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NESS-ZIONA, Israel, December 29, 2020 (GLOBE NEWSWIRE) – VAXIL BIO LTD. (“Vaxil“or the”Company”) (TSX VENTURE: VXL), an innovative immunotherapy biotechnology company specializing in cancer and infectious diseases, is pleased to announce that following our December 3, 2020 press release, as part of our agreement to Research and Development Cooperation (CRADA) with US Army Institute for Infectious Disease Medical Research (“USAMRIIDThe mice received two of the three scheduled vaccinations. The third and final vaccine is expected to be administered later this week. USAMRIID reports that the mice appear to have responded normally well to the injections given to date and that the experiment is proceeding on schedule. The Company expects the mice to be “confronted” with the COVID-19 virus in mid-January 2021, after having had the chance to develop an immune response. Vaxil plans to deliver a new update in early February 2021.
Additionally, the company said it has initiated an exploratory preclinical study to determine the viability of oral administration. This experiment remains on schedule, having successfully completed the first three doses. Vaxil plans to publish its results at the end of January 2021.
The Company makes no express or implied representation that it has completed development or will be successful in developing a COVID-19 (or SARS-CoV-2) vaccine at this time.
Recently completed private placement without a broker
The Company also wishes to inform that certain officers and / or directors of the Company (the “Related Parties”) participated in the private placement (see press release of December 10, 2020), this participation constituting a “related party transaction” within the meaning of the definition under multilateral instrument 61-101 – Protection of minority holders of securities in special transactions (“MI 61-101”). This transaction with related parties is exempt from the formal assessment and minority shareholder approval requirements of MI 61-101 because neither the fair market value of the securities issued to related parties nor the consideration paid by related parties exceeded 25%. of the company’s market. capitalization.
All the researchers were independent from the company.
ABOUT VAXIL
Vaxil is an Israeli immunotherapy biotechnology company focused on its novel approach to targeting key markers of cancer and infectious disease. Its flagship product ImMucin ™ has successfully completed a Phase 1/2 clinical trial in multiple myeloma for which it was granted orphan drug status from the FDA and EMA. The company aims to continue to develop ImMucin ™, a COVID-19 and tuberculosis vaccine / treatment that has demonstrated promising preliminary results with further preclinical evaluation planned. Additional indications and mAb candidates are being evaluated as treatments for immuno-oncology and infectious diseases alone and in combination with other treatments.
Vaxil harnesses 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 bioinformatics approach. These signal peptides induce a robust T and B lymphocyte response across large and varied HLA subtypes, while acting as true universal neo-antigens. The peptide platform targets these cells by “educating” or specifically activating the immune system to recognize and attack 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 these cells.
Neither the 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.
Disclaimer: Company warns that development of COVID-19 vaccine is still under early-stage research and development and makes no express or implied statement that it has the ability to eliminate COVID virus -19 at the moment. The TSX Venture Exchange Inc. has in no way conveyed the merits of the Company and has neither approved nor disapproved the contents of this press release. This press 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 expectations. Material factors – including availability of funds, results of financing efforts, results of exploration activities – which 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 statement, whether as a result of new information, future events or otherwise. This press release does not constitute an offer to sell or the 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 in state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempted from it. .
About the US Army Institute for Infectious Disease Medical Research
For more than 50 years, USAMRIID has provided cutting-edge medical capabilities to deter and defend against current and emerging biological threat agents. The Institute is the only Department of Defense laboratory equipped to safely study highly dangerous viruses requiring maximum containment at biosafety level 4. Research at USAMRIID results in medical solutions – vaccines, drugs, diagnostics , information and training programs – which benefit both military personnel and civilians. Established in 1969, the Institute plays a key role as the primary military medical research laboratory for the Joint Office of Science and Technology for Chemical and Biological Defense of the Defense Threat Reduction Agency. USAMRIID is a subordinate laboratory of the United States Army Medical Research and Development Command. For more information, visit http://www.usamriid.army.mil.
[The information contained in this press release does not necessarily reflect the position or the policy of the Government and no official endorsement should be inferred.]
CONTACT INFORMATION
For more information, please visit http://vaxil-bio.com/ or contact:
David Goren, CEO – [email protected], +972 (52) 720-6000
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