BiondVax Gets $2.8 Mln Investment From Check Point Chairman's Angels High Tech

(RTTNews) - BiondVax Pharmaceuticals Ltd. (BVXV), an Israel-based clinical phase biopharmaceutical company developing a universal flu vaccine, Monday announced a $2.8 million investment from Angels High Tech Investments Ltd.

The company said Angels High Tech has agreed to invest NIS 10.9 million, or approximately $2.83 million, in exchange for 33.8 million ordinary BiondVax shares on the Tel Aviv Stock Exchange, equivalent to 844,000 NASDAQ listed ADS, at the December 29, 2016 Tel Aviv closing market price.

Following the transaction, Angels Investments will hold 19.99% of all issued and outstanding share capital of the Company.

Angels Investments is owned by Marius Nacht, Co-founder and Chairman of Check Point (CHKP). Angels' healthcare and life science portfolio is managed by aMoon Partners which is co-led by Dr. Yair Schindel and Marius Nacht.

Ron Babecoff, BiondVax's Founder, President and CEO noted, "This investment is a vote of confidence in BiondVax and its universal influenza vaccine candidate. We are now better positioned to complete our development plans and commercialize our vaccine worldwide. This strategic partnership, together with clinical results and ongoing clinical trial collaborations in Europe and the US (NIH) will enable us to proceed confidently into Phase 3 as planned."