BiondVax receives additional grant funding

 BiondVax Pharmaceuticals Ltd. (an Israel clinical phase biopharmaceutical company) announced that the Israel Innovation Authority (IIA), formerly known as the Office of the Chief Scientist, agreed to fund up to 40% of a NIS 2.7 million (approximately US$ 750,000) budget towards ongoing development of M-001, the Company's Universal Flu Vaccine candidate.

In six previously completed human clinical trials, including the recently completed Phase 2b trial held in Europe, BiondVax's M-001 was shown to be safe and immunogenic towards multiple flu strains. Including this grant approval, since 2006 the IIA has granted over US$ 6 million in funding to BiondVax. The non-dilutive grants will become repayable from royalties generated from future sales of BiondVax's vaccine, once commercially available on the market.

Dr. Tammy Ben-Yedidia, Chief Scientific Officer of BiondVax commented, "The ongoing support of our program by the IIA is proof of their long-term confidence in BiondVax's innovative flu vaccine. This grant, together with other generous recently approved financing to the company brings us closer to launching a Phase 3 clinical trial."