Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Biotechnology company Vaxil Bio (TSXV:VXL) has begun a preclinical program to test its COVID-19 vaccine candidate
  • The company first announced the discovery of a potential candidate in February, and now has non-GMP vaccine material on hand
  • Vaxil has already filed for a number of US patents to do with treating the virus
  • Today, the company applied for an additional patent in connection with COVID-19
  • Vaxil Bio (VXL) is down 2.78 per cent, and is currently trading for C$0.18 per share

Biotechnology company Vaxil Bio (TSXV:VXL) has begun a preclinical program to test its COVID-19 vaccine candidate. 

In February this year, the company announced its belief that it had identified a potential vaccine candidate for the virus.

The candidate is based on patent-protected signal peptide technology, using Vaxil’s proprietary VaxHit bioinformatics platform. It is also based on successful in vivo experiments, testing a tuberculosis signal peptide vaccine.

Finally, the company now has non-GMP vaccine material on hand, and can begin testing the efficacy of the candidate. 

In early March, Vaxil announced its applications for a US patent on a coronavirus vaccine. 

The patent would provide broad protection for novel vaccines, pharmaceutical compositions, and methods for treating and preventing infectious disease. In particular, the patent would protect the methods for producing a peptide vaccine against coronaviruses. 

Today, the company has applied for an additional patent in connection with COVID-19. 

Vaxil’s Chairman and CEO, David Goren, commented on the developments.

“This is a very exciting moment for us, as we begin our lab work, less than six weeks from the first discovery. We are pleased with the progress that we have made to date on the development of our potential COVID-19 vaccine. 

“During the following weeks, we will work to advance our preclinical research for the development of this much-needed vaccine. We look forward to sharing additional information as we progress through our research program,” David said. 

Vaxil Bio (VXL) is down 2.78 per cent to C$0.18 per share, as of 11:10am EST.

More From The Market Herald
The Market Herald Video

" Algernon Pharmaceuticals (CSE:AGN) files for approval for Phase 1 DMT Human Stroke Study

Algernon (AGN) has filed a Clinical Trials of Investigational Medicinal Products and Ethics Approval application with the UK MHRA.

" Telo Genomics (TSXV:TELO) advances lead product and Implements automation to workflow

Telo Genomics (TELO) has announced a study for its lead product for smoldering multiple myeloma (SMM) patients and completed research and development projects.

" Cardiol Therapeutics (TSX:CRDL) appoints leaders in cardiovascular medicine to scientific advisory board

Cardiol Therapeutics (CRDL) has appointed Dr. Paul M. Ridker, Dr. Bruce McManus, and Dr. Joseph A. Hill to its scientific advisory board.