BiondVax Pharmaceuticals Ltd. has successfully completed the institutional tender for an IPO on the Tel Aviv Stock Exchange (TASE) on its second try. The company’s first attempt failed to raise the amount it wanted.
BiondVax plans to raise NIS 12 million at a company value of NIS 75 million. The public tender will be held on June 7. The underwriters are Clal Finance Underwriting Ltd., IBI Underwriting Ltd., Altshuler Shacham Management Underwriters & Investments Ltd., Analyst Underwriting And Issuing Ltd., L.L. Underwriting and Investments Ltd., and Shocher Tov A - 2001 Ltd Vered Dorot Underwriting Company (1993) Ltd.
BiondVax is developing a universal flu vaccine for most existing and future strains of influenza, which will eliminate the need for annual vaccinations. The vaccine utilizes a combination of "conserved epitopes" derived from the influenza virus possessing strong immunogenic capabilities. The "conserved epitopes" are common to the vast majority of flu virus strains regardless of their antigenic drifts and shifts. The selected conserved epitopes activate the human immune system in a long-lasting and effective manner against known and future strains of the influenza virus. Examples of this are the avian flu virus or a future mutation of it.
BiondVax has completed animal trials of its vaccine and has begun Phase I human clinical trials to test its safety.
BionVax’s main shareholders are Kadima High Tech, and a group of private investors. The company lost NIS 7.7 million in 2006, mostly because of R&D costs.
Published by Globes [online], Israel business news - www.globes.co.il - on May 31, 2007
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