Israel Innovation Authority Approves Additional Budget towards M‑001 Flu Vaccine Development
NESS ZIONA, ISRAEL, August 14, 2017 –
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 up to 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, 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, 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 www.biondvax.com.
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