MyMD Pharmaceuticals Subsidiary Oravax Medical Preparing to Commence Clinical Trials for Oral COVID-19 Vaccine

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Oravax’s virus-like particle (VLP) vaccine being tested against COVID-19 variants including Delta Oral COVID-19 vaccine being developed as both a standalone vaccine and a booster for people previously vaccinated MYMD is evaluating options for its investment in Oravax, including distributing its holdings to shareholders BALTIMORE–(BUSINESS WIRE)–MyMD Pharmaceuticals, Inc. (Nasdaq: MYMD) (“MyMD” or “the Company”), a clinical stage pharmaceutical company committed to extending healthy lifespan by focusing on developing two therapeutic platforms, today reported that its subsidiary Oravax Medical Inc. (“Oravax”), partially owned with its majority partner Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) (“Oramed”), is preparing to commence clinical trials for its oral COVID-19 vaccine, first in Israel, then in additional clinical sites internationally. Oravax’s COVID-19 vaccine is being developed for use both as a standalone vaccine and as a booster for people who have been previously vaccinated for COVID-19. Oramed and MYMD are currently evaluating several options with respect to their interest in Oravax including a potential distribution of Oravax shares to both Oramed and MYMD shareholders. This would make Oravax a publicly held company that may then apply for listing on Nasdaq if eligible. MyMD’s ownership of Oravax consists of 13% of Oravax’s outstanding shares of capital stock and a 2.5% royalty on all future net sales. “The potential spin-off of Oravax could be beneficial to MyMD shareholders through our ownership stake and due to Oravax’s strong position in the public markets as an oral vaccine developer,” said Josh Silverman, Chairman of the Board of MyMD Pharmaceuticals. “Oravax’s studies of its VLP vaccine for COVID-19 should be of particular interest to MyMD shareholders given our own upcoming Phase 2 clinical trial of MYMD-1 to treat immune mediated depression and cytokine elevation in COVID-19 patients. We are excited about the possibilities for both technologies in the global fight against COVID-19.” As…

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Source : MyMD Pharmaceuticals Subsidiary Oravax Medical Preparing to Commence Clinical Trials for Oral COVID-19 Vaccine

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