, Sweden.