Novavax and SK bioscience announced that South Korea's Ministry of Food and Drug Safety (MFDS) has approved a Biologics License Application (BLA) from SK bioscience for Nuvaxovid Covid-19 vaccine for active immunization in individuals 18 years of age and older for the prevention of Covid-19 caused by SARS-CoV-2. Nuvaxovid, Novavax' Covid-19 vaccine is the first protein-based Covid-19 vaccine to be approved for commercial use in South Korea and will be manufactured and marketed in the country by SK bioscience.

"Novavax is proud to bring our Covid-19 vaccine to South Korea at a critical time in the pandemic as both the Delta and Omicron variants have taken hold," said Stanley C. Erck, President and Chief Executive Officer, Novavax. "We thank our partners at SK bioscience for their commitment to this public health challenge and the MFDS for its thorough assessment of our data as we look forward to helping address major obstacles to controlling the pandemic through the additional option of our protein-based vaccine."

SK bioscience has an advance purchase agreement with the South Korean government to supply 40 million doses of Novavax' vaccine. The companies also recently announced expanded collaboration and license agreements that are expected to increase manufacturing capacity and provide SK bioscience with additional non-exclusive territories.