Vaxil Announces a Potential Coronavirus Vaccine
* LATEST NEWS * seen this before not being updated on stockhouse too.` NESS-ZIONA, Israel, Feb. 13, 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 it has completed in silico analyses and believes that it has successfully identified a corona virus (COVID-19) vaccine candidate (Vaccine Candidate). The Vaccine Candidate is based on unique and patent protected signal peptide technology, utilizing Vaxils proprietary VaxHitbioinformatics platform. The Vaccine Candidates design is also based on successful in vivo experiments testing a tuberculosis signal peptide vaccine. We are very excited to have been able to isolate a preliminary candidate that might address the current and emerging need in such a short time, said David Goren, Vaxils Chairman and Chief Executive Officer, who went on to say that we look forward to the next step of identifying resources and partners to solidify the most efficient path forward. Mr. Goren continued to explain that we have identified signal peptide combinations which we believe can be effective as a prophylactic vaccine against the current corona virus and might also demonstrate therapeutic value in the future. Vaxil plans to initiate non-GMP manufacturing followed by testing as we explore partnerships and other possibilities. Vaxil also wishes to announce that it anticipates that the private placement previously announced on January 20, 2020, pursuant to which the Company will be issuing convertible debentures with a face value of $1,000 and bearing an annual interest rate of 10% for gross proceeds of up to $200,000 will close on or around February 28, 2020