NESS-ZIONA, Israel, May 05, 2020 (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 announce the signing of a collaboration agreement between the Company and The Medical Research, Infrastructure, and Health Services Fund of the Tel Aviv Medical Center (the “Tel Aviv Medical Center”) to advance the Company’s research program to develop a potential peptide vaccine against COVID-19.
This agreement provides Vaxil with vital access to Tel Aviv Medical Center’s research resources including their unique bank of biological samples and its advanced research infrastructure. Dr. David Hagin, Director of the Allergy and Clinical Immunology Unit, will progress our pre-clinical work and clinical trials.“This collaboration agreement is an central milestone in the pre-clinical stage of our COVID-19 vaccine candidate research, and provides a clear pathway to potential clinical trials during 2020”, said David Goren, Vaxil’s Chairman and Chief Executive Officer. He continued to say “the The Aviv Medical Center is a leading hospital and is at the forefront of fighting the COVID-19 pandemic in Israel. We look forward to working with Dr. Hagin and their world-class medical and research teams on this program.”Dr. Hagin added “Use of the signal peptide platform, which targets infected cells rather than the virus is unique and exciting. I see great potential in this innovative approach to develop a potential COVID-19 vaccine. We share Vaxil’s vision of creating a vaccine quickly for the benefit of people all over the world.”The Company does not anticipate the need to raise additional funds to finance this work.The Company is not making any express or implied claims that it has completed developing or will be successful in developing a vaccine to treat COVID-19 (or SARS-CoV-2) at this time.ABOUT VAXILVaxil 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 and received orphan drug status from the FDA and EMA. The company continues to develop ImMucintm and is also developing a tuberculosis vaccine / treatment that has demonstrated promising preliminary results with further preclinical evaluation underway at a top US academic and research institution. 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 SPs 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.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 has neither approved nor disapproved the contents of this press release. 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. 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.
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