Nes Ziona, Israel – April 1, 2014 – BiondVax Pharmaceuticals Ltd (TASE: BNDX), developer of a universal flu vaccine, announced today that its Board of Directors has approved initiation of the process for listing the Company’s shares for trading in the US through American Depository Receipt (ADR).
The Company will act to register an ADR Level 1 Over-The-Counter (OTC), which does not include the option for public offerings in the US (without additional registration). The Company’s key goals are to increase the visibility of the Company and its game changing technology to the public and analysts globally, facilitate access to professional and institutional investors, increase the volume of trading and, more generally, maximize its value for shareholders.
Dr. Ron Babecoff, BiondVax’s CEO: “So far, the universal flu vaccine being developed by the Company was demonstrated to be safe and active against seasonal and pandemic flu strains in four human clinical trials, and to match newly emerging strains. Now, as we focus on seeking commercial agreements with governments around the world or strategic partners, we have decided to make our shares accessible also to US investors and broaden awareness of BiondVax’s successes.”