BiondVax Pharmaceuticals Ltd. announced receipt of supportive minutes of its recent Scientific Advice meeting with the Paul Ehrlich Institute (PEI) in Germany. The Scientific Advice addressed preclinical, clinical, and manufacturing development plans for the COVID-19 NanoAb therapy that BiondVax is developing based on an exclusive license from Max-Planck-Innovation GmbH and an accompanying research collaboration with the Max Planck Institute for Multidisciplinary Sciences and University Medical Center Göttingen. PEI Scientific Advice is generally considered a first key step towards regulatory approval.

It also informs Germany's pharmaceutical regulatory authority of new pharmaceutical product developments. While alignment with PEI advice is not a guarantee for marketing approval, it provides important advice regarding the scientific and regulatory principles for development of the COVID-19 NanoAb. Therefore, a company's alignment with PEI advice is widely considered a key drug development milestone.

BiondVax's COVID-19 NanoAb is being developed as a patient friendly primary care product that may be self-administered through inhalation directly to the site of infection. Other valuable competitive advantages over existing therapies, demonstrated to-date in lab tests, include stability at higher temperatures, superior binding affinity, and more efficient production. With the expectation that COVID-19 will continue to circulate while public interest in repetitive vaccinations wanes, the Company believes that these attributes position a successfully developed product to capture significant market share.