TEL AVIV (Reuters) — Israeli venture investing platform OurCrowd said on Wednesday it would lead a US$12 million investment in the newly formed MigVax Corp, which plans to develop a novel COVID-19 vaccine.
MigVax, an affiliate of the Migal Galilee Research Institute, is pioneering the effort to develop a vaccine against COVID-19, OurCrowd said. It has previously developed a vaccine against infectious bronchitis virus, a coronavirus strain which causes bronchial disease affecting poultry.
“We are now working to adjust our generic vaccine system to COVID-19,” said David Zigdon, CEO of Migal. “Using a fermentation process, MigVax aims to have the material ready for clinical trials within a few months.”
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Reporting by Steven Scheer
Image: Working on the coronavirus vaccine at the Migal Galilee research Institute. OurCrowd hopes to help develop a response to this horrific disease
(Migal Galilee Research Institute)
