Universal influenza vaccine developer BiondVax Pharmaceuticals Ltd. (TASE:BNDX) plans to list Level 1 American Depository Receipts (ADRs) on the Bulletin Board on Wall Street. In the notice to the TASE, the company says that the listing is intended to expose the company's securities to American and other foreign investors.
BiondVax had previously said that the listing of ADRs would not immediately help raise capital on Wall Street, which is not its intention anyway, but that the listing would expose the company's activity to government agencies and expert investors in order to develop its business.
BiondVax's universal influenza vaccine is effective against all known influenza strains, as well as strains that are not yet known and for which there is no vaccine. One injection is enough to provide many years resistance. The company is initially developing its vaccine as a supplement to seasonal vaccines, before registering it as a stand-alone product.
The vaccine has undergone a Phase II clinical trial (efficacy study), and the company is now seeking to develop its business by commercializing the product with governments, as part of their preparations against future flu pandemics. The company will not yet prepare for more independent clinical trials, but will seek collaborations with government agencies, and is in talks with the US Department of Health.
Published by Globes [online], Israel business news - www.globes-online.com - on March 31, 2014
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