NESS ZIONA, Israel, September 18,
2017 /PRNewswire/ --
BiondVax Pharmaceuticals Ltd. (Nasdaq:
BVXV, TASE: BVXV), a clinical stage biopharmaceutical company
focused on developing and commercializing M-001, a universal flu
vaccine candidate, announced today that it has closed an
underwritten public offering of 1,500,000 American Depositary
Shares ("ADS"), each ADS representing forty (40) of its ordinary
shares which are listed on the Tel Aviv Stock Exchange (at
NIS 0.0000001 par value each), at a
price to the public of $6.00 per ADS.
In connection with the public offering, the underwriters exercised
in full their over-allotment option to purchase an additional
166,667 shares of common stock at the public offering price, less
the underwriting discount. As a result, the total public offering
size was 1,666,667 shares, and the gross proceeds from the public
offering were $10 million, before
deducting underwriting discounts and offering expenses.
Dr. Ron Babecoff,
BiondVax's CEO, commented, "I'd like to thank
our investors for their confidence and continued support.
We also welcome the new US-based healthcare focused investors. This
financing, together with the recent €20 million EIB
funding, the Israeli Government support, and our other existing
resources, enables us to launch our Phase 3 program
including a mid-size manufacturing facility."
Joseph Gunnar & Co., LLC
acted as the sole book-running manager for the offering.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(SEC). This press release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
The final prospectus related to the offering was filed with the
SEC and may be accessed on the SEC's website located at
http://www.sec.gov. Copies of the final prospectus may also
be obtained from Joseph Gunnar &
Co, LLC, Prospectus Department, 30 Broad Street, 11th Floor,
New York, NY 10004, telephone
212-440-9600, email: prospectus@jgunnar.com.
About BiondVax
BiondVax is a biopharmaceutical company developing the universal
flu vaccine candidate M-001, which is undergoing preparations for a
phase 3 clinical trial. 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. For more information, please
visit http://www.biondvax.com .
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, the risk that drug development involves a
lengthy and expensive process with uncertain outcome, the results
of the contemplated Phase 2 & 3
trials, delays or obstacles in launching and/or
successfully completing our clinical trials, 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.
Contact Details
Joshua Phillipson
Business Development
+972 8 930 2529
j.phillipson@biondvax.com
SOURCE Biondvax Pharmaceuticals Ltd