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NESS-ZIONA, ISRAEL – October 13, 2020 – VAXIL BIO LTD. (“Vaxil” or the “Company”) (TSX VENTURE: VXL), an innovative immunotherapy biotech company specializing in cancer and infectious diseases, is pleased to announce the initiation of the pre-clinical program for ImMucin™ in combination with the E-selectin binding polymer-based therapeutic (“P-Esbp”), which Vaxil licensed for development and commercialization from BGN Technologies, the technology transfer company of Ben-Gurion University of the Negev, Israel (“BGU”).
The pre-clinical program will be led by Prof. Ayelet David from BGU to assess the potential for ImMucin and the P-Esbp separately and in combination for the treatment of solid tumors including breast and ovarian cancer.
“We are excited to partner with Vaxil on this preclinical program and look forward to providing meaningful results towards advancing this unique therapeutic approach for arresting cancer, as well as inflammatory diseases” said Prof. David.
P-Esbp was invented by Prof. Ayelet David, Head of the Drug Targeting and Nanomedicine Laboratory, Department of Clinical Biochemistry and Pharmacology, Prof. Gonen Ashkenasy from the Department of Chemistry and their joint PhD student, Yosi Shamay, all from the BGU.
“I am proud to advance our pre-clinical oncology research program, in conjunction with our research partner Prof. Ayelet David and her team at Ben Gurion University. I believe we can have significant impact in cancer immunotherapy. This program will run over the course of the next year and a half, after which we will evaluate results and the potential for clinical trials using ImMucin™ / P-Esbp alone and in combination. We look forward to working on this oncology program with Prof. David, in addition to continuing to advance CorVax™, our potential COVID-19 Vaccine,” said David Goren, Vaxil’s Chairman and Chief Executive Officer, and continued, “The BGU research will also aim to confirm the potential of ImMucin™ in oncology care following the successful clinical trial done several years ago.”
P-Esbp has been shown to interfere with E-selectin-mediated interactions, thus blocking leukocyte and cancer cells recruitment to inflamed and cancerous tissues, which reduced colonization of circulating cancer cells in secondary organs. In addition, it was also shown to inhibit leukocyte recruitment and inflammation in animal models of liver injury and atherosclerosis. These results combined demonstrate the promising therapeutic potential of E-selectin targeted therapy for inhibiting inflammation and arresting cancer disease progression as well as other diseases where inflammation plays a role.
The work performed by Prof. David at BGU will be supported by the Company’s existing working capital.
Other company updates
Further to our press from September 17, 2020 the Company wishes to clarify that interest amounting to $2,209 was converted into 20,086 Common Shares at the market price of the Common Shares, being $0.11, and not $0.10 as previously reported.
Vaxil is an Israeli immunotherapy biotech company focused on its novel approach to targeting prominent cancer markers and infectious diseases. Its lead product ImMucin™ successfully completed a Phase 1/2 clinical trial in multiple myeloma for which it received orphan drug status from the FDA and EMA. The company aims to continue to develop ImMucin™, a COVID-19 and a tuberculosis vaccine / treatment that has demonstrated promising preliminary results with further preclinical evaluation planned. 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™, Vaxil’s proprietary bioinformatic approach. These signal peptides 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.
The Company is not making any express or implied claims that it has completed developing or will be successful in developing a COVID-19 (or SARS-CoV-2) vaccine at this time.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About BGN Technologies
BGN Technologies is the technology transfer company of Ben-Gurion University, the third largest university in Israel. BGN Technologies brings technological innovations from the lab to the market and fosters research collaborations and entrepreneurship among researchers and students. To date, BGN Technologies has established over 100 startup companies in the fields of biotech, hi-tech, and cleantech, and has initiated leading technology hubs, incubators, and accelerators. Over the past decade, BGN Technologies has focused on creating long-term partnerships with multinational corporations such as Deutsche Telekom, Dell-EMC, PayPal, and Lockheed Martin, securing value and growth for Ben-Gurion University as well as the Negev region. For more information, visit the BGN Technologies website.
Disclaimer: The Company cautions that COVID-19 Vaccine Development is still under early stage research and development and is not making any express or implied claims that it has the ability to eliminate the COVID-19 virus at this time. The TSX Venture Exchange Inc. has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the results of exploration activities — that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States or elsewhere. These securities have not been, and will not be, registered in the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.