07:56 AM EDT, 10/22/2025 (MT Newswires) -- Novavax ( NVAX ) said Wednesday that it has signed definitive agreements to consolidate one of its Maryland-based locations in Gaithersburg and surrounding property.

The company said the transactions are part of its corporate growth strategy to allow Novavax ( NVAX ) to focus on research and development efforts and partnerships.

The agreements will result in $60 million of payments to Novavax ( NVAX ) and future cost savings of $230 million over 11 years, the company said.

The assignment of the lease for the facility and the sale of certain related assets are both expected to close in January 2026, while the sale of property adjacent to the headquarters building is expected to close in Q4 of 2025.