Vaxil Bio Proposed Reverse Takeover with Copper Bullet Terminated and Update of Research Activities

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NESS-ZIONA, Israel, March 04, 2024 (GLOBE NEWSWIRE) — Vaxil Bio Ltd. (“Vaxil” or the “Company”) (TSXV:VXL) announces that further to press release from January 10, 2024 with Copper Bullet Mines Inc., (“CBMI”), the Company has received a notice of termination of the letter of intent between the Company and CBMI.

The Company will continue to actively explore other strategic options for maximizing shareholder value, including the continued development of Vaxil’s existing assets.

To this end, the Company is pleased to advise that the work performed by the Company together with Prof. Ayelet David, from Ben-Gurion University of the Negev (“BGU”), which demonstrated therapeutic success by prolonging the survival of mice treated with P-Esbp-DOX in a mouse model of aggressive liver metastasis of colorectal cancer (CRC) has now been published and is available for review in the journal NanoToday at the following website link:

https://www.sciencedirect.com/science/article/abs/pii/S1748013224000379

The Company has an exclusive worldwide license agreement for the development and commercialization of this targeted cancer therapy with BGN Technologies, the technology transfer company of BGU. To the extent that a successful therapy is developed, the Company will pay BGU a royalty on sales.

ABOUT VAXIL

Vaxil is an Israeli immunotherapy biotech company focused on its novel approach to targeting prominent cancer markers and infectious diseases. Its lead product ImMucin™ successfully completed a Phase 1/2 clinical trial in multiple myeloma for which it received orphan drug status from the FDA and EMA. The company aims to continue to develop ImMucin™, a COVID-19 and a tuberculosis vaccine / treatment that has demonstrated promising preliminary results with further preclinical evaluation planned. Additional indications and mAb candidates are under evaluation as immuno-oncology and infectious disease treatments alone and in combination with other treatments.

Vaxil exploits the unique properties of signal peptide domains on crucial proteins to develop targeted therapies against cancer targets and infectious disease pathogens. These signal peptide domains are identified by VaxHit™, Vaxil’s proprietary bioinformatic approach. These signal pepdies induce a robust T- and B-cell response across wide and varied HLA subtypes, while acting as true, universal neoantigens. The peptide platform targets these cells by “educating” or specifically activating the immune system to recognize and attack the affected cells. In addition, Vaxil’s mAb platform directly recognizes the target protein expressed on malignant cells and recruits other elements of the immune system to lyse those cells.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer: The TSX Venture Exchange Inc. has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the results of exploration activities — that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States or elsewhere. These securities have not been, and will not be, registered in the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.

Contact Information

For further information please visit https://vaxil-bio.com/ or contact:

Gadi Levin, CFO
info@vaxil-bio.com
647-558-5564