BiondVax Shares More Than Double On Deal For Nanosized Covid-19 Antibody Therapy
By Sam Boughedda
Investing.com — BiondVax Pharmaceuticals Ltd ADR (NASDAQ:BVXV), the biopharmaceutical company focused on infectious diseases, saw its shares more than double Wednesday. As of this writing they are up 92%.
The rise — to a high of $3.49 per share — came on the back of news that the company has signed agreements with the Max Planck Society, and the University Medical Center Göttingen, for the development and commercialization of Covid-19 nanosized antibody therapies. This builds on news from October, where BiondVax said it had signed a term sheet with Max Planck and the University Medical Center Göttingen to enter into a five-year research collaboration with an option for BiondVax to licence VHH antibodies.
"As Omicron's recent and rapid emergence makes clear, improved therapeutics are needed to bring COVID-19 under control. The innovative COVID-19 NanoAb candidates offer the potential for a superior therapeutic platform," Amir Reichman, BiondVax's CEO.
BiondVax said the lead nano-antibody candidates for the Covid-19 program exhibit a "strong competitive edge over existing COVID-19 therapies."
They added that the agreements are part of a wider collaboration, expected to be signed in January 2022, covering the development and commercialization of nano-antibodies for numerous other diseases with large market sizes.
BiondVax is to lead the development and commercialization with an exclusive worldwide license. Human clinical trials results are anticipated in 2023.
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