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NESS-ZIONA, Israel, Jan. 27, 2021 (GLOBE NEWSWIRE) -- 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.
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.
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.
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.]
For further information please visit http://vaxil-bio.com/ or contact:
North Equities, firstname.lastname@example.org
David Goren, CEO -- email@example.com, +972 (52) 720-6000
Company Youtube channel