BiondVax to Raise $10 M on NASDAQ
BiondVax Pharmaceuticals Ltd. (TASE:BNDX), which is developing a universal vaccine for many types of influenza, announced that it was submitting a prospectus to Nasdaq that will allow it to offer shares through American depositary receipts (ADRs) after the company is listed. BiondVax is seeking to raise up to $10 million for Universal Flu Vaccine, designed to provide multi-season and multi-strain protection against most human influenza virus strains, including both seasonal and pandemic flu strains. BiondVax’s technology utilizes a unique, proprietary combination of conserved and common epitopes from influenza virus proteins to activate both arms of the immune system for a cross-protecting and long-lasting effect. BiondVax has successfully completed two Phase II and two Phase I/II clinical trials of the lead product, the Multimeric-001 Universal Flu Vaccine. In all four trials, the vaccine was shown to be safe and immunogenic, successfully stimulating both humoral and cellular immune responses. Pre-clinical and clinical results support that Multimeric-001 is a universal flu vaccine that in the event of a pandemic could be administered as a pandemic primer, to prepare the population immunologically while the pandemic strain-specific vaccine is manufactured.