Drug Research
Drug Discovery & Development

BiondVax secures $2.8m investment from Marius Nacht fund

PBR Staff Writer Published 03 January 2017

Angels High Tech Investments has agreed to invest $2.8m in BiondVax Pharmaceuticals, a company which is engaged in the development of a universal flu vaccine.

Upon completion of the transaction, Angels Investments will hold 19.99% of all issued and outstanding share capital of BiondVax.

Angels Investments is owned by Check Point co-founder and chairman Marius Nacht.

BiondVax’s vaccine is designed to offer multi-season protection against most seasonal and pandemic human influenza virus strains.

The company’s technology uses a combination of conserved and common peptides from influenza virus proteins. It activates both arms of the immune system for a cross-protecting and long-lasting effect.

BiondVax founder, president and CEO Ron Babecoff said: “This investment is a vote of confidence in BiondVax and its universal influenza vaccine candidate. We are now better positioned to complete our development plans and commercialize our vaccine worldwide.

“This strategic partnership, together with clinical results and ongoing clinical trial collaborations in Europe and the US (NIH) will enable us to proceed confidently into Phase 3 as planned.”

In November 2016, BiondVax announced positive preliminary safety results from its European Phase 2b clinical trial of M-001 universal flu vaccine candidate.

The candidate was found to be safe and well tolerated and just three moderate adverse events were considered to be possibly or probably associated to the treatment. There were no related severe adverse events.