Full Press Release Details
BiondVax and European Investment Bank sign definitive amendment extending maturity of
loan until December 2027 with additional terms
in support of BiondVax's new strategy
10, 2022 /PRNewswire/ -- BiondVax Pharmaceuticals Ltd. (Nasdaq: BVXV), a biopharmaceutical company focused on developing,
manufacturing, and commercializing innovative biological medicinal products for the prevention and treatment of infectious diseases and
other illnesses, announced today the successful conclusion of negotiations and formal approval by the European Investment Bank (the "EIB")
of new terms of its outstanding 24 million loan (the "Loan") to BiondVax.
previously announced on March 14, 2022, that general terms of the restructuring had been agreed upon in principle.
Reichman, CEO of BiondVax, commented, "I am extremely pleased to announce the achievement of another major milestone in the
relaunch of BiondVax; another promise made, promise kept'. With the cooperation and support of the EIB, we have signed an amendment
to our loan facility extending the maturity to December 2027 and clearing the path for us to aggressively pursue development of a nanosized
antibody (NanoAb) pipeline under an exclusive license and related collaboration agreements with the Max Planck Institute for Multidisciplinary
Science and University Medical Center Gottingen, Germany. Since the March 2022 announcement of an agreement in principle to restructure
the loan, all parties have worked diligently and in good faith to finalize documentation consistent with the announced terms, and we
are grateful to our counterparties at the EIB for their efforts in this regard and support of our strategy and our team. We can now devote
even more attention to the successful development of NanoAbs that address significant unmet medical needs in a patient friendly, efficacious
and cost-efficient manner."
Pharmaceuticals Ltd. (Nasdaq: BVXV) is a biopharmaceutical company focused on developing, manufacturing and commercializing innovative
biological medicinal products for the prevention and treatment of infectious diseases and other illnesses. Since its inception, the company
has executed eight clinical trials including a seven country, 12,400 participant Phase 3 trial of its vaccine candidate and has built
a state-of-the-art manufacturing facility for biopharmaceutical products. With highly experienced pharmaceutical industry leadership, BiondVax
is aiming to develop a pipeline of diversified and commercially viable products and platforms beginning with an innovative nanosized
antibody (NanoAb) pipeline. www.biondvax.com.
Joshua E. Phillipson | +972 8 930 2529 | j.phillipson@biondvax.com
press release contains forward-looking statements within the meaning of the Private Litigation Reform Act of 1995. Words such as "expect,"
"believe," "intend," "plan," "continue," "may," "will," "anticipate,"
and similar expressions are intended to identify forward-looking statements. All statements, other than statements of historical facts,
included in this press release regarding strategy, future operations, future financial position, future revenue, projected expenses,
prospects, plans and objectives of management are forward-looking statements. Examples of such statements include, but are not limited
to, statements regarding the therapeutic and commercial potential of NanoAbs. These forward-looking statements reflect management's current
views with respect to certain current and future events and are subject to various risks, uncertainties and assumptions that could cause
the results to differ materially from those expected by the management of BiondVax Pharmaceuticals Ltd. Risks and uncertainties include,
but are not limited to, the risk that the therapeutic and commercial potential of NanoAbs will not be met; the risk of a delay in the
preclinical and clinical data for NanoAbs, if any; the risk that BiondVax may not be able to secure additional capital on attractive
terms, if at all; risks relating to the COVID-19 (coronavirus) pandemic; BiondVax's ability to acquire rights to additional product opportunities;
BiondVax's ability to enter into collaborations on terms acceptable to BiondVax or at all; timing of receipt of regulatory approval of
BiondVax's manufacturing facility in Jerusalem, if at all or when required; the risk that the manufacturing facility will not be able
to be used for a wide variety of applications and other vaccine and treatment technologies, and the risk that drug development involves
a lengthy and expensive process with uncertain outcomes. More detailed information about the risks and uncertainties affecting the Company
is contained under the heading "Risk Factors" in the Company's Annual Report on Form 20-F filed with the Securities and Exchange
Commission on March 25, 2022. BiondVax undertakes no obligation to revise or update any forward-looking statement for any reason.