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NESS-ZIONA, Israel, Oct. 26, 2020 (GLOBE NEWSWIRE) -- 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 that on October 26, 2020, it has entered into a cooperative research and development agreement (CRADA) with USAMRIID under which USAMRIID will test CorVax™ for its ability to specifically prevent COVID-19 in mice.

Vaxil recently reported that its CorVax™ successfully generated an immune response in the experiment carried out at the Allergy and Clinical Immunology Unit at the Medical Research, Infrastructure, and Health Services Fund of the Tel Aviv Sourasky Medical Center in Israel by Dr. David Hagin. As a result, the Company is progressing to the next study to test whether this immune response is specific enough to COVID-19 to provide protection against the virus in a mouse model.

As scientists and companies race to find vaccines to prevent COVID-19 infection, some platforms are focused on mRNA, others on viral vectors, viruses and various subunits. Vaxil is, to the best of the Company’s knowledge, the only company working with signal peptides, which offer unique advantages of efficacy in stimulating a broad immune response while achieving a suitable safety profile. Vaxil’s signal peptide platform has proven safety in a phase 1/2a study in oncology.

“The initial immunogenicity data sound intriguing,” said Dr. Joseph W. Golden, a principal investigator in USAMRIID’s virology division. “We look forward to evaluating this vaccine formulation for its potential to protect against SARS-CoV-2 in our mouse models.”

The work to be performed by USAMRIID will be financed out of the Company’s existing working capital, according to David Goren, Vaxil’s Chairman and Chief Executive Officer. The team hopes to secure additional funding for future studies.

“We are pleased to have USAMRIID assess our potential COVID-19 vaccine,” said Goren. “The work in the US will support and strengthen the experiments we have already done in Israel in our in-vivo study. Together, the combined research will help the Company plan and execute more efficient pre-clinical and clinical programs.”

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.

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™ 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.

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.

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.

About the U.S. Army Medical Research Institute of Infectious Diseases

For over 50 years, USAMRIID has provided leading edge medical capabilities to deter and defend against current and emerging biological threat agents. The Institute is the only laboratory in the Department of Defense equipped to safely study highly hazardous viruses requiring maximum containment at Biosafety Level 4. Research conducted at USAMRIID leads to medical solutions - vaccines, drugs, diagnostics, information, and training programs - that benefit both military personnel and civilians. Established in 1969, the Institute plays a key role as the lead military medical research laboratory for the Defense Threat Reduction Agency's Joint Science and Technology Office for Chemical and Biological Defense. USAMRIID is a subordinate laboratory of the U.S. Army Medical Research and Development Command. For more information, visit http://www.usamriid.army.mil.

[The information contained in this press release does not necessarily reflect the position or the policy of the Government and no official endorsement should be inferred.]

CONTACT INFORMATION
For further information please visit http://vaxil-bio.com/ or contact:
David Goren, CEO -- info@vaxil-bio.com, +972 (52) 720-6000