Worldwide, there are many efforts underway to produce a vaccine for COVID-19. Without one, we are likely to see some kind of social distancing in place for the foreseeable future. And experts like Anthony Fauci, the director of the National Institute of Allergy and Transmittable Diseases, think it’ll take at least a year before we’ll have a vaccine that can be approved for public use. MigVax, an Israeli startup that’s associated with the Migal Galilee Research Study Institute, believes it can accelerate this procedure by quite a bit, in part, due to the fact that it had actually already dealt with constructing a framework for the Transmittable Bronchitis Infection, a coronavirus that infects chickens, and that has shown to be safe in animals.
I believe everyone is currently skeptical when it concerns COVID-19 vaccines, and in Israel alone there are multiple efforts underway, however crowdfunding platform OurCrowd is putting $12 million into MigVax to assist the team accelerate its efforts to develop an oral vaccine.
“The experiments we have performed up until now reveal that because the vaccine does not consist of the virus itself, it will be safe to utilize in immune-suppressed receivers, and has less possibilities of adverse effects,” said David Zigdon, CEO of the Migal Galilee Research Study Institute. “It uses a protein vector that can form and secrete a chimeric soluble protein which carries the viral antigen into tissue and causes the production of antibodies against the virus by the body immune system. We are now working to change our generic vaccine system to COVID-19. Using a fermentation procedure, MigVax intends to have the material ready for clinical trials within a few months.”
MigVax argues that its method would provide considerable benefits in manufacturing and cost since it utilizes bacterial fermentation to produce the vaccine, a process that’s normally well comprehended and typically utilized today. “We are currently in talks with significant tactical partners able to produce at high volume and disperse globally,” the company informs us.
“We are humbled by the chance to invest in this company, which means so much to numerous individuals,” said OurCrowd CEO Jon Medved today. “The race for a COVID-19 vaccine has to do with conserving countless lives, and we are grateful to be able to support this essential effort.”
When I last spoke to Medved earlier this year, soon prior to COVID-19 was officially deemed a pandemic, he was already thinking about how his existing portfolio companies could contribute in battling the illness. No doubt, however, whoever handles to first establish a safe vaccine also stands to acquire economically, which’s not something most VC firms would deny, so it’s no surprise that we now see financing for startups in this area, too.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.