Vaxil Provides Update on USAMRIID, Oral Experiment and Other General Business Matters
January 27 2021 - 6:50AM
VAXIL BIO LTD. (“
Vaxil” or the
“
Company”) (TSX VENTURE: VXL), an innovative
immunotherapy biotech company specializing in cancer and infectious
diseases, is pleased to provide this next update on the progress in
respect to our cooperative research and development agreement
(CRADA) with US Army Medical Research Institute of Infectious
Diseases (“
USAMRIID”).
The mice received the three scheduled
vaccinations by December 31, 2020 and responded normally to the
injections administered. As part of our protocol, we tested the
preliminary immune response to the vaccine candidate and can now
report that the mice have developed an immune response, as
expected, and consistent with previous in vivo (animal)
results.
Further monitoring will be done over the next
weeks while the animals’ immune response continues. The Company
expects that the mice will be “challenged” with (exposed to) the
COVID-19 virus at the end of the month followed by careful
monitoring and testing. The Company expects to provide further
updates in the first half of February 2021.
“The study is proceeding as planned. Mice were
successfully vaccinated, and we have detected an antigen-specific T
cell response in several of the animals receiving the vaccine
candidate. We are pleased with the progress of this study and look
forward to updating our shareholders and the scientific community
with the results once we complete the experiment,” said David
Goren, Vaxil’s Chairman and Chief Executive Officer.”
In addition, Vaxil has completed the exploratory
oral experiment that was announced last month. In this very
preliminary experiment, Vaxil was able to establish that it is
possible to observe an immune response in some animals after oral
delivery of the vaccine candidate. This supports proceeding with
next steps to validate this response. It should be noted that this
is a very preliminary result. Further updates will be provided when
available.
The Company is not making any express or implied
claims that it has completed developing or will be successful in
developing a COVID-19 (or SARS-CoV-2) vaccine at this time.
Warrants
The Company also announces that since December
31, 2020 (the last update provided by the Company regarding the
number of January 2018 Warrants that were exercised), we have
received aggregate proceeds of $1,992,000 from the exercise of
19,920,000 previously issued January 2018 Warrants, having an
exercise price of $0.10 per warrant. The are no remaining January
2018 Warrants.
As of this date, the Company has $3.1 million in
cash and cash equivalents.
Mediation update
Further to our press release from July 20, 2020,
the Company also wishes to advise that the mediation process was
not successful and the Company has been named as a defendant in an
action recently commenced by Mr. Isaac Maresky, a former director
and officer of the Company, alleging constructive dismissal and
seeking damages. The Company denies any wrongdoing, refutes all
claims alleged by Mr. Maresky and intends not only to defend itself
but to counter sue Mr. Maresky.
ABOUT VAXIL
The company posts periodic updates through
videos from the official company’s youtube channel
https://www.youtube.com/channel/UC0M029aN8g6beW09Drgt0dQ
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 for which it received orphan drug status from the FDA and
EMA. The company aims to continue to develop ImMucin™, a COVID-19
and a tuberculosis vaccine / treatment that has demonstrated
promising preliminary results with further preclinical evaluation
planned. 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 signal peptides 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.
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.
Disclaimer: The Company cautions that COVID-19
Vaccine Development is still under early stage research and
development and is not making any express or implied claims that it
has the ability to eliminate the COVID-19 virus at this time. The
TSX Venture Exchange Inc. has in no way passed upon the merits of
the Company and has neither approved nor disapproved the contents
of this press 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.
About the U.S. Army Medical Research
Institute of Infectious Diseases
For over 50 years, USAMRIID has provided leading
edge medical capabilities to deter and defend against current and
emerging biological threat agents. The Institute is the only
laboratory in the Department of Defense equipped to safely study
highly hazardous viruses requiring maximum containment at Biosafety
Level 4. Research conducted at USAMRIID leads to medical solutions
- vaccines, drugs, diagnostics, information, and training programs
- that benefit both military personnel and civilians. Established
in 1969, the Institute plays a key role as the lead military
medical research laboratory for the Defense Threat Reduction
Agency's Joint Science and Technology Office for Chemical and
Biological Defense. USAMRIID is a subordinate laboratory of the
U.S. 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 INFORMATIONFor further information please
visit http://vaxil-bio.com/ or contact:North Equities,
info@northequities.comDavid Goren, CEO -- info@vaxil-bio.com, +972
(52) 720-6000Company Youtube channel
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