BiondVax to Initiate the Process for Trading the Company's Shares in the US through ADR
NES ZIONA, Israel, April 2, 2014 /PRNewswire/ -- BiondVax Pharmaceuticals Ltd (TASE: BNDX), developer of a universal flu vaccine, announced today that its Board of Directors has approved initiation of the process for listing the Company's shares for trading in the US through American Depository Receipt (ADR).
The Company will act to register an ADR Level 1 Over-The-Counter (OTC), which does not include the option for public offerings in the US (without additional registration). The Company's key goals are to increase the visibility of the Company and its game changing technology to the public and analysts globally, facilitate access to professional and institutional investors, increase the volume of trading and, more generally, maximize its value for shareholders.
Dr. Ron Babecoff, BiondVax's CEO: "So far, the universal flu vaccine being developed by the Company was demonstrated to be safe and active against seasonal and pandemic flu strains in four human clinical trials, and to match newly emerging strains. Now, as we focus on seeking commercial agreements with governments around the world or strategic partners, we have decided to make our shares accessible also to US investors and broaden awareness of BiondVax's successes."
About BiondVax Pharmaceuticals Ltd
BiondVax is a publicly traded (TASE: BNDX), advanced clinical stage biotech company dedicated to improving global protection against influenza, with its lead product a universal influenza (flu) vaccine called M-001. Influenza (flu) is the most common infectious disease, caused by countless flu strains as the virus mutates unpredictably and frequently. Current seasonal and pandemic flu vaccines are strain-specific and often mismatched to emerging flu strains. Therefore there is an urgent need for broadly protective flu vaccines especially in the case of pandemics and this is being addressed by BiondVax.
Presently, BiondVax's universal flu vaccine (M-001) has several unique competitive advantages: the most advanced stage of clinical development (two phase 1/2 and two phase 2 clinical trials with 440 people); excellent safety profile; triggers both arms of our immune defenses; active without adjuvant; manufactured in only 6-8 weeks (conventional flu vaccines take 6-8 months); unchanging composition enabling year-round production and stockpiling; and further, M-001 has two indications, as a standalone universal flu vaccine and as a pandemic primer. This second indication when approved will provide pandemic preparedness AHEAD of flu outbreak as the prime-boost vaccination schedule can start immediately upon any pandemic declaration and will result in more people immunized.
For further information, please contact:
Tel: +972 3 607 4717
BiondVax`s estimates regarding the vaccine's future development and expected trials are forward looking information based on information in the possession of BiondVax today. These estimates may not be realized or may have different outcomes, including resulting from failure to reach trials' objectives and/or obtaining necessary funding for further development and other factors outside BiondVax's control, and materialization of any risk factors detailed in BiondVax`s shelf prospectus (Section 5.27) published 08/01/2014.
SOURCE BiondVax Pharmaceuticals Ltd