BiondVax is developing a universal influenza vaccine.
BiondVax Pharmaceuticals Ltd. (TASE:BNDX) Pharmaceuticals Ltd. (NASDAQ: BVXV, TASE: BVXV) has announced that Angels High Tech Investments Ltd. has agreed to invest NIS 10.9 million (approximately $2.83 million) in the company in exchange for 33.8 million ordinary BiondVax shares on the Tel Aviv Stock Exchange (equivalent to 844,000 Nasadq listed ADS) at the December 29, 2016 Tel Aviv closing market price. Following the transaction, Angels Investments will hold 19.99% of all issued and outstanding share capital of BiondVax.
Angels High Tech Investments is a company fully owned by Marius Nacht, co-founder and chairman of Check Point Software Technologies Ltd. (Nasdaq: CHKP). Angels High Tech Investments' healthcare and life science portfolio is managed by aMoon Partners which is co-led by Dr. Yair Schindel and Marius Nacht. 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."
Schindel said, "We see great potential in BiondVax's universal flu vaccine. We expect that this investment is the beginning of a strong partnership with BiondVax and we look forward to doing our part in helping reduce the global morbidity and mortality caused by influenza viruses."
Published by Globes [online], Israel business news - www.globes-online.com - on January 2, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017
Marius Nacht, photo: Tamar Matsafi