MyMD Pharmaceuticals Investment Company Oravax Medical Signs Cooperation and Purchase Agreement for Initial Pre-Purchase of 10 Million Doses of Oral COVID-19 Vaccine to be Commercialized in Southeast Asia

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In addition to pre-purchase order, parties have agreed to negotiate potential follow-on orders that could be significant BALTIMORE–(BUSINESS WIRE)–MyMD Pharmaceuticals, Inc. (Nasdaq: MYMD) (“MyMD” or “the Company”), a clinical-stage pharmaceutical company committed to extending healthy lifespan, announced today that its investment company Oravax Medical Inc. (“Oravax”), partially owned with its majority partner Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) (“Oramed”), has signed a Cooperation and Purchase Agreement with Vietnam-based Tan Thanh Holdings Investment Joint Stock Company to pre-purchase Oravax’s oral COVID-19 vaccine, currently in development. The agreement is for an initial pre-order of 10 million doses of oral COVID-19 vaccines from Oravax and is comprised of milestone payments. The parties have agreed to negotiate potential follow-on orders that could be significant. The agreement grants Tan Thanh Holdings the right to sell Oravax’s oral vaccine in development throughout the Association of Southeast Asian Nations (ASEAN) which includes Vietnam, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore and Thailand. In a statement, Oramed CEO and Oravax Chairman Nadav Kidron said, “This pre-purchase of our oral COVID-19 vaccine in development represents a major milestone for Oravax Medical and another step forward in the implementation of our long-term strategy. With the dramatic increase in positive cases of the Omicron variant, the global need for an oral vaccine that protects against current and future variants is crucial. An oral COVID-19 vaccine would significantly improve vaccination logistics and reduce costs. We view Tan Thanh Holdings as an ideal partner to bring our vaccine to Vietnam and the ASEAN region.” Oravax’s oral virus-like particle (VLP) vaccine in development targets three SARS CoV-2 virus surface proteins, including proteins less susceptible to mutation, thus making the vaccine potentially more effective against current and future variants of the COVID-19 virus. Oravax’s VLP vaccine technology is highly scalable for manufacturing and is…

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Source : MyMD Pharmaceuticals Investment Company Oravax Medical Signs Cooperation and Purchase Agreement for Initial Pre-Purchase of 10 Million Doses of Oral COVID-19 Vaccine to be Commercialized in Southeast Asia

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