Israeli universal flu vaccine developer BiondVax Pharmaceuticals Ltd. (TASE:BNDX; Nasdaq: BNDX) today announced that its board of directors has decided to voluntarily delist from the Tel Aviv Stock Exchange (TASE), while maintaining a continued listing on NASDAQ.
Following a €20 million funding agreement with the European Investment Bank (EIB) and as BiondVax progresses towards Phase III clinical trials and construction of its commercial mid-size manufacturing facility, BiondVax's board decided to focus efforts on the international scene.
The delisting process of BiondVax’s shares from trading on the TASE will take place by the end of 2017. All shareholders will retain their pro-rated holdings, as trading will migrate to the Nasdaq.
BiondVax CEO Dr. Ron Babecoff said, "BiondVax is proud to be an Israeli company. Our technology was born in Israel, and we are building our new manufacturing facility in Israel. Nevertheless, a universal flu vaccine is a global product, which demands a global presence. The decision to consolidate trading on NASDAQ and to internationalize our board is an important step towards achieving our goals."
The company has also formed a committee to identify a new chair of the Board who will play an important role in enhancing its international profile. Prof. Avner Rotman will continue to serve as Chairman until a suitable replacement is identified. BiondVax and its Board of Directors thank Professor Rotman for his years of guidance and contributions to the company, and wish him continued success in all his endeavors.
Published by Globes [online], Israel business news - www.globes-online.com - on August 31, 2017
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