Vaxil Provides Update Website, Lab Work and the Exercise of Warrants
March 16 2020 - 9:10AM
VAXIL BIO LTD. (“
Vaxil” or the
“
Company”) (TSX VENTURE: VXL), an innovative
immunotherapy biotech company specializing in cancer and infectious
diseases, announces that it has experienced technical issues with
its website and is working to restore access to it in the coming
days. We would also like to assure our shareholders that we are
continuing our laboratory and other work on our previously
announced Corona virus vaccine, despite measures being taken by
governments around the world that limit travel and the assembly of
groups of people. We are committed to updating the public with all
material events as we work diligently to pursue our vaccine.
The Company also announces that since our recent
press release dated March 10, 2020, a further, $354,000
(“Warrant Proceeds”) has been received from the
exercise of 3,540,000 warrants, having an exercise price of $0.10
per warrant, that were previously issued in January 2018. Upon
exercise of the warrants, an additional 3,540,000 common shares of
the Company will be issued. The aggregate Warrant Proceeds from the
last few weeks amounts to $927,000 and will be applied to advancing
our research program.
ABOUT VAXIL Vaxil is an Israeli
immunotherapy biotech company focused on its novel approach to
targeting prominent cancer markers and infectious diseases. Its
lead product ImMucin™ successfully completed a Phase 1/2 clinical
trial in multiple myeloma and received orphan drug status from the
FDA and EMA. The company continues to develop ImMucintm and is also
developing a tuberculosis vaccine / treatment that has demonstrated
promising preliminary results with further preclinical evaluation
underway at a top US academic and research institution. Additional
indications and mAb candidates are under evaluation as
immuno-oncology and infectious disease treatments alone and in
combination with other treatments.
Vaxil exploits the unique properties of signal
peptide domains on crucial proteins to develop targeted therapies
against cancer targets and infectious disease pathogens. These
signal peptide domains are identified by VaxHit™, Vaxil’s
proprietary bioinformatic approach. These SPs induce a robust T-
and B-cell response across wide and varied HLA subtypes, while
acting as true, universal neoantigens. The peptide platform targets
these cells by “educating” or specifically activating the immune
system to recognize and attack the affected cells. In addition,
Vaxil’s mAb platform directly recognizes the target protein
expressed on malignant cells and recruits other elements of the
immune system to lyse those cells.
Disclaimer: The TSX Venture Exchange Inc. has in
no way passed upon the merits of the Company has neither approved
nor disapproved the contents of this press release. Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. This
news release contains forward-looking information, which involves
known and unknown risks, uncertainties and other factors that may
cause actual events to differ materially from current expectation.
Important factors - including the availability of funds, the
results of financing efforts, the results of exploration activities
-- that could cause actual results to differ materially from the
Company's expectations are disclosed in the Company's documents
filed from time to time on SEDAR (see www.sedar.com). Readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The company disclaims any intention or obligation, except to the
extent required by law, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. This press release does not constitute an offer to
sell or a solicitation of an offer to sell any of the securities
described herein in the United States or elsewhere. These
securities have not been, and will not be, registered in the United
States Securities Act of 1933, as amended, or any state securities
laws, and may not be offered or sold in the United States or to
U.S. persons unless registered or exempt therefrom.
CONTACT INFORMATIONFor further information
please visit http://vxlbio.com or contact: David Goren,
CEO -- david@vxlbio.com, +972 (52) 720-6000
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