BioVaxys Technology Corp. (CSE:BIOV, OTCQB:BVAXF) told investors it has extended its research collaboration with The Ohio State University again as a new variant of COVID-19 (Covid) adds to public health risks in the US and globally.
The company noted that this is the second 12-month extension of the collaboration since 2021 and covers SARS-CoV-2, SARS-CoV-1, and pan-sarbecovirus vaccine research.
BioVaxys said there are growing concerns about the EG.5, which became the dominant Covid variant in the US in July 2023. Along with the increasing global prevalence, the World Health Organization recently classified EG.5 as a “variant of interest,” meaning it is the result of genetic changes.
Additionally, it said EG.5 has one particular mutation that is known to evade some of the immunity from a prior infection or vaccination.
"We were very excited with the interim results from the preclinical work previously done on BVX-0320 for SARS-CoV-2 which demonstrated a good emerging tolerability profile with no observed side effects or noteworthy clinical observations,” BioVaxyx president and chief operating officer Kenneth Kovan said.
“With the rising prevalence of EG.5, and a high likelihood of continued emergence of variants, we feel there is value in continuing this promising research jointly with the team at The Ohio State University via potential non-dilutive or grant funding sources, as the Company is focusing its own internal resources on our cancer vaccine program and OTC women's healthcare products in the USA.”
BioVaxys also noted the announcement earlier this year by the Biden Administration of NextGen, a $5 billion program to accelerate the development of next-generation Covid vaccines and treatments.
"Along with NIH, DoD, and other grant solicitations, we will be looking at opportunities through the NextGen program,” Kovan added.
The company recently received its System for Award Management (SAM) registration from the US Government, which is the official system for managing the process for receiving and overseeing US Federal grants or financing opportunities.
Contact the author at stephen.gunnion@proactiveinvestors.com