BiondVax Pharmaceuticals, Ltd. (NASDAQ: BVXV) operates as a biopharmaceutical company, which focuses on the research, development, manufacturing, and commercialization of innovative products to treat and prevent infectious diseases. Shares of the biopharma company are soaring 95% through afternoon trading on Wednesday, December 22, 2021. Over the past three months, BiondVax Pharmaceuticals has seen average daily volume of 78,960 shares. However, volume of 130.75 million shares or dollar volume of $370.02 million, has already exchanged hands through late trading Wednesday.
Shares of BiondVax Pharmaceuticals are skyrocketing after the company announced that it has entered into definitive agreements with Max Planck Society (MPG), the parent company of the Max Planck Institute of Biophysical Chemistry and the University Meical Center Gottingen in Germany. The two groups will focus on collaborating on the development and commercialization of innovative COVID-19 nanosized antibodies. The agreement is part of a larger collaboration agreement, which is estimated to be signed in January 2022 and will cover additional infectious diseases.
In in-vitro studies, nanosized antibodies were shown to have superior capabilities of neutralizing the COVID-19 virus and its variants compared to currently-available monoclonal antibody cocktails. The nanosized antibodies hold smaller drug concentrations than existing treatments and can be produced at a lower cost. BiondVax estimates preclinical studies to be completed in 2022 and first in-human clinical trials for 2023.
Mr. Amir Reichman, BiondVax’s CEO, commented, “As Omicron’s recent and rapid emergence makes clear,improved therapeutics are needed to bring COVID-19 under control. The innovative COVID-19 NanoAb candidates offer the potential for a superior therapeutic platform. Overall, the NanoAb platform is an incredible opportunity for BiondVax. It will serve as a basis for an exciting new pipeline of commercially attractive products to address unmet therapeutic needs of diseases such as psoriasis, psoriatic arthritis, asthma, and macular degeneration. The technology is a great fit to our manufacturing site in Jerusalem and our experience and expertise in biological drug development. I wish to thank Professors Görlich and Dobbelstein for their enthusiasm for this project, and Max Planck Innovation’s technology transfer team including Dr. Dieter Link for their assistance in developing this innovative collaboration. BiondVax is in the process of a transformative turnaround, and I am highly confident that these NanoAb therapies present compelling commercial potential and will address important healthcare needs.”
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