NESS ZIONA, Israel, August 14,
2017 /PRNewswire/ --
BiondVax Pharmaceuticals Ltd.
(NASDAQ: BVXV) (TASE: BVXV) announced today that the Israel
Innovation Authority (IIA), formerly known as the Office of the
Chief Scientist, agreed to fund upto 40% of a NIS 2.7 million (approximately US$ 750,000) budget towards ongoing development
of M-001, the Company's Universal Flu Vaccine candidate.
In six previously completed human clinical trials, including the
recently completed Phase 2b trial held in Europe[1], BiondVax's M-001 was
shown to be safe and immunogenic towards multiple flu strains.
Including today's grant approval, since 2006 the IIA has granted
over US$ 6 million in funding to
BiondVax. The non-dilutive grants will become repayable from
royalties generated from future sales of BiondVax's vaccine, once
commercially available on the market.
Dr. Tammy Ben-Yedidia,
Chief Scientific Officer of BiondVax commented, "The ongoing
support of our program by the IIA is proof of their long-term
confidence in BiondVax's innovative flu vaccine. This grant,
together with other generous recently approved financing to the
company[2],[3] brings us closer to
launching a Phase 3 clinical trial."
About BiondVax Pharmaceuticals Ltd
BiondVax is a clinical phase biopharmaceutical company
developing a universal flu vaccine. The vaccine is designed to
provide multi-season protection against most seasonal and pandemic
human influenza virus strains. BiondVax's proprietary technology
utilizes a unique combination of conserved and common peptides from
influenza virus proteins, activating both arms of the immune system
for a cross-protecting and long-lasting effect. BiondVax is traded
on NASDAQ: BVXV and TASE: BVXV. Please visit
http://www.biondvax.com.
BiondVax Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Litigation Reform Act of 1995. Words
such as "expect,"
"believe," "intend,"
"plan," "continue,"
"may," "will,"
"anticipate," and similar expressions are
intended to identify forward-looking statements. These
forward-looking statements involve certain risks and uncertainties
reflect the management's current views with respect
to certain current and future events and are subject to various
risks, uncertainties and assumptions that could cause the results
to differ materially from those expected by the management of
BiondVax Pharmaceuticals Ltd. risks and uncertainties include, but
are not limited to, uncertainties and risks in the clinical
development process, including, among others, length, expense and
the ability to enroll trial patients, timing
of receipt of funding from grants, reliance on third parties
and that the results of earlier research and/or preclinical or
clinical trial results may not be predictive of actual results,
conclusions or interpretations of subsequent research or
trials, the results of the Phase 2 & 3 trials,
delays or obstacles in launching and/or successfully completing
our clinical trials, the lengthy and unpredictable nature of
the FDA and other regulatory authorities approval
processes, our ability to satisfy rigorous
regulatory requirements, the impact of the global economic
environment on the Company customer target base, the adequacy of
available cash resource and the ability to raise capital when
needed. More detailed information about the risks and
uncertainties affecting the Company is contained under the
heading "Risk Factors" in our Annual
Report on Form 20-F for the year ended December 31, 2016 filed with the U.S. Securities
and Exchange Commission, or SEC, which is available on the SEC's
website, http://www.sec.gov, and in the
Company's periodic filings with the SEC and the
Tel-Aviv Stock Exchange.
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1. BiondVax Reports Positive Phase 2b Clinical Trial Results for
its Universal Flu Vaccine.
http://www.biondvax.com/2017/07/biondvax-reports-positive-phase-2b-clinical-trial-results-for-its-universal-flu-vaccine/
2. European Investment Bank (EIB) supports Late-Stage
Development and Production of BiondVax's Universal Flu Vaccine
Candidate under Horizon 2020 Initiative
http://www.biondvax.com/2017/06/european-investment-bank-eib-supports-late-stage-development-and-production-of-biondvaxs-universal-flu-vaccine-candidate-under-horizon-2020-initiative/
3. BiondVax Approved for Grant from Israel's Ministry of Economy and Industry to
Build Facility for Commercial Scale Production of its Universal Flu
Vaccine
http://www.biondvax.com/2017/03/biondvax-approved-for-grant-from-israels-ministry-of-economy-and-industry-to-build-facility-for-commercial-scale-production-of-its-universal-flu-vaccine/
For further information, please contact:
Joshua Phillipson
Business Development Manager
+972-8-930-2529
j.phillipson@biondvax.com
SOURCE BiondVax Pharmaceuticals Ltd.