VXLLF - Vaxil Bio Ltd.
VAXIL APPLIES FOR CORONAVIRUS VACCINE PATENT UNDER ITS ANTI-INFECTIVE VACCINES PLATFORM AND PROVIDES UPDATE ON THE EXERCISE OF WARRANTS
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Published: Mar 10, 2020 9:11 a.m. ET
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NESS-ZIONA, Israel, Mar 10, 2020 (GLOBE NEWSWIRE via COMTEX) -- Not for distribution by US newswire or in United States
NESS-ZIONA, Israel, March 10, 2020 (GLOBE NEWSWIRE) -- VAXIL BIO LTD. ("Vaxil" or the "Company") (VXL), an innovative immunotherapy biotech company specializing in cancer and infectious diseases, announces that it has submitted a new patent application for its anti-infective vaccines platform as a result of our recently announced COVID19 candidate discovery.
Vaxil has applied for a US patent (U.S 62/987,310) on a coronavirus vaccine that is intended to provide broad patent protection for novel vaccines, pharmaceutical compositions and methods of treating and preventing an infectious disease as well as methods for producing a peptide vaccine against coronaviruses.
The Company also announces that since our recent press release dated March 4, 2020, a further, $221,000 ("Warrant Proceeds") has been received from the exercise of 2,210,000 warrants, having an exercise price of $0.10 per warrant, that were previously issued in January 2018 ()January 2018 Warrants"). Upon exercise of the warrants an additional 2,221,000 common shares of the Company will be issued.
ABOUT VAXIL
Vaxil is an Israeli immunotherapy biotech company focused on its novel approach to targeting prominent cancer markers and infectious diseases. Its lead product ImMucin(TM) successfully completed a Phase 1/2 clinical trial in multiple myeloma and received orphan drug status from the FDA and EMA. The company continues to develop ImMucin [tm] and is also developing a tuberculosis vaccine / treatment that has demonstrated promising preliminary results with further preclinical evaluation underway at a top US academic and research institution. Additional indications and mAb candidates are under evaluation as immuno-oncology and infectious disease treatments alone and in combination with other treatments.
Vaxil exploits the unique properties of signal peptide domains on crucial proteins to develop targeted therapies against cancer targets and infectious disease pathogens. These signal peptide domains are identified by VaxHit(TM), Vaxil's proprietary bioinformatic approach. These SPs induce a robust T- and B-cell response across wide and varied HLA subtypes, while acting as true, universal neoantigens. The peptide platform targets these cells by "educating" or specifically activating the immune system to recognize and attack the affected cells. In addition, Vaxil's mAb platform directly recognizes the target protein expressed on malignant cells and recruits other elements of the immune system to lyse those cells.
