BiondVax Pharmaceuticals Ltd (BVXV)

[midastouch017]

BiondVax Signs Lease Agreement for Mid-Size Commercial Facility to Manufacture Universal Flu Vaccine



NESS ZIONA, Israel, July 18, 2017 /PRNewswire via COMTEX/ -- NESS ZIONA, Israel, July 18, 2017 /PRNewswire/ --

BiondVax Pharmaceuticals Ltd. BVXV, +5.09% (tase:BVXV), developer of the Universal Flu Vaccine candidate M-001, today signed an agreement to lease approximately 1800m [2] in the Jerusalem BioPark (JBP), located in the Ein Kerem Hadassah campus, next to Hadassah University Hospitals and Hebrew University's Medical School. The mid-sized facility is planned to have capacity to annually produce tens of millions of doses of M-001 either in single-dose syringe or in bulk. M-001 is designed to provide protection against current and future seasonal and pandemic flu strains.

Dr. Shimon Hassin, BiondVax's COO, commented, "BiondVax's previous manufacturing accomplishments include achieving GMP certification, twice passing European QP audits, and an ongoing collaboration with a US-based CMO for upscaling for Phase 3 clinical batches. We expect our new facility will optimize production timelines and significantly reduce production costs. This new planned mid-size commercial manufacturing facility will mark the culmination of BiondVax's transformation into a fully integrated pharmaceutical company operating under international GMP standards."

Planning and design of the facility by a leading engineering company has begun, and while construction will begin soon, the agreement calls for BiondVax to begin lease payments in October 2018. The length of the lease is 10 years with an option for an additional 5 years at BiondVax's discretion. As well, the agreement provides BiondVax with a 6-month advanced notice annual penalty-free exit clause. Costs of building and operating the facility are partially supported by a previously announced grant from Israel's Ministry of Economy and Industry [[1]] and a €20 million agreement with the European Investment Bank (EIB) [[2]] .

About BiondVax Pharmaceuticals Ltd

BiondVax is a clinical phase biopharmaceutical company developing a universal flu vaccine. The vaccine is designed to provide multi-season protection against most seasonal and pandemic human influenza virus strains. BiondVax's proprietary technology utilizes a unique combination of conserved and common peptides from influenza virus proteins, activating both arms of the immune system for a cross-protecting and long-lasting effect. BiondVax is traded on NASDAQ: BVXV and TASE: BVXV. Please visit http://www.biondvax.com.