Well Leveraged: VBI Vaccines Outlines Clinical Tri
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NEW YORK, May 22, 2018 (GLOBE NEWSWIRE) -- Jeff Baxter, President and CEO of VBI Vaccines Inc. (NASDAQ: VBIV ), a commercial-stage biopharmaceutical company developing next-generation infectious disease and immuno-oncology vaccines, took time to update WSA’s investor audience regarding the company’s top 3 clinical programs. Mr. Baxter discussed the progress since his last conversation with WSA from October 2017, “At the end of October, we completed a very successful financing…[of] $72 million. That was absolutely pivotal and critical for the company given the success that we'd had in the prior months in 2017, by gaining regulatory approval to start a pivotal registration program for our prophylactic Hepatitis B vaccine, Sci-B-Vac.”
Mr. Baxter also went over VBI’s second most advanced clinical program, a prophylactic vaccine candidate targeting congenital cytomegalovirus (CMV), a leading cause of birth defects. The company recently announced positive final data from its Phase 1 study in early May 2018.
VBI Vaccines’ third program is in the area of glioblastoma (GBM), which is the deadliest form of brain cancer, and has no current standard of care. They began trial enrollment in January of this year for recurrent GBM patients who have an average survival rate of only five to 10 months. Mr. Baxter elaborated, “We will know [soon] whether or not this vaccine is working. Clearly, if it's working, it's fantastic news for the company and fantastic news for these people where there is really no other option at this point in time.”
When asked about VBI’s growth outlook, Jeff Baxter concluded, “We are on the brink of 18 months of really important human clinical data readouts across three different programs that represent a very different spectrum of risk and return. We have the Hepatitis B vaccine, which is extremely low risk and a very strong potential return. We have CMV, which is in the middle, probably 50-50. And then at the other end of the spectrum, we have the GBM vaccine which is extremely high risk, but extremely important for people with this terrible disease, and could really be a “knock out of the park” in terms of financial return for investors.”
ABOUT VBI VACCINES:
VBI Vaccines Inc. (Nasdaq: VBIV ) is a commercial-stage biopharmaceutical company developing a next generation of vaccines to address unmet needs in infectious disease and immuno-oncology. VBI’s first marketed product is Sci-B-Vac®, a hepatitis B (“HBV”) vaccine that mimics all three viral surface antigens of the hepatitis B virus; Sci-B-Vac is approved for use in Israel and 14 other countries. VBI’s eVLP Platform technology allows for the development of enveloped (“e”) virus-like particle (“VLP”) vaccines that closely mimic the target virus to elicit a potent immune response. VBI is advancing a pipeline of eVLP vaccines, with lead programs in cytomegalovirus (“CMV”) and glioblastoma multiforme (“GBM”). VBI is also advancing its LPV™ Thermostability Platform, a proprietary formulation and process that allows vaccines and biologics to preserve stability, potency, and safety. VBI is headquartered in Cambridge, MA with research operations in Ottawa, Canada and research and manufacturing facilities in Rehovot, Israel.
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FORWARD LOOKING STATEMENTS
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as SYNL or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, such statements in this release that describe the company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, and risk inherent in the operations of a company. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.
CONTACT
VBI Vaccines, Inc Nicole Anderson, Corporate Communications Email: info@vbivaccines.com
VBI Vaccines, Inc Nell Beattie, Chief Business Officer Email: ir@vbivaccines.com
The Wall Street Analyzer Juan Costello, Senior Analyst P: 347-529-5734 Email
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