Vaxil Appoints a Special Advisor to the Board of Directors – GlobeNewswire

February 01, 2021 08:32 ET | Source: Vaxil Bio Ltd.

FURTHER UPDATE ON USAMRIID CHALLENGE AND ADDITIONAL EUROPEAN PATENT GRANTED FOR VAXILS ANTICANCER ANTIBODY PLATFORM

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NESS-ZIONA, Israel, Feb. 01, 2021 (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 Dr. Michael Berelowitz has been appointed as special advisor to its board.

Dr. Michael Berelowitz, formerly Pfizers Head of Clinical Development and Medical Affairs (Specialty Care), has enjoyed a 50+ year career in the biomedical sciences across the clinical practice of medicine, basic and clinical research and teaching, along with senior responsibilities in administration, budget management, and people leadership in academia and pharmaceutical companies/industry settings. Michael has also served on company boards, including public companies. This diverse experience provides Michael with a unique and valuable understanding of the world's biopharmaceuticals and their future. Dr. Berelowitzs full bio is detailed below.

Dr. Berelowitz has been granted 125,000 stock options (the "Options") pursuant to theCompany's stock option plan, exercisable into an equal amount ofcommon shares in the capital of the Company (Common Shares) at an exercise price of CAD$0.42 per Common Share. The Options vest in four equal installments, with the first installment on March 31, 2021, and the subsequent installments on June 30, 2021, September 30, 2021 and December 31, 2021 respectively. All the Options expire on February 1, 2026.

The company further updates that the USAMRIID experiment is proceeding on schedule, including the COVID-19 challenge, which was administered late last week.

The Company further advises that it has successfully obtained a European patent for its anticancer antibody platform - European Patent EP2756307B1 entitled Antibodies directed against signal peptides, methods and uses thereof. This granted patent provides broad patent protection for an antibody for use in the treatment of a MUC1 expressing cancer, as well as for an ex vivo method of diagnosing cancer in a subject and an ex vivo method for determining the suitability for treatment of a subject suffering from a MUC1 expressing cancer. Kits for practicing these methods are also included. This patent strengthens Vaxil Bios broad patent coverage with regards to its proprietary anti-cancer and anti-pathogenic portfolio.

We are very pleased to welcome Michael as a special advisor to our board. His extensive and relevant experience will significantly add to our talented team of executives and scientists. I am excited to be able to bring his medical background together with business acumen to support our portfolio and future growth as we progress through preclinical and future clinical phases, said David Goren, Vaxils Chairman and Chief Executive Officer, and continued, the granting of an additional European patent bolsters our already robust patent portfolio and demonstrates our commitment to further expand our pipeline across oncology and infectious diseases.

Full Bio for Dr. Michael Berelowitz.MB.ChB, FCP(SA), FACP, MBA

Dr. Berelowitz grew up and received his education in Zimbabwe and South Africa. He attended the University of Cape Town Medical School, graduating (MB.ChB) in 1968. He completed his internship, residency training in Internal Medicine (FCP(SA)), and fellowship training in Endocrinology and Metabolism at the affiliated Groote Schuur Hospital.

In 1977 Dr. Berelowitz moved to the United States to pursue a career in academic medicine - at the University of Chicago - Michael Reese Hospital (1977-1981), University of Cincinnati College of Medicine (1981-1985), and SUNY Stony Brook School of Medicine (1985-1996) as Professor of Medicine, Pharmacology and Biophysics where he led the Division of Endocrinology and Metabolism.

In 1996 Michael joined Pfizer Inc and over the next 15 years enjoyed positions of increasing responsibility leading the Diabetes unit, Cardiovascular group, Global Medical organization and finally serving as Senior Vice President and Head of Clinical Development and Medical Affairs in the Specialty Care Business Unit (from 2009 - 2011).

Michael continues to be active in bringing his experiences to bear as a member of the Board of Directors of Recro Pharma and as Scientific Advisor to Kamada Ltd. and DIR Technologies. In 2020, he was elected to serve on the International Board of Directors of the Weizmann Institute.

Over the years, Michael has chaired the Task Force on Research of the New York State Council on Diabetes, served on the board of directors of the American Diabetes Association and the Clinical Initiatives Committee of the Endocrine Society, and on several editorial boards, includingThe Journal of Clinical EndocrinologyandMetabolism, Endocrinology,Reviews in Endocrine and Metabolic DisordersandClinical Diabetes.

Dr. Berelowitz has authored and co-authored more than 100 peer-reviewed journal articles and book chapters in the areas of pituitary growth hormone regulation, diabetes, and metabolic disorders.

ABOUT VAXIL

The company posts periodic updates through videos from the official companys youtube channel https://www.youtube.com/channel/UC0M029aN8g6beW09Drgt0dQ

Vaxil is an Israeli immunotherapy biotech company focused on its novel approach to targeting prominent cancer markers and infectious diseases. Its lead product ImMucin successfully completed a Phase 1/2 clinical trial in multiple myeloma for which it received orphan drug status from the FDA and EMA. The company aims to continue to develop ImMucin, a COVID-19 and a tuberculosis vaccine / treatment that has demonstrated promising preliminary results with further preclinical evaluation planned. Additional indications and mAb candidates are under evaluation as immuno-oncology and infectious disease treatments alone and in combination with other treatments.

Vaxil exploits the unique properties of signal peptide domains on crucial proteins to develop targeted therapies against cancer targets and infectious disease pathogens. These signal peptide domains are identified by VaxHit, Vaxils proprietary bioinformatic approach. These signal peptides induce a robust T- and B-cell response across wide and varied HLA subtypes, while acting as true, universal neoantigens. The peptide platform targets these cells by educating or specifically activating the immune system to recognize and attack the affected cells. In addition, Vaxils mAb platform directly recognizes the target protein expressed on malignant cells and recruits other elements of the immune system to lyse those cells.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer: The Company cautions that COVID-19 Vaccine Development is still under early stage research and development and is not making any express or implied claims that it has the ability to eliminate the COVID-19 virus at this time. The TSX Venture Exchange Inc. has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, the results of exploration activities -- that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (seewww.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States or elsewhere. These securities have not been, and will not be, registered in the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.

CONTACT INFORMATION For further information please visithttp://vaxil-bio.com/or contact: North Equities, info@northequities.com David Goren, CEO -- info@vaxil-bio.com, +972 (52) 720-6000 Company Youtube channel

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Vaxil Appoints a Special Advisor to the Board of Directors - GlobeNewswire