TORONTO, ON and NESS-ZIONA, ISRAEL--(Marketwired - January 04, 2017) - Vaxil Bio Ltd. (TSX VENTURE: VXL) -- Following Vaxil's recent announcement that it had received encouraging preliminary results for its ImMucin™ in combination with checkpoint inhibitors and in regard to ImMucin's neoantigen potential, BioNap Research released a coverage report entitled, "Vaxil Bio's ImMucin is a novel neoantigen with significant anticancer potential." Vaxil was also highlighted amongst a handful of small-cap immunotherapy companies to watch in 2017 in an article entitled "A Look at Cancer Immunotherapy and some key players 2017" which can be accessed via www.bionapcfa.com/2017/01/a-look-at-cancer-immunotherapy-and-some.html.
Jason Napodano, senior equity analyst at BioNap Consulting, commented that, "one company pioneering new breakthroughs in cancer immunotherapy is Vaxil Bio Ltd (VXL.V)." The company has diligently advanced its immunotherapy platform and published its research and clinical results in top medical journals.
The full research report can be accessed here: http://www.bionapcfa.com/2016/12/vaxil-bios-immucin-is-novel-neoantigen.html.
Board Changes and Options Grant
Vaxil also reports that Drs. Gorecki and Carmon have resigned their positions as directors of the board, effective immediately. Dr. Babaei, Chairman of the Board commented, "We thank Drs. Carmon and Gorecki for their valuable contributions over the last several years to the Company including the successfully transition from the Tel Aviv Stock Exchange in Israel to the TSX-Venture exchange. Both Drs. Carmon and Gorecki have been assets to Vaxil and their many contributions to progressing various R&D programs are appreciated by the Company. On behalf of the board of directors and the Vaxil management team, we wish them both the very best in their future endeavors. Post-transition, we believe the next phase of Vaxil's growth is a very exciting one, and we are looking to share our progress with our partners, investors and patients."
Vaxil also announces its intention to issue 2.5 Million options to various board members, management, and consultants, which will be exercisable for a period of 5 years at $0.125. Vaxil believes options are an excellent way to incentivize its key team members in a non-cash manner, through aligning personnel with the Company's long term vision, and as it embarks on its next phase of growth.
Vaxil is a cutting edge Israeli-Canadian immuno-oncology biotech with its R&D based in the Weizmann Science Park and listed on the TSX-V. Vaxil specializes in the development of immunotherapy products for the treatment of cancer and infectious diseases by activating the patient's immune system. Vaxil immunotherapy products are based on the proprietary VaxHit™ platform. The first product developed through VaxHit™ is known as ImMucin™, a therapeutic cancer vaccine comprised of the signal peptide domain of the MUC1 tumor-associated antigen (TAA). Vaxil has shown that ImMucin™ possesses a high density of T- and B-cell epitopes while preserving MUC1 specificity. MUC1 (mucin 1) is a cell surface glycoprotein that is highly expressed by carcinomas and hematological tumors, including multiple myeloma. Recently, Vaxil has shown that ImMucin™ can potentially have strong anti-tumor activity when used in combination with checkpoint inhibitors. Additionally, ImMucin™ represents a new class of neoantigens, with the potential to strongly stimulate the body's immune system.
Vaxil has completed an initial Phase 1/2 clinical trial (n=15) with ImMucin™ demonstrating the vaccine to be safe and highly tolerable in patients with multiple myeloma (MM). A robust immune response was seen in all patients treated with ImMucin™, with the majority of patients achieving stable disease. A Phase 2 program is expected to commence in 2017 with ImMucin™ in a selected population of multiple myeloma patients. ImMucin was granted an Orphan Drug status for use in Multiple Myeloma in the U.S and the EU in 2015
Website with full presentation and all medical articles freely downloadable: www.VaxilBio.com
Link to a film about the company's technology: https://www.youtube.com/watch?v=B5yFOjrKSxE
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