NasVax Ltd. (TASE: NSVX) announced today that it had successfully completed the first stage of Phase I clinical trials of its human intranasal flu vaccine. Hadasit Medical Research and Development Services Ltd. is conducting the trial.
Prof. Yechezkel Barenholz and Dr. Nurit Eyal founded NasVax two years ago at Meytav Technological Enterprises Innovation Center Ltd. The company is developing intranasal vaccines based on a concept by Barenholz, an experienced entrepreneur who previously developed a drug that Yissum Technology Transfer Company of the Hebrew University of Jerusalem sold directly to Johnson & Johnson (NYSE:JNJ).
NasVax has developed proprietary technology for improving vaccines. The first intranasal vaccine it developed is for flu, delivered either by spray or drops. These intranasal vaccines are designed to replace vaccines delivered by injection. The company is also considering developing vaccines against anthrax, jaundice and other diseases.
NasVax raised NIS 48 million at a company value of NIS 90 million in its IPO on the Tel Aviv Stock Exchange in December 2005.
The present Phase I clinical trial is testing the safety and effectiveness of its intranasal vaccine compound by examining the change in the level of antibodies to response to the vaccine.
The trial report states that only a few and brief minor side effects, characteristic of intranasal compounds, have been detected. The level of antibodies against all flu strains in the blood of the young participants in the trial rose significantly, compared with the level of antibodies before the vaccine was administered.
NasVax CEO Itzik Goldwaser said, “The success of the trial is an important milestone of the company’s progress. The safety and effectiveness measurements demonstrated in the human clinical trials confirm the applicability of our technology. The positive results of the trial will enable the company to make further progress towards the next clinical trials in accordance with our development plan.”
Published by Globes [online], Israel business news - www.globes.co.il - on May 7, 2006
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